Global Skin Care Products market scope 2024, Forecast To 2033

The market size for skincare products has shown robust growth, expanding from $148.97 billion in 2023 to $160.94 billion in 2024, with a CAGR of 8.0% during the historical period. This growth is attributed to prevailing beauty and personal care trends, the impact of an aging population on the demand for anti-aging products, a surge in the demand for natural and organic products, celebrity endorsements and effective marketing, and an increasing awareness of skin health. Looking ahead to 2028, the market is poised for substantial growth, with a projected size of $220.3 billion and a CAGR of 8.2%. Key drivers of this growth include the adoption of clean and sustainable skincare products, personalized skincare solutions, the integration of skincare technology apps, a growing awareness of skin health and wellness trends, the expansion of the men's skincare market, and the influence of emerging markets and global beauty trends. Major trends in this forecasted period include the application of AI and machine learning for skincare analysis, DNA-based personalized skincare products, eco-friendly and refillable skincare packaging, beauty tech devices for at-home skincare, the development of biodegradable and zero-waste skincare products, and the formulation of skincare products friendly to the skin microbiome.