According to the findings of a recent report by Transparency Market
Research (TMR), the global
skin care products market is highly competitive in nature, with
the leading companies maintaining their stronghold via diverse
product portfolio that cater to specific demands and are offered in
both premium as well as budget pricing. New product introduction and
aggressive marketing are two key strategies of the key players to
gain market shares. Some of the key companies identified by the
report in the global skin care products market are L'Oréal S.A.,
Johnson & Johnson Services, Inc., The Estee Lauder Companies
Inc., Beiersdorf, Procter & Gamble, Avon Products Inc., Kao
Corporation, and Unilever PLC.
As per the estimations provided by the TMR report, the demand in the
global skin care products market will expand at a healthy CAGR of
4.90% during the forecast period of 2015 to 2021, reaching a
valuation of US$155.4 bn by the end of 2021, significantly up from
its evaluated worth of US$110.7 bn in 2014. Most of the key vendors
are increasing their focus on the emerging economies in the region of
Asia Pacific, primarily India, wherein vast population base is driven
by color complexion and softness of the skin. The entry of new
vendors is moderate to low in this market, which is driven by brand
name. Strategic partnerships and mergers and acquisitions is expected
to restructure the competitive landscape of the global skin care
products market in the near future.
Anti-Aging and Skin Brighteners Leading Segments
Product-wise, the TMR report segments the global skin care products
market into face cream and body lotion. While face cream is further
sub-segmented into anti-aging, skin brighten, and sun protection, the
body lotion segment is further categorized into premium body care
lotion and mass market body care lotion. The report projects the face
cream segment to increment the demand at the most prominent CAGR of
4.8% during the forecast period of 2015 to 2021, gaining traction
from the growing awareness and willingness of the consumers to
enhance skin quality, prevent wrinkles, rejuvenate the cells, and
brighten the skin. As the number of working women, especially in Asia
Pacific region, and the online availability of beauty care products
is augmenting the demand for face cream segment in the global skin
care products market.
View and Download TOC of Global Skin Care Products Market Research
Report @
Vastly Populated Asia Pacific Escalating Demand
The TMR report detects Asia Pacific as a highly profitable regional
market, projecting the China skin care products market to swell up to
a valuation of US$6.3 bn by 2021, whereas India is expected to
increment the demand at the most prominent CAGR of 5.10% during the
forecast period of 2015 to 2021. This escalating demand from APAC is
a reflection of high demand for skin whitening creams, particularly
from India, a country which is heavily populated and the disposable
income is increasing. The demand for personal grooming products is
also on the rise in this region. The skin care products market in the
Middle East and Africa region is anticipated to grow at a CAGR of
8.60%.
Organic Products Gaining Preference
Growing demand for skin lightening products, preference of anti-aging
products for the geriatrics, increasing disposable income, aggressive
marketing, increasing demand for natural and organic products, and
escalating segment of men’s skin care products are some of the key
factors driving the global skin care products market. On the other
hand, product packaging and labeling regulations, threat from
counterfeit products, and the side effects are some a few restraints
hindering the market from attaining its true potential. Nevertheless,
the vendors operating in this market are expected to gain new
opportunities from use of unique ingredients and high demand for UV
absorbers and multifunctional skin care products.
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The information presented in this review is based on a Transparency
Market Research report, titled, “Skin Care Products Market (Face
Cream and Body Lotion) - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2015 - 2021”
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