What Does the Historical and Current Skincare Market Size Trend Indicate?
The skincare market has seen considerable growth due to a variety of factors.
•In recent times, the skincare market has seen robust growth. The market size is projected to swell from $142.17 billion in 2024 to $151.3 billion in 2025, marking a compound annual growth rate (CAGR) of 6.4%.
The growth in the past was spurred by several factors. These include an increase in consumer consciousness and learning, promotion by celebrities and influencers, influences from culture and society, economic variables, and trends in health and wellness.
How Will the Skincare Market Size Evolve over the Forecast Period?
The skincare market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the skincare market is projected to experience robust growth. The market is forecasted to expand to $194.83 billion by 2029, with a compound annual growth rate (CAGR) of 6.5%.
The projected growth in this period can be credited to factors like customized skincare solutions, sustainable and eco-friendly methods, the emergence of male grooming products, advanced skincare devices, and the integration of wellness. Key trends for this forecast period include the digitalization of beauty retail, technological innovations, inclusive beauty, comprehensive beauty, and subscription-based models.
Which Factors Are Boosting Growth In The Skincare Market?
The rising consciousness towards individual grooming is predicted to fuel the growth of the skincare market in the future. Individual grooming entails maintaining personal cleanliness, hygiene, well-kept nails and hair, avoiding body smell, and dressing suitably. Skin care contributes significantly to personal grooming as it aids in preserving healthy and attractive skin through various skincare products like serums, moisturizers, exfoliators, body lotions, and eye creams. A case in point is a survey carried out by the New York Post in October 2022 involving a thousand men and women in the US focusing on their hygiene habits. The findings revealed that 73% of both genders believe hygiene maintenance is straightforward, however, only one in ten women concurred. Most individuals (90%) prioritized washing hands and body over brushing teeth (87%) or applying deodorant (84%). Men were more prone to scheduling nail trims (69%) and face shaves (74%) compared to women who prioritize cleaning their intimate areas (85%) and maintaining their skincare routines (84%). Additionally, the International Trade Administration, an intergovernmental organization based in the US, projected in May 2022 that the Canadian cosmetics industry is anticipated to rise by 1.45% yearly to USD 1.8 billion come 2024. Consequently, the escalating consciousness about personal grooming is spearheading the skincare market's growth.
What Key Areas Define The Segmentation Of The Global Skincare Market?
The skincare market covered in this report is segmented –
1) By Product Type: Creams, Lotions, Powders, Sprays, Other Products
2) By Packaging Type: Tube, Bottle, Jar, Other Packaging
3) By Gender: Men, Women
4) By Distribution channel: Stores, Super markets, Online, Other End-Users
Subsegments:
1) By Creams: Moisturizing Creams, Anti-Aging Creams, Sunscreen Creams, Night Creams
2) By Lotions: Hydrating Lotions, Sunscreen Lotions, After-Sun Lotions, Body Lotions
3) By Powders: Setting Powders, Finishing Powders, Exfoliating Powders
4) By Sprays: Face Mists, Setting Sprays, Sunscreen Sprays
5) By Other Products: Gels, Serums, Masks, Exfoliators, Cleansers
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How Are Emerging Trends Reshaping The Dynamics Of The Skincare Market?
Product innovation is rising as a central trend within the skincare market. Entities present in this market are leveraging innovative goods to maintain their market presence. For instance, in April 2023, AW Faber-Castell Cosmetics GmbH, a cosmetics manufacturing company based in Germany, introduced a refillable mechanical makeup pencil. This creative design forms part of their new Protopia series of cosmetic and skincare pencils. This rechargeable pencil offers two unique vegan and clean textures for lips, eyes, and eyebrows. The cosmetics company outlines this as a significant achievement in environmental sustainability.
Who Are the Key Players in the Skincare Market?
Major companies operating in the skincare market include:
• Cardinal Health Inc.
• Johnson & Johnson
• LVMH Moët Hennessy Louis Vuitton S.E.
• Procter & Gamble Company
• Unilever PLC
• L'Oréal S.A
• Amorepacific Group
• Henkel AG And Co. KGaA
• Colgate-Palmolive Company
• Estée Lauder Companies Inc.
• Chanel Inc
• Kao Corporation
• Natura & Co.
• Beiersdorf AG
• Shiseido Company Limited
• Coty Inc.
• Neutrogena Corporation
• Galderma S.A
• Avon Products Inc.
• Nu Skin Enterprises Inc
• Kose Corporation
• Revlon Consumer Products Corporation
• Sisley Paris
• Caudalie
• Lancôme
• European Wax Center Inc
• Mario Badescu Skin Care Inc
• Tata Harper Skincare
What Is The Most Dominant Region In The Skincare Market?
Asia-Pacific was the largest region in the skincare market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the skincare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
