Skin Care Products Market by Products (Face Care, Body Care, And Baby Care), by Ingredients (Chemical and Organic), by Packaging Material (Plastic, Glass, Metal, and Others), by Gender (Male and Female), by Category (Affordable Skin Care and Premium Skin

Skin Care Products Market by Products (Face Care, Body Care, And Baby Care), by Ingredients (Chemical and Organic), by Packaging Material (Plastic, Glass, Metal, and Others), by Gender (Male and Female), by Category (Affordable Skin Care and Premium Skin Care), and by Distribution Channel (Convenience Stores, Specialist Retail Stores, Hypermarkets/Supermarkets, Online Channels, and Pharmacies/Drug Stores) – Global Opportunity Analysis and Industry Forecast, 2023–2030
Meta Title: Skin Care Products Size and Share | Statistics - 2030
Meta Des: Skin care products market size was valued at USD 145.68 Bn in 2022, and is slated to surpass USD 248.17 Bn by 2030, owing to the rising number of skin-related diseases.

Skin Care Products Market
Domain- Consumer Goods
Sub Domain- Personal Care Products

The skin care products market size was valued at USD 145.68 billion in 2022, and is predicted to reach USD 248.17 billion by 2030, with a CAGR of 6.03% during the forecast period, 2023–2030.

The demand for skin care products is increasing due to the prevalence of skin-related diseases. L’Oréal Dermatological Beauty (LDB) presented the outcomes of the comprehensive global skin health research conducted by La Roche-Posay (LRP) at the World Congress of Dermatology (WCD) held in Singapore in July 2023. This extensive study spanned 34 countries and revealed that half (50%) of the participants experienced self-reported pigmentary disorders (PD), encompassing conditions, such as vitiligo, post-inflammatory hyperpigmentation, and melasma. The findings showed that nearly a third (28%) of individuals reported a significant impact on their quality of life due to these conditions. Additionally, the study noted that 44% of those affected by PD took measures to conceal the visible areas of their skin that were affected. Simultaneously, the prevalence of various skin disorders witnessed a notable growth, prompting consumers to turn to skin care products that take care of particular concerns and provide therapeutic benefits.

However, the limited shelf life of certain skin care products poses challenges regarding product longevity and consumer investment. As consumers hesitate to invest in products that have a short lifespan, this factor can impede the overall growth potential of the skin care products market.

On the other hand, with advancements in technology such as artificial intelligence (AI) and data analytics, personalized skin care solutions tailored to an individual's unique skin type, concerns, and genetic makeup are becoming more feasible than before. Companies can offer customized products and regimens, enhancing customer satisfaction and loyalty.

Segment Overview
The global skin care products market share is segmented on the basis of products, ingredients, packaging material, gender, category, distribution channel, and region.
? By products, the market is classified into face care, body care, and baby care.
? By ingredients, the market is segmented into chemical and organic.
? By packaging material, the market is categorized into plastic, glass, metal, and others.
? By gender, the market is bifurcated into male and female.
? By category, the market is divided into affordable skin care and premium skin care.
? By distribution channel, the market is classified into convenience stores, specialist retail stores, hypermarkets/supermarkets, online channels, and pharmacies/drug stores.
? Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Regional Analysis
Asia-Pacific is projected to hold the dominant share of the market
The Asia-Pacific region is a major market for the personal care and beauty industry. The region holds the largest skin care products industry share, accounting for 43% of the global share. The driving force behind the region’s thriving skin care products industry is the growing consciousness about appearance, particularly among millennials and the urban population. Notably, this trend is not limited by gender, as the skin care products trend are witnessing a surge in demand from men. This reflects the rise of genderless skin care solutions as a prevailing trend.

In addition, key players within the market continue to lead the way through relentless R&D activities, investments, and innovative product offerings aimed at serving the extensive consumer base. For instance, Shiseido's commitment to enhancing innovation capabilities in China with an investment of around USD 140 million is a testament to this pursuit. By introducing over 150 refillable products to support circular economy initiatives and establishing an innovation fund, Shiseido underscores its dedication to sustainability. The company's ongoing investments in the R&D center further emphasize its commitment to driving the skin care innovation forward.

Moreover, numerous emerging enterprises are securing certifications to establish their presence in the global skin care products market. For instance, in July 2023, Melixir, South Korea's pioneering vegan and microbiome-friendly skin care label, unveiled its accomplishment of earning the B-Corporation™ certification. This achievement positions Melixir alongside distinguished businesses acknowledged for their noteworthy contributions to society and the environment. Melixir's resolute commitment to sustainability, notably through its ""me:cycle"" recycling initiative, was pivotal in securing this prestigious certification. Consequently, the confluence of these factors and the evolving demographic landscape is catalyzing the growth of the skin care products market in the Asia-Pacific region.

Key Market Players
The key players operating in the skin care products industry include:
• Procter & Gamble (P&G)
• Unilever PLC
• Natura & Co.
• Beiersdorf AG
• The Estée Lauder Companies, Inc.
• Johnson & Johnson
• Abbott Laboratories
• Colgate-Palmolive Company
• L’Oreal
• Shiseido Ltd.
• Galderma
• Revlon
• Coty, Inc.
• Kao Corporation
• Pfizer, Inc.

Recent Developments
May 2023
Beiersdorf established a new cosmetic production plant in Leipzig, reinforcing its commitment to skin care innovation and manufacturing. The state-of-the-art facility represents a significant step in Beiersdorf's expansion strategy and advances its ability to deliver high-quality skin care products to consumers worldwide.

May 2023
Colgate-Palmolive's latest venture unveiled an innovative anti-aging serum backed by insights from the research of the National Aeronautics and Space Administration (NASA). Drawing inspiration from advanced space science, the brand aims to revolutionize skin care with a cutting-edge serum designed to address aging concerns and promote radiant skin.

December 2022
Avon partnered with Perfect Corp. to launch a virtual try-on (VTO) online shopping experience in nine initial markets, including the U.K. Customers can instantly try the products using their smartphone camera or desktop webcam. It utilizes Perfect Corp.'s AI and augmented reality (AR) try-on technology, which produces exceptionally realistic results.

November 2022
Estée Lauder Companies (ELC) signed an agreement to acquire the TOM FORD brand, a global leader in luxury. With the ground-breaking agreement, its long-time partner, ELC, will be the owner of the TOM FORD brand along with its intellectual property. This strategic acquisition will enhance the company's long-term momentum in the lucrative luxury beauty market and reaffirm its commitment to being the leading pure player in the world's prestige beauty market.

November 2022
Murad, Inc., a subsidiary of Unilever, launched a skin care supplement product lineup to combat acne and aging. These products include vegan and clinically-proven gel capsules for wellness, youth renewal, bright + even, and clear skin.

September 2022
Johnson & Johnson launched the ""Kenvue,"" a standalone global consumer health brand. It symbolizes the fusion of knowledge and visual perspective. Kenvue's purpose, ""Realize the Extraordinary Power of Everyday Care,"" aligns with its skin care brands such as Aveeno and Neutrogena. This highlights its commitment to enhancing skin care products worldwide.

KEY BENEFITS
• The skin care products market report provides a quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the skin care products market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the skin care products market is provided in the report.
• The competitive analysis of the market players along with their market share in the skin care products market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.