Skincare Market to Surpass 204.61 Billion by 2030 Drives Due to Rising Beauty Awareness
SkyQuest projects that the skincare market will attain a USD 204.61 billion value by 2030, with a CAGR of 4.6% over the forecast period (2023-2030). Increasing consciousness about skin health and appearance drives the global skincare market. Consumers prioritize effective products for various skin types, fueling demand for specialized solutions and natural ingredients.
Westford, USA, Oct. 18, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, easy accessibility through e-commerce platforms and digital marketing strategies significantly boosts the skincare market growth. Online reviews, tutorials, and personalized recommendations influence consumer choices, fostering a global market driven by convenience and virtual engagement.
Browse In-Depth TOC on the “Skincare Market”
- Pages – 157
- Tables – 117
- Figures – 77
The skincare market benefits from escalating urbanization, which exposes populations to higher pollution levels, driving the demand for protective and rejuvenating products. Increasing environmental stressors make skincare regimes essential worldwide, fostering a growing market for products that cater to these concerns.
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Prominent Players in the Skincare Market
- L’Oréal Professional
- Shiseido Co., Ltd.
- Kao Corporation
- Unilever N.V.
- The Estée Lauder Companies Inc.
- Colgate-Palmolive Company
- Johnson & Johnson Services, Inc.
- Procter & Gamble Co.
- Avon Products, Inc.
- Beiersdorf AG
- Revlon, Inc.
- Amorepacific Corporation
- Natura & Co.
- Mary Kay Inc.
- Clarins Group
- Coty Inc.
- LVMH Moët Hennessy Louis Vuitton SE
- The Clorox Company
- Henkel AG & Co. KGaA
- The Body Shop International Limited
Sunscreen Segment is Expected to Grow the Market Due to Awareness About Sun-Induced Skin Damage
Sunscreen segment is experiencing rapid growth in the skincare market due to awareness about sun-induced skin damage. Rising concerns about skin cancer and premature aging and increased outdoor activities are propelling the demand for effective sun protection products. Consumers prioritize UV defense, making sunscreen a key driver of market expansion.
North America is the fastest-growing region in the skincare market due to its heightened beauty consciousness and advanced skincare trends. Increasing consumer education about skincare benefits and a strong emphasis on innovative and premium products propels market expansion. Robust e-commerce infrastructure and changing beauty standards contribute to the remarkable growth of North America in the skincare market.
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Face Cream Segment is Expected to Dominate the Market Due to its Essential Role in Daily Skincare
Face cream is a dominant segment in the skincare market due to its essential role in daily skincare. These products cater to diverse skin types and concerns, offering hydration, anti-aging benefits, and protection. It has widespread use by both men and women and continuous product innovation, solidifying their position as a market leader.
Asia Pacific established dominance in the skincare market due to its vast population, cultural emphasis on skincare, and expanding middle-class segment. Rising disposable incomes enable increased spending on skincare products, while artistic beauty practices fuel demand.
A comprehensive analysis of the major players in the skincare market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in the Skincare Market
- In 2022, Belviso introduced its line of high-end skincare products in the Indian market under the brand name Belviso. The initial product lineup will comprise the Belviso Vitamin C Serum, Belviso Multi-Acid Serum, Belviso Niacinamide Serum, Belviso Total Nano Gel, and the Belviso Transformation Cream.
- Recently, Shiseido Co. Ltd. unveiled the latest iteration of its renowned serum ULTIMUNE Power Infusing Concentrate III in Japan. This launch involves a revitalized version of the well-known ULTIMUNE Power Infusing Concentrate N. The product will soon be accessible in around 380 retail outlets nationwide and also on the beauty website Watashi+.
Key Questions Answered in Skincare Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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