Enjoy complimentary customisation on priority with our Enterprise License!
The professional skincare market size is forecast to increase by USD 4.22 billion at a CAGR of 5.31% between 2023 and 2028. The market is experiencing significant growth, driven by key trends and challenges. Product innovation and product line extension are leading to product premiumization, as consumers seek advanced and personalized skincare solutions. Additionally, there is an increased demand for organic skincare products, as consumers become more health-conscious and environmentally aware. Concurrently, similar benefits from low-priced consumer category products pose a challenge to the market, as they cater to budget-conscious consumers. Overall, the market is expected to grow steadily, with a focus on innovation, sustainability, and consumer education.
The market caters to the growing awareness and demand for good skin among women and men. Skin types and conditions, including burns, scars, patchy skin, itchy skin, and dry skin, are common concerns that drive the market. Skin problems caused by UV rays and other environmental factors further fuel the need for effective skincare solutions. The market offers a range of products, such as cleansers, moisturizers, lotions, serums, and creams, to address various skin issues. These products are designed to soften, revitalize cells, and provide hydration for a fresh, healthy look. Cosmetic businesses continue to innovate, creating personal grooming solutions tailored to specific skin patterns and concerns.
Moreover, the emphasis on skin health as a crucial aspect of personal well-being has led to increased demand for high-quality skincare products. As a result, the market is expected to grow steadily, with an emphasis on addressing diverse skin types and conditions. The use of advanced ingredients and technologies is a key trend, as consumers seek effective, science-backed solutions for their skincare needs.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The face skincare products segment is estimated to witness significant growth during the forecast period. The market for face care products holds a significant market share, driven primarily by the cosmetics industry's expansion. This growth can be attributed to the increasing awareness of professional skincare's advantages, particularly in addressing signs of aging such as wrinkles, dark spots, dark circles, hyperpigmentation, and uneven skin tones. In response to this rising demand, manufacturers are developing customized kits containing UV absorbers and multifunctional, natural ingredients to cater to specific skin concerns. The aging population's growth worldwide further fuels the demand for anti-aging professional skincare solutions.
Get a glance at the market share of various segments Request Free Sample
The face skincare products segment was valued at USD 9.38 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 63% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market is witnessing a significant due to the rise in concerns regarding skin health and appearance. Anti-aging, anti-dehydration, anti-pigmentation, sun protection, and skin nourishment are some of the primary categories driving market growth. Spas and salons, retail stores, and medical institutions are key distribution channels. Skin concerns such as black spots, acnes, tanning, dullness, redness, irritation, discoloration, and quick aging are addressed through a variety of skincare products. These include scrubs, toners, sunscreen creams, and intense advertising activities for anti-aging and skin-nourishing products. The herbal skin care, utilizing leaf extracts and root extracts, is gaining popularity due to the perceived benefits of natural products and the potential side effects of synthetic chemicals. Cosmetic businesses are continually innovating to meet consumer demands, offering a wide range of beauty products for softening and enhancing skin.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Product innovation and product line extension leading to product premiumization are the key drivers of the market. The market caters to the increasing demand for revitalizing cells and achieving a fresh, youthful look among tech-savvy individuals and various demographics. Vendors are continuously innovating their product offerings to address multiple skin concerns, such as skin brightening, cracked heels for the aged population, and changing lifestyles. Skincare ingredients like antioxidants, hyaluronic acid, retinol, and sunscreen lotions are essential in protecting skin from continuous sun exposure and rapid aging. Sustainable and environmentally friendly products, such as those free from plastic beads and BioPowder, are gaining popularity due to concerns over waste generation, carbon footprint, and animal rights. Vegan ingredients and plant-based products are also on the rise as consumers become more conscious of cell damage and cosmetic product irritation. Overall, the market is experiencing significant growth due to increasing customer spending and the availability of innovative, high-quality skincare solutions.
Increased demand for organic skincare products is the upcoming trend in the market. The market is witnessing a significant shift towards revitalizing cells and providing a fresh look through organic and natural skincare products. With the increasing awareness about the potential skin damage caused by synthetic ingredients, tech-savvy individuals and the younger population are opting for skin-brightening products made from natural sources. Organic skincare offerings include lotions, serums, and creams infused with antioxidants, hyaluronic acid, and retinol. These ingredients help combat cell damage caused by continuous sun exposure and pollution. Moreover, the aged population is also showing a growing interest in organic skincare products, as they address concerns such as cracked heels and rapid aging.
Moreover, the changing lifestyles and increasing healthcare consciousness have led to a demand for sustainable and environmentally friendly skincare products. This includes the avoidance of plastic beads and the adoption of biodegradable microbeads, such as BioPowder, to reduce waste generation and carbon footprint. Additionally, vegan ingredients and plant-based products are gaining popularity due to concerns about animal rights and ethical sourcing. Skincare product manufacturers are responding to these trends by extending their product lines to include more organic offerings. This not only helps them cater to the evolving consumer preferences but also differentiates their brand from competitors. It is essential to note that while organic skincare products offer numerous benefits, it is crucial to ensure they are stored properly, as some ingredients may degrade over time when exposed to air or sunlight.
This can affect their efficacy and potentially lead to skin irritation or other issues. Therefore, proper storage in tubs, jars, or bottles is essential to maintain the integrity and quality of organic skincare products.
Similar benefit from low-priced consumer category products is a key challenge affecting the market growth. The market caters to the demand for revitalizing cells and achieving a fresh look among tech-savvy individuals and the younger population. Skincare products such as lotions, serums, and creams are formulated with advanced skincare ingredients like antioxidants, hyaluronic acid, and retinol. However, adoption of these products is not uniform across all demographics, particularly in developing countries where consumers continue to rely on traditional homemade remedies for skin concerns. These remedies, which include milk, cheese, baking soda, oatmeal, tomato pulp, sandalwood powder, almond, and honey, are popular due to their natural and organic nature and affordability. However, with changing lifestyles and increasing awareness, the demand for skin brightening products and sunscreen lotions is on the rise.
However, continuous exposure to the sun is a significant cause of skin damage, leading to skin irritation, rapid aging, and even skin cancer, including melanoma. Sustainable and environmentally friendly skincare products are gaining popularity among consumers, with a shift towards bio-based ingredients like bio powder and biodegradable microbeads, reducing waste generation and carbon footprint. Furthermore, vegan ingredients and plant-based products are preferred by consumers for ethical and health reasons. Despite the benefits of professional skincare products, some consumers are wary of their impact on the environment and animal welfare. The use of plastic beads in exfoliating products has been a major concern due to plastic pollution.
Therefore, skincare brands must adopt eco-friendly practices and transparent labeling to gain consumer trust and loyalty. The future of the skincare market lies in sustainable, ethical, and effective solutions that cater to the diverse needs and concerns of consumers. In summary, the market is driven by the demand for advanced skincare solutions among tech-savvy individuals and the younger population. However, adoption of these products is not uniform, with many consumers in developing countries relying on traditional remedies. Skincare brands must address consumer concerns regarding sustainability, ethics, and affordability to gain market share and build consumer loyalty.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc. - The company offers various skin concerns, employing the latest scientific research and innovative ingredients.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a thriving industry that caters to the growing demand for good skin. This market addresses various skin types, conditions, and issues, including burns, scars, patchy skin, itchy skin, and dry skin. Skin concerns caused by environmental factors, such as UV rays, also receive significant attention. Aestheticians and dermatologists play crucial roles in providing product knowledge and recommendations. The market offers a wide range of products, including creams, lotions, powders, sprays, and masks, tailored to different skin types, such as neutral, oily, mixed, and sensitive. Premium, organic, and natural products are increasingly popular, as consumers seek effective and healthier alternatives to conventional offerings.
Moreover, the retail channels include offline stores like departmental stores, specialist stores, mono-brand stores, and convenience stores, as well as online retail platforms. Air pollution, wrinkles, and early skin aging are significant concerns driving market growth. The creams, powders, and lotions segments dominate the market, with sprays and masks gaining traction due to their convenience and unique benefits. Skin conditions and issues continue to shape the market landscape.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
177 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
|
Market growth 2024-2028 |
USD 4.22 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.94 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 63% |
|
Key countries |
China, US, Japan, Germany, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AbbVie Inc., Bausch Health Companies Inc., Beiersdorf AG, Chanel Ltd., Coty Inc., Eminence Organic Skin Care, Episciences Inc., Fountain Of Youth Skincare, Groupe Clarins, Guinot SAS, Lancer Skincare LLC, LOccitane Groupe SA, LOreal SA, Natura and Co Holding SA, Obagi Cosmeceuticals LLC, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
