Skin Care Products Market | Acumen Research and Consulting

Skin Care Products Market (By Gender: Male, and Female; By Product: Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, and Others; By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & drugstore, Online, and Others and By Region: North America, Europe, Asia-Pacific, Latin America, and MEA)

Skin Care Products Market Highlights

• The global skin care products market is projected to reach USD 240.6 billion by 2032, with a CAGR of 4.8% from 2024 to 2032
• The Asia-Pacific skin care products market was valued at approximately USD 61.9 billion in 2023
• The Asia-Pacific market is expected to grow at a CAGR of over 5.5% from 2024 to 2032
• In 2023, the female demographic accounted for 61% of the market share by gender
• Face creams and moisturizers represented 42% of the market share based on product in 2023
• Supermarkets and hypermarkets held 44% of the market share by distribution channel in 2023
• AI and tech-driven solutions are promoting personalized skincare experiences is the skin care products market trend that fuels the industry demand

Skin care products serve to improve the appearance of the skin while also reducing skin disorders. Skin care items include both natural and synthetic goods, such as body lotions and face creams. Moisture, UV protection, pollution prevention, and nutrition are among the several skin care products available. Skin care products improve skin health by incorporating qualities such as exfoliation, laser resurfacing, fillers, microdermabrasion, peels, and retinol therapy.

Global Skin Care Products Market Dynamics

Market Drivers

• Growing consumer awareness of skincare and self-care routines
• Increasing demand for organic and natural skincare products
• Expansion of e-commerce platforms for easier product accessibility

Market Restraints

• High cost of premium skincare products
• Rising concerns over synthetic ingredients and potential side effects
• Intense competition from counterfeit products and local brands

Market Opportunities

• Innovation in anti-aging and personalized skincare solutions
• Expansion into emerging markets with rising lifestyle
• Growth in men's skincare and gender-neutral product lines

Skin Care Products Market Report Coverage

Skin Care Products Market Insights

Increasing awareness of skin care, rising demand for herbal, natural, and organic skin care products, changing lifestyles, rising demand for anti-aging products, and ease of access to various skin care products are some of the key factors driving global skin care product market growth. Skin care awareness is continuously expanding as people's lifestyles change. This reason is driving up the need for sun protection cream, anti-aging cream, and anti-wrinkle creams in skin care and beauty goods.

Rising concerns about various skin disorders, as well as the simplicity with which various skin care products are available in the market, are some of the primary reasons driving the global expansion of the skin care products market. Increasing awareness of natural components that give UV protection is also expected to support market growth throughout the forecast period. Growing awareness about the different benefits of utilizing personal care products has raised demand in recent years. This has also raised the use of organic and natural skin care products, accelerating the growth of the global skin care products market.

Changes in lifestyle patterns in established and developing economies as a result of rapid urbanization, increased knowledge of improved skin care products, and significant investments in emerging countries are among the factors affecting the global growth of the skin care products market. Furthermore, demand for facial wipes, moisturizing lotions, and creams is increasing, which is expected to drive global market growth.

The increasing demand for men's skincare and gender-neutral products is opening up new prospects in the skincare business. As more men and women seek for skin care treatments, companies are broadening their products to satisfy a variety of needs. This trend promotes innovation in product development and marketing techniques. It also enables brands to reach a larger consumer base and accelerate market growth.

Skin Care Products Market Segmentation

The worldwide market for skin care products is split based on gender, product, distribution channel, and geography.

Skin Care Product Market By Gender

• Male
• Female

According to the skin care products industry analysis, the female gender dominates the global market, owing to increased demand for cosmetics, anti-aging, and personal care products among women. Their increased emphasis on beauty, wellness, and skincare routines has led to significant market growth. Furthermore, the availability of a vast range of products expressly aimed at women strengthens their dominant consumer base. This tendency is followed by significant marketing efforts and social media impact in the beauty and skincare sectors.

Skin Care Product Market By Product

• Face Creams and Moisturizers
• Cleansers & Face Wash
• Sunscreen
• Body Creams & Moisturizers
• Shaving Lotions & Creams
• Others

Face creams and moisturizers dominates in skin care products market. Face creams and moisturizers serve to minimize acne scars, age spots, freckles, and discolouration, which contributes to the segment's growth. The introduction of new products, the development of numerous novel creams and solutions, and the formation of strategic partnerships are all projected to drive market expansion throughout the projection period. Shaving lotions & creams are expected to increase their demand in approaching years.

Skin Care Product Market By Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Pharmacy & drugstore
• Online
• Others

According to the skin care products industry forecast, supermarkets and hypermarkets dominate the industry due to their enormous distribution networks and ability to offer a diverse range of items. These major retail chains attract a diverse customer base by offering easy access to both mass-market and premium brands. Their reasonable price, regular promotions, and high in-store exposure contribute to their market supremacy. This channel's accessibility and diverse product offers make it a crucial driver of sales development in the skin care market.

Skin Care Products Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Skin Care Products Market Regional Analysis

For several reasons, the Asia-pacific region dominates and fastest-growing region in the worldwide skin care products market, driven by increased consumer awareness and desire for premium, natural, and organic skin care solutions. Countries such as China, Japan, and South Korea have seen increased urbanization and continuous product launches by key manufacturers, which have fueled industry expansion. For instance, Shiseido Co. Ltd. announced the Japanese launch of ULTIMUNE Power Infusing Concentrate III, a new version of the famous serum ULTIMUNE Power Infusing Concentrate N, in July 2021. Furthermore, the influence of beauty trends from these regions, particularly the popularity of K-beauty, reinforces their market dominance.

North America expected to see notable growth in forecast year due to expanding e-commerce platforms, as well as developments in product innovation, contribute to long-term industry growth. For instance, in March 2023, M·A·C Cosmetics, a subsidiary of Estée Lauder, debuted Locked Kiss Ink, a collection of lip inks. The business claims that the product is extremely durable and comfy. In January 2023, M·A·C Cosmetics launched Hyper Real Skincare, a range of skincare products including serums, washing creams, and cleansers. The range promises excellent makeup stay and skin barrier strengthening and hydration. All of the products in this range include extracts from Japanese peony.

Skin Care Products Market Players

Some of the top skin care products companies offered in our report includes The Estée Lauder Companies, Inc., Avon Products, Inc., Beiersdorf AG, Shiseido Co. Ltd., Procter & Gamble (P&G), Johnson & Johnson Services, Inc., L’Oréal S.A., Coty Inc., Unilever, and Revlon Consumer Products Corporation.