The report titled “Cosmetic Skin Care Products Market- Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the overall cosmetic skin care products market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on type of products, age group, distribution channel, and different geographies. On the basis of age group currently baby boomers are considered as the key consumers of cosmetic skin care products but the trend has been observed to slightly shift towards millennials or generation Y due to increasing awareness associated with cosmetic wellbeing and easy access to modern technology based cosmetic skin products. Overall, there is a change observed in beauty standards over the past decade and also the shifting preferences of consumers. The key factors driving the overall cosmetic skin care products market are rising demand for safe and effective cosmetic products, plant-based products are generating huge demand, increasing awareness associated with beauty well-being and increasing geriatric population equipped high disposable capital.
For the purpose of this study, the global cosmetic skin care products market is segmented on the basis of age group type into baby boomers, generation X and generation Y. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year.
The global cosmetic skin care products market is also segmented on the basis of type of products into moisturizers, cleansing lotions, facial masks, shaving creams, serums, exfoliators, anti-ageing creams, toners, eye creams and sun care products. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year.
The distribution channel segment of global cosmetic skin care products market comprises online sales, standalone retail outlets, factory outlet, and supermarkets. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of USD Mn along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year.
The geographical segmentation of cosmetic skin care products market comprised regions such as North America, Europe, Asia-Pacific, Latin America & Middle East and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, Mexico, Saudi Arabia, South Africa, and other countries. Market size and forecast for these segments during 2019 to 2029 and their CAGRs for the period 2021 to 2029 are provided in this report.
The cosmetic skin care products market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are L'Oreal S.A., Unilever PLC, Procter & Gamble, Beiersdorf AG, Avon Products Inc., The Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, and The Body Shop International PLC among others.
Based on the type of age group, the global cosmetic skincare products market is segmented as follows:
In year 2020, baby boomers was observed as the largest segment in global cosmetic skincare products market due to key driving factors such as currently around 22.9% of US population is of baby boomers, and 54.7% of US’s disposable income is owned by baby boomers. Thus, baby boomers have been targeted for cosmetic skincare products as they are in age range of 50 to 70 years and are financially stable to invest in luxury beauty products and treatments. However, generation Y also known as millennials was observed as the fastest growing segment during the forecast period 2021 – 2029. Millennials have become more aware about their beauty and complexion rather earlier than generation X and are expected to assist the significant growth of cosmetic skin care products in the near future. Millennials also prefer buying cosmetic products in-store, and more likely than old generation carryout online research through social media and blogs before buying any cosmetic product.
Based on the type of products, the global cosmetic skincare products market is segmented as follows:
Anti-ageing creams segment accounted for the largest market share due to aging population, rising awareness associated with anti-ageing solutions in old as well as young generation, the premium prices of products are also responsible for their market domination. The other key drivers responsible for growth of this segment are increased demand in male anti-ageing products, well established retail sector, and customers looking for treatments and products to maintain and improve their appearance to look young. Toners and sun care products are observed as the two most growing segments during the forecast period 2021 – 2029. The rising problems associated with skin due to UV rays and air pollution are assisting the growth of these segments.
Based on the type of distribution channel, the global cosmetic skin products market is segmented as follows:
In year 2020, supermarket and factory outlets combine accounted for the largest market share in cosmetic skincare products due to key driving factors such as rising demand for highly accessible and authentic source of cosmetic products, high awareness associated with sales offers provided in such stores, and touch and feel of product also matters to most of the customers. However, online retail was observed as the fastest growing segment during the forecast period 2021 – 2029 due to key factors such as upcoming marketing strategies followed by online sellers such as subscription models, availability of luxury beauty products for people spread across the globe, and promotional and seasonal sale events on online platform.
In base year 2020, North America accounted for the largest share in global cosmetic skin care market due to key driving factors such as rising demand for anti-aging products from X generation as well as Y generation, increasing awareness associated with appearance and personality, high disposable income is boosting the buying behavior of customers, and incessant innovations carried out in skin cosmetics. According to experts a new trend observed in the skin care industry comprises the rise in demand of skin care products with growing interest in grooming among the young generation in different countries across the world specifically for skin brightening creams and lotions. Asia-Pacific skin care market is the fastest growing market during the forecast period 2021 – 2029. The key factors responsible for its significant growth are rising geriatric population, high awareness in young population related with beauty products, increasing disposable income coupled with economic growth, and several international brands entering Asia-Pacific market. According to market experts the major difference observed in North America and Asia-Pacific is the customer buying behavior especially related with high-end cosmetics as single customer prefers six to seven products of any trending skin care collection; while in North America and Europe consumers prefer to have a specific solution for each requirement for their beauty regimen. Thus, changing requirements and demands of customers are boosting R& D activities across the world.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cosmetic Skin Care Products market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Age Group
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Distribution Channel
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
