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Skincare Products Market by Product, Product Specification, Distribution Channel, and Geography - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR41014
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The skincare products market share is expected to increase by USD 50.04 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6%.

This skincare products market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers skincare products market segmentation by product (face skincare products and body skincare products), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and MEA). The skincare industry analysis report also offers information on several market vendors, including Beiersdorf AG, CHANEL Ltd., Groupe Clarins, Johnson & Johnson, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter & Gamble Co., and Unilever Group among others.

What will the Skincare Products Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Skincare Products Market Size for the Forecast Period and Other Important Statistics

 

Skincare Products Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing adoption of home salon and spa services is notably driving the skincare products market growth, although factors such as stringent regulations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the skincare products industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Skincare Products Market Driver

One of the key factors driving growth in the skincare products market is the growing adoption of home salon and spa services. Over the last decade, the number of app-based salon and spa service providers that offer at-home grooming services has grown significantly. Mobile apps enable consumers to order salon and spa services and meet make-over artists personally at the given address. Housejoy and GLAMSQUAD have their mobile and desktop applications for clients to book an appointment for grooming services. These services have witnessed an expansion and high demand due to their low service charges and the convenience of grooming services at home. Therefore, the availability of such personalized home salon and spa services is expected to propel the growth of the market in focus in terms of consumption during the forecast period.

Key Skincare Products Market Trend

The increasing R&D activities is another factor supporting the skincare products market share growth. Conglomerate companies are investing significantly in technologies to innovate and introduce several new advanced skincare products that offer improved features to meet the growing demand from people around the world. Companies are focusing on R&D activities to develop multifunctional products due to the increasing demand for multifunctional skincare products from people with less disposable incomes. These multifunctional products have a major demand in the market. The increasing number of R&D activities, coupled with growing product innovations by skincare companies, are expected to spur market growth.

Key Skincare Products Market Challenge

The stringent regulations will be a major challenge for the skincare products market during the forecast period. In the US, the Food and Drug Administration (FDA) regulates the use of toxic ingredients in skincare products, but the FDA does not pre-test cosmetic products. Therefore, it is a regulatory issue. The use of toxic ingredients in skincare products may result in health hazards if used in excessive capacity. The government regulations emphasize more on product labeling; the manufacturers are required to label all the ingredients used in the skincare products. The fact that skincare manufacturers who aim to penetrate a market ought to abide by governmental rules and regulations on product composition, labeling, and packaging makes entry into a new market a strenuous task.

This skincare products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global skincare products market as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the skincare products market during the forecast period.

Who are the Major Skincare Products Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Beiersdorf AG
  • CHANEL Ltd.
  • Groupe Clarins
  • Johnson & Johnson
  • Revlon Inc.
  • Shiseido Co. Ltd.
  • The Estee Lauder Companies Inc.
  • The Procter & Gamble Co.
  • Unilever Group

 

This statistical study of the skincare products market encompasses successful business strategies deployed by the key vendors. The skincare products market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • The Procter & Gamble Co. - The company offers various skin care products such as creams, face wash, serums, and moisturizers under the brand name Olay.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The skincare products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Skincare Products Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the skincare products market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the personal products market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Skincare Products Market?

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47% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for skincare products in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing concern for personal hygiene and wellness will facilitate the skincare products market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The presence of several unorganized vendors operating in the skincare products market poses a serious threat to the market in APAC, especially in China and India; however, due to the restrictions on the operations of retail outlets and manufacturing facilities, the sales of skincare products from unorganized vendors are likely to decline and provide opportunities to established vendors to capture the market through online retailing. Various retailers and brands in the regional skincare products market face short-term challenges related to cash flows, supply chains, health and safety, and consumer demand. As the employees working in retail stores are also exposed to a high risk of getting COVID-19, retailers in APAC are either working with a limited workforce or temporarily closing their stores as per the government guidelines, which may adversely impact the revenues of companies.

What are the Revenue-generating Product Segments in the Skincare Products Market?

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The skincare products market share growth by the face skincare products segment will be significant during the forecast period. The increase in the older population and advances in the technology used in manufacturing facial skincare products are the factors that contribute to the growth of the segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the skincare products market size and actionable market insights on post COVID-19 impact on each segment.

 

Skincare Products Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2021-2025

$ 50.04 billion

Market structure

Fragmented

YoY growth (%)

5.01

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 47%

Key consumer countries

China, US, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Beiersdorf AG, CHANEL Ltd., Groupe Clarins, Johnson & Johnson, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter & Gamble Co., and Unilever Group

Market dynamics

Parent market analysis, Market growth inducers and obstacles, 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 report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Skincare Products Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive skincare products market growth during the next five years
  • Precise estimation of the skincare products market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the skincare products industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of skincare products market vendors

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Executive Summary

Market Landscape

  • Market ecosystem

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019-2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Face skincare products - Market size and forecast 2019-2024
  • Body skincare products - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel
  • Offline - Market size and forecast 2019-2024
  • Online - Market size and forecast 2019-2024
  • Market opportunity by Distribution channel

Market Segmentation by Product specifications

  • Market segments
  • Comparison by Product specifications
  • Skin brightening products - Market size and forecast 2019-2024
  • Anti-aging skincare products - Market size and forecast 2019-2024
  • Sun protection products - Market size and forecast 2019-2024
  • Moisturizers - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Product specifications

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume driver - Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Beiersdorf AG
  • CHANEL Ltd.
  • Groupe Clarins
  • Johnson & Johnson Services Inc.
  • LOreal SA
  • Procter & Gamble
  • Revlon Consumer Products Corp.
  • Shiseido Co. Ltd.
  • The Estee Lauder Companies
  • Unilever PLC

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The skincare products market growth will increase by $39.01 billion during 2021-2025.
The skincare products market is expected to grow at a CAGR of 5.01% during 2021-2025.
Technavio has segmented the skincare products market by product (Face skincare products and Body skincare products) ,other 1 (Skin brightening products, Anti aging skincare products, Sun protection products, Moisturizers, and Others) , and geographic (APAC, Europe, North America, and South America).
Beiersdorf AG, CHANEL Ltd., Groupe Clarins, Johnson & Johnson Services Inc., LOreal SA, Procter & Gamble, Revlon Consumer Products Corp., Shiseido Co. Ltd., The Estee Lauder Companies, Unilever PLC are a few of the key vendors in the skincare products market.
APAC will register the highest growth rate of 49.87% among the other regions. Therefore, the skincare products market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the skincare products market growth are:
  • Growing population in the age group of 30-50 years
  • Rising demand for multifunctional skincare products
The skincare products market vendors should focus on grabbing business opportunities from the face skincare products segment as it accounted for the largest market share in the base year.
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