Summary - A new market study, titled “Global Skin Care Products Market -Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2018-2026” has been featured on WiseGuyReports.
Global Skin Care Products Market was valued at USD 137.5 Billion in the year 2017. Global Skin Care Products Market is further estimated to grow at a CAGR of 4.72% from 2018 to reach USD 183.2 Billion by the year 2026.
The North America region holds the highest market share in 2017 and the Asia Pacific is considered as the fastest growing market in the forecasted period. At the country level, India and China are projected to grow strongly in the coming years due to increasing rate of population.
Rising awareness about natural ingredients providing UV protection is also expected to fuel the market growth. With the rising geriatric population, demand for products with anti-aging properties is expected grow, thereby driving the overall market. Organic skin care product manufacturers focus more on the development of newer formulations targeted at fighting the effects of skin aging. Rising awareness about skin care has led to the inclusion of sun protection, anti-aging, and anti-wrinkle properties in skin care and makeup products.
Also Read: https://www.newsmaker.com.au/news/380514/skin-care-products-global-...
The Global Skin Care Products Market report is segmented as By Product, Distribution Channel, End Use and Region. The Product segment, is divided into two segments, face cream and body lotion. Face cream contributes to the highest market share. The Distribution Channel is divided into, supermarkets, departmental stores, pharmacy and drug stores, specialty stores, beauty salons, internet retailing and shopping complexes. Departmental stores segment have the highest share in the market as a result of changing lifestyle and growing focus on skin care especially among the younger generation.
Among all, it is expected that the department stores segment will be growing at a moderate CAGR of XX % in the assessment period. The end use segment is segmented as youngsters, adults and older people in which adults have the highest market share.
Johnson & Johnson (US), The Estee Lauder Companies Inc. (US), Unilever (Netherlands) are some of the key players in the Global Skin Care Market. Rising research and development expenses cater to changing demand of end users. Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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