Skincare Market Revenue to Cross USD 405 billion by 2035 | Roots Analysis

Recent trends in the global skincare industry showcase a growing emphasis on personalization, multifunctionality and natural beauty products. Consumers are increasingly seeking tailored solutions for personal care, with a focus on product content and transparency to promote clean beauty. 

Multifunctional products are gaining popularity by offering long-lasting results and addressing multiple skin conditions / requirements with a single product. Moreover, the men's skin care market size is expanding significantly, with more men adopting daily skincare routines and showing interest in personal care products that improve their appearance and skin health.

Key Report Takeaways

§  Presently, over 25,000 skincare products are available in the market, addressing the needs of various skin types

§  Presently, more than 20 leading companies are currently engaged in developing novel personal care solutions to manage different skin conditions, ~45% of these players are established in Europe

§  Close to 70% of the leading skincare product manufacturers provide solutions for both men and women; additionally, close to 20 of these companies claim to provide anti-aging products

§  In the short to mid-term, skin cleansers are anticipated to capture the major share of the however, the market for products used in anti-aging applications are expected grow at a higher CAGR (8.4%) during the forecast period

Competitive Landscape:

The current market landscape features the presence of over 25,000 skincare solutions, to manage a variety of skin types / conditions; these solutions include a plethora of novel skin cleansers, moisturizers, facial care and body care products. In order to meet the increasing demand for such novel solutions, various leading companies engaged in this domain have undertaken several initiatives, such as entering into strategic collaborations, and expanding their existing capabilities / product portfolios.

Skincare Market Regional Outlook

Based on the geographies, the market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Led by China, Asia-Pacific is anticipated to capture the majority share of the skincare market in 2024 and this trend is likely to remain unchanged during the forecast period.

North America is accounted to be the fastest-growing segment of the market. The growth of the skincare market in the region is driven by the growing demand for various novel personalized skincare products and the awareness regarding clean beauty.

Key Players

Examples of key companies engaged in skincare market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Amorepacific, Coty, Estée Lauder, Galderma, Kao, L'Oreal, LVMH, Procter & Gamble, Shiseido, Unilever, Beiersdorf, Chanel, Clarins, Colgate-Palmolive, Cult Beauty, Deciem, Johnson & Johnson, Natura &Co, Revlon, Shanghai Jahwa.

It is interesting to note that in March 2024, L’Oreal launched a breakthrough molecule, Melasyl to address issues related to localized pigmentation of the skin and post-acne marks.

Skincare Market Segments

Based on research, Roots Analysis has segmented the Market into Type of Product by Application, Type of Product by Body Part, Distribution Channel, Type of Offline Distribution Channel, Type of Packaging, Product Category, Gender, Type of Ingredient, and Geography.

by Type of Product by Application

§  Skin Cleansers

§  Skin Moisturizers

§  Anti-aging Products

§  Sun Protectors and others

by Type of Product by Body Part

§  Facial Care Products

§  Body Care Products

§  Lip and Eye Care Products

by Distribution Channel

§  Online Distribution Channels

§  Offline Distribution Channels

by Type of Offline Distribution Channel

§  Convenience Stores

§  Super Markets

§  Pharmacies

by Type of Packaging

§  Tubes

§  Bottles

§  Jars

§  Others

by Product Category

§  Luxury Skincare Products

§  Mass Skincare Products

by Gender

§  Men

§  Women

§  Other Genders

by Type of Ingredient

§  Natural Ingredients

§  Chemical Ingredients

by Geography

§  North America

§  Europe

§  Asia-Pacific

§  Latin America

§  Middle East and Africa

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