Skincare Market

Skincare Market: Industry Trends and Global Forecasts, till 2035: Distribution by Type of Product by Application (Skin Cleansers, Skin Moisturizers, Anti-aging Products, and Sun Protectors and Others), Type of Product by Body Part (Facial Care Products, Body Care Products, and Lip and Eye Care Products), Distribution Channel (Online Distribution Channels and Offline Distribution Channels), Type of Offline Distribution Channel (Convenience Stores, Super Markets and Pharmacies), Type of Packaging (Tubes, Bottles, Jars and Others), Product Category (Luxury Skincare Products and Mass Skincare Products), Gender (Men, Women and Other Genders), Type of Ingredient (Natural and Chemical), and Geography (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa)

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Skincare Market Size & Share

The global skincare market size is projected to grow from US$184 billion in 2024 to US$407 billion by 2035, representing a CAGR of 7.5%, during the forecast period, 2024-2035. 

Skincare Market Type of Product By Application, 2024-2035 (USD Billion)

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The new research study consists of global skincare industry trends, detailed market analysis for skincare products, Porter’s five forces analysis, megatrends analysis and market impact analysis. The report includes skin care market forecast and opportunity analysis.

The skincare industry is a dynamic and rapidly evolving sector that plays a crucial role in enhancing the health and appearance of skin for consumers worldwide. In 1967, renowned zoologist Desmond Morris quoted, “Flawless skin is the most universally desired human feature”. According to him, an even-toned, clear skin is indicative of the well-being of human health and fertility. Presently, with a wide range of products, including cleansers, moisturizers, serums, and masks, the industry is continuously innovating in order to meet customer demands.

While cosmetic procedures can effectively target specific aging concerns like deep wrinkles, sagging skin, and loss of skin volume, they may not comprehensively improve the overall skin quality. However, a daily skincare regimen, if followed stringently, can have a significant impact on the individual’s overall skin type and quality. Since 1970s, technological advancements in terms of manufacturing capabilities, advanced product formulators and customer relationship management tools have propelled the creation of personalized active ingredients that improve skin appearance. These ingredients encompass alpha and beta hydroxy acids, retinol derivatives, vitamin derivatives, and advanced bioengineered ingredients that boost collagen production.

Recent trends in the global skincare industry showcase a growing emphasis on personalization, multifunctionality of the products, and the rise of the men’s skin care market. Consumers are increasingly seeking personalized solutions in skincare, with a focus on ingredient potency and application techniques to enhance efficacy and performance. Skin care products having multiple applications are gaining popularity, offering long-lasting results and addressing more than one skin concerns in a single product. The men's skin care market size is also expanding significantly, with more individuals adopting daily skincare routines and showing interest in personal care products that improve skin health. These trends reflect a shift towards tailored, efficient, and inclusive skincare solutions that cater to diverse consumer needs and preferences.

Skincare Market Share Insights

The skincare market research report presents an in-depth analysis of various leading players involved in manufacturing innovative beauty and cosmetic products, across different segments, as defined in the table below:

Skincare Market: Report Attributes / Market Segmentations

Key Report Attributes Details
Historical Trend 2018-2023
Base Year 2023
Forecast Period 2024-2035
Market Size 2024 $ 184 Billion
Market Size 2035 $ 407 Billion
Growth Rate CAGR of 7.5% from 2024 to 2035
Type of Product by Application
  • Skin Cleansers
  • Skin Moisturizers
  • Anti-aging Products
  • Sun Protectors and Others
Type of Product by Body Part
  • Facial Care Products
  • Body Care Products
  • Lip and Eye Care Products
Distribution Channel
  • Online Distribution Channels
  • Offline Distribution Channels
Type of Offline Distribution Channels
  • Convenience Stores
  • Supermarkets
  • Pharmacies
Type of Packaging
  • Tubes
  • Bottles
  • Jars
  • Others 
Product Category
  • Luxury Skincare Products
  • Mass Skincare Products
Gender
  • Men
  • Women
  • Other Genders
Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
Market in North America
  • US
  • Canada
  • Mexico
Market in Europe
  • Germany
  • France
  • Italy
  • UK
  • Spain
  • Rest of Europe
Market in Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of Asia-Pacific
Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
Middle East and Africa
  • Africa
  • UAE
  • Rest of Middle East and Africa
Key Companies Profiled in the
Skincare Market
  • Amorepacific 
  • Coty
  • Estée Lauder
  • Galderma
  • Kao Corporation
  • L'Oreal
  • LVMH
  • Procter & Gamble
  • Shiseido
  • Unilever
  • Beiersdorf
  • Chanel
  • Clarins
  • Colgate-Palmolive
  • Cult Beauty
  • Deciem
  • Johnson & Johnson
  • Natura & Co
  • Revlon
  • Shanghai Jahwa
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  • Market Landscape of Leading Players
  • Market Sizing an Opportunity Analysis

One of the key objectives of this market report was to estimate the current market value, opportunity and the future growth potential of the product manufacturers in the global skincare market, over the forecast period. Based on multiple parameters, likely adoption trends and through primary / secondary validations, we have provided an informed estimate on the market evolution during the forecast period 2024-2035.

The market report also features the likely distribution of the current and forecasted opportunity for product providers in the global skin care market across various segments, such as type of product by application (skin cleansers, skin moisturizers, anti-aging products, and sun protectors and others), type of product by body part (facial care products, body care products, and lip and eye care products), distribution channel (online distribution channels and offline distribution channels), type of offline distribution channel (convenience stores, super markets and pharmacies), type of packaging (tubes, bottles, jars and others), product category (luxury skincare products and mass skincare products), gender (men, women and other genders), type of ingredient (natural and chemical), and geography (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa). In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three skincare market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.

Skincare Market Key Segments

Market Share by Type of Product by Application

The global skin care market is segmented into different types of products by application, such as skin cleansers, skin moisturizers, anti-aging products and other types of products. In 2024, skin cleansers are expected to capture the highest share in the skincare market and this trend is anticipated to remain same during the forecast period. This can be attributed to the reported increase in purchase of skin cleansers by the youth. 

Market Share by Type of Product by Body Part

The global skin care market is segmented into different types of products by body part, such as facial care products, body care products and other products. Facial care products are expected to capture the highest share in the skincare market in 2024 and this trend is anticipated to remain same during the forecast period. This can be attributed to the high adoption of facial skincare products, such as face wash and serums to improve skin quality. 

Market Share by Distribution Channel

The global skincare industry is segmented into different distribution channels, such as online distribution channels and offline distribution channels. Offline distribution channels capture the largest market share in 2024. However, since online platforms are easier to access from anywhere in the world and feature a broader range of products, the market share for online distribution channels is expected to grow at a relatively higher rate.

Market Share by Type of Offline Distribution Channels

The skincare market analysis highlights that market for offline distribution channels is further divided into various sub-segments, including convenience stores, supermarkets and pharmacies. Presently, convenience stores capture the majority of the offline distribution channels market for skincare products, however, owing to the heightened popularity of pharmacy skincare products, the market share for pharmacies is expected to grow at a relatively higher CAGR.

Market Share by Type of Packaging

The global skincare industry is segmented into different types of packaging, such as tubes, bottles, jars and others. Tubes are expected to capture the highest share in the skincare market in 2024 and this trend is anticipated to remain same during the forecast period. Consumers prefer a packaging which is convenient to handle, avoids direct contact with the product and easier to carry, owing to this, tubes are preferred for skincare and cosmetic products.

Market Share by Product Category

The global skincare industry is segmented into different product categories, such as luxury skincare products and mass skincare products. Mass skincare products are expected to capture the highest share in the skincare market in 2024. However, luxury skincare products have witnessed a surge in demand across different regions, including Southeast Asia and India. Owing to this, the market share for luxury skincare products is expected to grow at a relatively higher CAGR.

Market Share by Gender

The global skincare market caters to men, women and other genders as well. Skincare products for women capture the highest share in 2024 and are expected to dominate the market during the forecast period. However, owing to the increasing awareness of benefits associated with skin care routine, men are expected to adopt these products at a relatively faster rate over the time.

Market Share by Type of Ingredient

The skincare market study highlights that chemical-based products currently capture the majority share of the overall market. However, driven by the Clean Beauty Movement and the growing demand for sustainability in the industry, the market share for natural skincare products is expected to grow at a relatively higher CAGR over the next decade.

Market Share by Geography

This segment highlights the distribution of the global skincare industry across various geographies, such as North America, Europe, and Asia-Pacific, Latin America and the Middle East and Africa. According to our projections, Asia-Pacific captures the majority share (31%) of the market opportunity in 2024. It is worth highlighting that the skincare market in North America is expected to grow at a relatively higher CAGR (7%), during the forecast period, 2024-2035.

Skincare Market Key Insights

The “Skincare Market: Industry Trends and Global Forecasts, till 2035” market report features an extensive study of the current market size and future opportunities associated with product manufacturers within the skincare industry, during the given forecast period. The market report highlights the skin care competitor analysis. Key takeaways of the skin care market report are briefly discussed below.

The Growing Interest in Anti Aging Skincare

The inclination towards having a youthful appearance has led to a surge in the demand for anti aging skincare products. Consumers are increasingly seeking out the best skincare on the market that promises to turn back the clock. This trend is driven in part by the desire to combat the visible signs of aging, such as wrinkles, fine lines, and age spots, as well as the loss of skin elasticity and firmness. As a result, the market is flooded with products making bold claims about their ability to rejuvenate and revitalize the skin. Further, as the young population (Gen Z and millennials) gets older, the demand for anti-aging products is also expected to increase over the forecast period. 

Key Drivers of the Skincare Market

The global skincare market size growth is primarily attributed to the change in self care rituals and practices over the last few years. It is interesting to note that technological advancements in terms of product manufacturing, and customer engagement using AI and personalized skincare solutions have also gained prominence in the market. Personalized skincare products effectively target specific skin concerns and help to achieve desired outcomes. As a result, the demand for personalized skincare options is expected to fuel market growth. Moreover, the growing consumer awareness of the potential health and environmental effects associated with conventional skincare formulations has led to an increased focus on clean and organic skincare / natural skin care products. Further, owing to the rising demand for products that provide safer and environmentally sustainable alternatives, natural beauty products are being more adopted across the globe.

Skincare Market Size: Anti-aging Products to Drive Market Growth

The global market opportunity associated with the skincare industry is estimated to be USD 184 billion in 2024, driven by the rapidly increasing demand for personalized and natural skincare products. In terms of type of product by application, the market for anti aging products is anticipated to grow at a relatively higher CAGR of 7.2%, during the forecast period, 2024-2035. The market growth is primarily fueled by increasing adoption of anti-aging products, owing to the fact that these products \reduce the signs of early aging of the skin.

Regional Skincare Market Trends: Asia-Pacific Holds the Largest Share

Presently, over 30% of the market share is captured by Asia-Pacific. The higher demand for skincare products in Asia-Pacific is driven by the increasing use of social media as well as a rise in disposable income. However, the market for these products in North America is expected to grow at a relatively higher CAGR of 7%, during the forecast period. Within North America, the US skincare market size is expected to dominate the industry and this trend is likely to remain the same during the forecast period.

Leading Players in the Skincare Market

Examples of key skin care companies involved in the global skincare industry (which have also been captured in this market report, arranged in alphabetical order) include Amorepacific, Beiersdorf, Clarins, Cult Beauty, Estée Lauder, Johnson & Johnson, Kao Corporation, LVMH, Revlon, Shiseido, Chanel, Colgate-Palmolive, Coty, Deciem, Galderma, L'Oreal, Natura & Co, Procter & Gamble, Shanghai Jahwa and Unilever. This market report includes an easily searchable excel database for the leading companies offering skincare solutions along with information on their skincare product portfolios.

Skincare Market Report Coverage

The market report presents an in-depth analysis, highlighting the various trends in this market, across different segments. Amongst other elements, the market report includes:

  • A project background providing an introduction to the context of the Skincare Market report and different project objectives.
Skincare Market List Skincare Market Force Analysis Skincare Market Megatrends
  • An outline of the systematic research methodology adopted to conduct the study on skincare industry, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
  • An overview of economic, strategic, technological, and institutional factors that impact the overall skincare industry.
  • An executive summary of the insights captured during our research. It offers a high-level view on the current landscape of skincare products and its likely evolution in the mid-long term.
  • A general overview of the skincare industry, highlighting details on different factors contributing to improper skin health. It also features insights on the clean beauty movement along with its key principles. Further, it provides information on the different challenges faced by stakeholders engaged in the skincare industry, along with the recent developments and future perspectives associated with the market. 
  • A detailed overview of the current market landscape of leading companies engaged in the  market, along with information on several relevant parameters, such as year of establishment, company size (in terms of employee count), location of headquarters, type of product (facial care products, body care products and lip care products), product application (skin moisturization, skin cleansing, skin brightening, sun protection and anti-aging), product formulation (emulsion, liquid and solid), type of packaging (tubes, bottles, jars and others) and gender (men, women and other genders). This competitive landscape provides an insight into the leading companies.
  • Elaborate profiles of key companies engaged in the skincare industry. Each profile features a brief overview of the skincare companies, along with information on location of headquarters, year of establishment, number of employees, leadership team, product portfolio, financial information, recent developments, and an informed future outlook.
  • A qualitative analysis of the five competitive forces, including threats to new entrants, bargaining power of product providers, bargaining power of buyers, threat of substitute products and rivalry among existing competitors under an insightful Porter's Five Forces framework.
  • A qualitative assessment of the various megatrends ongoing in the skincare industry, including the adoption of waterless beauty products, personalization of skincare with AI and AR, dominance of digitization and e-commerce, inclusion of innovative bio-products, adoption of clean beauty and sustainable practices, influence of gaming and metaverse, promoting brands on social media and the evolving regulatory guidelines.
  • An in-depth analysis of the factors that can impact the growth of the market. It also features information on key drivers, potential restraints, emerging opportunities, and existing challenges within the skincare market.
Skincare Market Impact Analysis Skincare Market Geography Skincare Market Type of Product
  • A detailed estimate of the current market value and the future growth potential of the skincare market over the next decade. Based on multiple parameters, such as likely adoption trends and through reliable secondary and primary validations, we have provided an informed estimate on the market evolution during the forecast period, 2024-2035. The report also features the likely distribution of the current and forecasted opportunity within the skincare industry. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the market growth.
  • Detailed projections of the current and future opportunity for product providers in the skincare market across various type of products by application, such as skin cleansers, skin moisturizers, anti-aging products, and sun protectors and others.
  • Detailed projections of the current and future opportunity for product providers in the skin care market across various type of products by body part, such as facial care products, body care products, and lip and eye care products.
  • Detailed projections of the current and future opportunity for product providers in the market across different distribution channels, such as online distribution channels and offline distribution channels.
  • Detailed projections of the current and future opportunity for product providers in the skincare market across various offline distribution channels, such as convenience stores, super markets and pharmacies.
  • Detailed projections of the current and future opportunity for product providers in the skincare market across various type of packaging, such as tubes, bottles, jars and others.
  • Detailed projections of the current and future opportunity for product providers in the skin care market across different product categories, such as luxury skincare products and mass skincare products.
  • Detailed projections of the current and future opportunity for product providers in the market across different genders, such as men, women and other genders.
  • Detailed projections of the current and future opportunity for product providers in the skincare market across different type of ingredients, such as natural ingredients and chemical ingredients.
  • Detailed projections of the current and future opportunity for product providers in the market across different geographies, such as North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Skincare Market Gender Skincare Market Sub Segments Skincare Market Movement Analysis

Recent Developments In The Skincare Market

 Several recent developments have taken place in the market, some of which have been outlined below. 

  • In April 2024, Estée Lauder entered into a strategic partnership with Indian bridalwear designer Sabyasachi Mukherjee in order to launch a new line of lipsticks in the country.
  • In March 2024, L’Oreal launched a breakthrough molecule, Melasyl to address issues related to localized pigmentation of the skin and post-acne marks.
  • In March 2024, Galderma announced the pricing of its initial public offering (IPO) at CHF 53 / share. The shares started trading on the Swiss Exchange on 22nd March 2024. 

Author(s): Pemba Lahmo and Kumar Shagnick

Frequently Asked Questions

Question 1: What skincare products are most in demand?

Answer: Facial care products are most in demand.

Question 2: What is the market segment for skincare?

Answer: The skincare market is segmented 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.

Question 3: How big is the market for skincare?

Answer: The skincare market is expected to be valued at USD 184 billion in 2024.

Question 4: What is the prediction for the skincare market?

Answer: The global skincare market is expected to grow at a CAGR of 7.5% from 2024 to 2035.

Question 5: Who is the leader in the skincare industry?

Answer: The leaders in the skincare industry are Amorepacific, Beiersdorf, Clarins, Cult Beauty, Estée Lauder, Johnsons & Johnsons, Kao Corporation, LVMH, Revlon, Shiseido, Chanel, Colgate Palmolive, Coty, Deciem, Galderma, L'Oreal, Natura & co, Procter & Gamble, Shanghai Jahwa and Unilever.

Question 6: Who are the biggest consumers of skincare?

Answer: Presently, women capture the majority (78%) share of the global skin care market.

Question 7: Which region has the highest share of the skincare market?

Answer: Currently, Asia-Pacific captures over 30% of the market share.

Question 8: Which segments hold the largest market share?

Answer: Skin cleansers currently capture the majority share of the skin care market.

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