Skincare Market Size Predicted to Hit USD 273.3 Billion, Globally, by 2031 at 6.7% CAGR, Says Allied Market Research

Skincare 2024

Skincare 2024

With the rise of social media and beauty influencers, people are becoming more interested in skincare and personal grooming.

PORTLAND, OREGON, UNITED STATES, September 29, 2023 / -- Allied Market Research published a report, titled, "Skincare Market by Products (Creams and Moisturizers, Powder, Cleansers and Face Wash, Others), by Distribution Channel (Online, Offline), by Gender (Male, Female), by Packaging (Tubes, Bottles and Jars, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global skincare industry was estimated at $146.7 billion in 2021 and is anticipated to hit $273.3 billion by 2031, registering a CAGR of 6.7% from 2022 to 2031.

The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining competitive edge in the market.

๐ˆ๐ฆ๐ฉ๐š๐œ๐ญ ๐จ๐Ÿ ๐‚๐จ๐ฏ๐ข๐-๐Ÿ๐Ÿ— ๐จ๐ง ๐’๐ค๐ข๐ง ๐‚๐š๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ:

โ€ข As consumers spent more time at home and wore masks in public, the skincare and cosmetics sectors were highly affected.
โ€ข Also, customers were only seen to buy online cosmetics, which again had an adverse impact on the global skincare market altogether.

๐†๐ž๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐†๐ซ๐š๐ฉ๐ก๐ฌ ๐š๐ง๐ ๐…๐ข๐ ๐ฎ๐ซ๐ž๐ฌ ๐‡๐ž๐ซ๐ž:

๐–๐ก๐š๐ญ ๐š๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐œ๐ž๐ง๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐’๐ค๐ข๐ง ๐‚๐š๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ?

Increasing prevalence of autoimmune diseases among people drives the growth of the global antinuclear antibody test market. Moreover, the fact that antinuclear antibody tests are becoming more and more popular as a way to diagnose autoimmune diseases such as rheumatoid arthritis, Systemic Lupus Erythematosus, Sjogren's Syndrome, and others has supplemented the growth even more. Moreover, growing government healthcare insurance and rising awareness about autoimmune disorders are expected to create lucrative opportunities in the industry.

๐“๐จ๐ฉ ๐’๐ค๐ข๐ง๐œ๐š๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ

โ€ข L'Oreal
โ€ข Estรฉe Lauder
โ€ข Unilever
โ€ข Procter & Gamble
โ€ข Shiseido
โ€ข Johnson & Johnson
โ€ข Colgate-Palmolive
โ€ข Amorepacific
โ€ข Beiersdorf
โ€ข Kao Corporation

๐’๐ค๐ข๐ง๐œ๐š๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐œ๐š๐ง ๐›๐ž ๐๐จ๐ง๐ž ๐›๐š๐ฌ๐ž๐ ๐จ๐ง ๐ฌ๐ž๐ฏ๐ž๐ซ๐š๐ฅ ๐Ÿ๐š๐œ๐ญ๐จ๐ซ๐ฌ, ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ข๐ง๐ :

By products, the creams and moisturizers segment accounted for the highest share in 2021, holding more than two-fifths of the global skincare market revenue. The same segment would also showcase the fastest CAGR of 7.0% from 2022 to 2031. This is because creams and moisturizers perfectly maintain the skin's equilibrium.

By gender, the female segment contributed to the major share in 2021, generating nearly three-fourths of the global skincare market revenue, and is projected to retain its dominance by 2031. The same segment would portray the fastest CAGR of 6.8% from 2022 to 2031. This is attributed to the fact that females all around the world rely on skin care products since they have an empowering influence on them. As a result, women have more access to cosmetics such as moisturizers, lipsticks, eye shadows, and nail polishes.

By packaging, the tubes segment garnered the highest share in 2021, generating more than half of the global skincare market revenue. The same segment would also cite the fastest CAGR of 6.9% throughout the forecast period. This is due to the fact that cosmetic tubes are one of the most inventive cosmetic packaging products. Tubes are used to transport, carry, and store cosmetics. Product tubes are commonly used as primary packaging in the cosmetic market.

By region, Asia-Pacific generated nearly half of the global skincare market share in 2021, holding the highest market revenue and is projected to rule the roost by 2031, owing to the growing preference toward both high-end and mass-produced cosmetics across the region. North America, simultaneously, would portray the fastest CAGR of 7.4% during the forecast period. The presence of well-known product manufacturers in North America, such as Procter & Gamble and Unilever, as well as the expanding retail infrastructure, has boosted the market growth.

Purchase the Report:

Key Benefits For Stakeholders

โ€ข This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Skincare Market analysis from 2021 to 2031 to identify the prevailing Skincare Market opportunities.
โ€ข The market research is offered along with information related to Skincare Market forecast, key drivers, restraints, and opportunities.
โ€ข Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
โ€ข In-depth analysis of the Skincare Market segmentation assists to determine the prevailing market opportunities.
โ€ข Major countries in each region are mapped according to their revenue contribution to the global market.
โ€ข Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
โ€ข The report includes the analysis of the regional as well as global Skincare Market trends, key players, market segments, application areas, and market growth strategies.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

โ€ข Which are the driving factors responsible for the growth of market?
โ€ข Which are the roadblock factors of this market?
โ€ข What are the new opportunities, by which market will grow in coming years?
โ€ข What are the trends of this market?
โ€ข Which are main factors responsible for new product launch?
โ€ข How big is the global & regional market in terms of revenue, sales and production?
โ€ข How far will the market grow in forecast period in terms of revenue, sales and production?
โ€ข Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
โ€ข How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
โ€ข Which region has more opportunities?

By Region Outlook

โ€ข North America
(U.S., Canada, Mexico)
โ€ข Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
โ€ข Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Contact Details:

David Correa
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of โ€œMarket Research Reportsโ€ and โ€œBusiness Intelligence Solutions.โ€ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
+ +1 800-792-5285
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