Press release
Skin Care Products Larger Demand for face as compared to the body care products
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
Skin care products are largely available in all parts of the world, ranging from anti-ageing and anti-wrinkle creams to sunscreens and moisturizers. The market for skin care products is projected to grow with a CAGR of around 5.5% during the forecast period, i.e., 2019-2027. The market is segmented by product, by application, by distribution channel and by region, out of which, the product segment is further segmented into cleansers, exfoliators, face masks, body lotions, moisturizers, sunscreens, anti-ageing creams and others.
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The segment for anti-ageing creams is estimated to observe a lucrative growth over the forecast period as a result of rising elderly population. On the basis of application, the market is bifurcated into face and body, out of which, the face segment is predicted to observe the highest market growth. This can be attributed to a larger demand for skin care products for face as compared to the body care products.
Based on regional analysis, the skin care products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is predicted to hold the leading share in the skin care products market as a result of growing population and the presence of a large number of organic ingredients in the region that are grown locally promotes their usage in these products in place of synthetically-derived substances.
Growing Incidences of Melanoma to Drive the Market Growth
According to the United States Environmental Protection Agency, the exposure to UV rays increases the risk for melanoma, the most serious form of skin cancer. It occurs among people between the ages 15 and 29. It accounts for around 3% of all cancer cases and over 75% of deaths by skin cancer.
The growing awareness among people about advantages of organic products as well as skin care products for skin protection is anticipated to contribute towards the growth of skin care products market in the upcoming years. However, the growing competition in skin care products market and the rising costs of products are estimated to hamper the market growth in the upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global skin care products market which includes company profiling:
L'Oreal Paris, Unilever, Estee Lauder Companies Inc., Johnson & Johnson Services, Inc., Revlon, New Avon Company, Beiersdorf AG, Colgate-Palmolive Company, Shiseido and Procter & Gamble.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global skin care products market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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