The global skin care products market size is expected to reach USD 196.67
billion by 2024, according to a new report by Grand View Research, Inc. The
emergence and growth of e-commerce trading platforms and development of novel
organic skin care solutions are expected to boost the market growth.
The market offerings can be categorized on the basis of products into
face cream and body lotion. Face creams are divided into anti-aging, sun
protection, and skin brightening while body lotions are classified as mass
market and premium segment products. The face cream segment is expected to grow
at a significant pace, owing to the demand for enhanced anti-aging creams.
Recent administrative regulations pertaining to the use of organic
products in countries such as the U.S. and Europe are further expected to
bolster the industry growth. Few regulations pertaining to synthetic products
restrict the use of numerous chemicals to a certain degree to ensure consumer
safety by minimizing the possibility of side-effects associated with the
conspicuous products.
However, the availability of pseudo products is expected to pose a
challenge to industry growth. The recent trend of green initiatives across
industries is expected to impel the global skin care products industry growth.
In depth research report
on Skin Care Products Market
Further key findings from
the report suggest:
•
The growing demand for organic face creams, sunscreens, and body lotions among
consumers is expected to have a positive impact on the skin care industry over
the forecast period. Increased prominence of e-commerce websites is further
anticipated to drive the market as niche product vendors would be able to cater
to a wide base of consumers.
•
The prevalence of stringent regulations by various agencies including the
U.S. Environmental Protection Agency (EPA), the U.S. Food and Drug
Administration(FDA), and other associations to increase the shelf life of
products is expected to have a positive impact on the market over the next
seven years. Products also have to adhere to the Soil Association standard for
securing 'organic' and 'made with organic' ingredients clearance.
•
Asia Pacific is expected to witness a significant growth in the skin care
product segment, owing to the increasing demand from developing economies of
China and India. The growing awareness of organic products, changing lifestyle
of consumers, and rising disposable income of the middle-class populace are
expected to fuel the skin care product demand in these countries over the
forecast period.
•
The key industry participants include Kao Corporation, Beiersdorf AG,
L’OrĂ©al S.A., Avon Products Inc., Johnson & Johnson, Estee Lauder Companies
Inc., Unilever PLC, Procter & Gamble Co., Colgate-Palmolive Company, and
Shiseido Company. The natural raw material suppliers for organic substances are
anticipated to dominate the value chain to offer exclusive ingredients, along
with creating new varieties for consumers.
Grand View Research has segmented the global skin care products market on
the basis of product and region:
Skin Care Product Outlook
(Revenue, USD Billion, 2015 - 2024)
•
Face cream
•
Skin brightening
•
Anti-aging
•
Sun protection
•
Body lotion
•
Mass market
•
Premium segment
Skin Care Products
Regional Outlook (Revenue, USD Billion, 2015 - 2024)
•
North America
•
Europe
•
Asia Pacific
•
Rest of the World (RoW)
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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