The global skin
care products market is projected to reach USD 177.15 billion by
2024, according to a new report by Grand View Research, Inc. Stringent
regulations promoting the use of organic materials in the skin care industry is
likely to propel market growth.
Rising awareness about different advantages of
personal care products has resulted in increased demand over the past few
years. Organic and natural personal care products have become a major segment
in the cosmetics and wellness market. Rising awareness about the harmful
effects of synthetic products has led to the increasing demand of organic care
products. This rising demand has led manufacturers to focus more on R&D and
product innovation.
The levels of accessibility of both synthetic and
organic products have also increased over the past few years owing to the
widening of distribution networks of manufacturers and suppliers. In addition,
the rise of online market platforms, where consumers can purchase a wide range
of products from any part of the world, has been one of the primary reasons for
the increase in accessibility.
The skin care products value chain consists of raw
material suppliers, skin care product manufacturers, distribution channels, and
end-use industries. Raw materials for synthetic skin care products include
various colorants, skin conditioning agents and surfactants. BASF, Antaria and
Canton Chem, Inc. are few leading manufacturers of raw materials used in the
production of skin care products.
Asia Pacific was the largest market for these products
in 2015. The increase in the disposable incomes of consumers, coupled with the
increasing demand for organic products, is expected to drive industry growth in
the region. In countries such as India and China, the growing demand for skin
care products can be attributed to the rapidly-growing population.
Browse full research report on Skin Care Products Market: https://www.grandviewresearch.com/industry-analysis/skin-care-products-market
Further
key findings from the report suggest:
- The global skin care products market is anticipated to reach 177.15
billion by 2024, growing at a CAGR of 4.7% from 2016 to 2024
- In terms of revenue, the face cream segment is projected to ascend
at a CAGR of 5.0% over the forecast period
- The anti-ageing cream product type segment dominated the global
market with a share of over 39.6% in 2015
- The U.S. market is anticipated to exceed 19.7 billion by 2024
- Europe is projected to witness a steady growth rate of 4.1% over
the next seven years, owing to the presence of a number of regulations
that are propelling the demand for natural skin care products
- Asian countries such as India and China are expected to observe a
remarkable growth over the forecast years
- The market for skin care product is highly competitive with the
presence of a number of multinational companies with vast product
portfolios
- Some of the key companies present in the market are L'Oréal S.A.,
Unilever PLC, Beiseidorf AG, Colgate Palmolive, Estee Lauder, Johnson
& Johnson, and Avon Product Inc.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/personal-care-and-cosmetics
Grand
View Research has segmented the global skin care products market on the basis
of product and region.
Product
Outlook (Revenue, USD Million; 2015 - 2024)
- Face cream
- Skin
brightening cream
- Anti-Ageing
cream
- Sun
protection cream
- Body lotion
- Mass body
care lotion
- Premium body
care lotion
Regional
Outlook (Revenue, USD Million; 2015 - 2024)
- North America
- U.S
- Europe
- UK
- France
- Germany
- Italy
- Asia Pacific
- China
- India
- Japan
- Rest of the
World
- Saudi Arabia
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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