Skin Care Products Industry to Reach USD 183.03 Billion by 2025
by Susan Hill Business ConsultantThe global skin care products market size is projected to reach
USD 183.03 billion by 2025 expanding at a CAGR of 4.4%, according to a new
report by Grand View Research, Inc. Increasing demand for natural, herbal, and
organic products that have no adverse effects is expected to boost the market
growth over the forecast period. Skin care products include various synthetic
and natural products, such as body lotions and face creams. Rising concerns
regarding skin problems are also driving the skin care products industry.
Rising awareness about
natural ingredients providing UV protection is also expected to fuel the market
growth. With the rising geriatric population, demand for products with
anti-aging properties is expected grow, thereby driving the overall market. Organic
skin care product manufacturers focus more on the development of newer
formulations targeted at fighting the effects of skin aging. Rising awareness
about skin care has led to the inclusion of sun protection, anti-aging, and
anti-wrinkle properties in skin care and makeup products.
Although, increased concerns
regarding authenticity of products has been encouraging emerging manufacturers
to enter the market; intense competition may pose a serious challenge to the
market growth. High costs of organic and natural skin care products are also
expected to hamper market growth over the next few years. However, increasing
demand for organic body lotion products, especially in countries like Canada,
India, and Mexico, on account of rising consumer awareness regarding benefits
of natural ingredients like turmeric and neem is expected to have a positive
impact on the market.
Further key findings from the study suggest:
- Favorable regulatory support in countries
like India and Mexico encouraging investments at domestic level is
expected to open new avenues for the market in future
- Body lotion is anticipated to be the
fastest-growing product segment at a CAGR of 5.1% from 2019 to 2025
- Face cream segment led the global skin
care products market in 2018 and is projected to expand further during the
estimated period
- The market is characterized by the
presence of major companies, such as L’Oréal S.A, Unilever PLC, Beiseidorf
AG, and Colgate Palmolive
Access full research report on global skin
care products market:
www.grandviewresearch.com/industry-analysis/skin-care-products-market
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Created on May 4th 2020 14:40. Viewed 287 times.