Skin Care Products Market to be Worth $199.42 Billion by 2030

According to a new market research report, ‘Skin Care Products Market by Type (Facial, Lip, Body) Product (Cream, Lotion, Powder, Lotion, Moisturizer, Toner) User Group (Male, Female, Unisex) Price Category (Mass, Premium) Distribution Channel (Supermarket, Retail, Online) – Global Forecast to 2030’, published by Meticulous Research^®, the skin care products market is projected to reach $199.42 billion by 2030, at a CAGR of 5.2% from 2023 to 2030.

Skin care products are creams, powders, lotions, and moisturizers for maintaining healthy skin. These products enhance, provide nutrition, and rejuvenate a person’s skin. They are also used to massage, cleanse, and beautify the features of a person.

The growth of the skin care products market is driven by several factors, including increasing consumption of anti-aging products, increasing adoption of organic skin care products, growing importance for personal grooming, increased consumer knowledge of beauty and personal care, and increased spending on personal care. The growing penetration of e-commerce, rising demand for men’s skin care products, and the emergence of organic products are a few of the opportunities that would help grow the market in the future. The rise of colorism affecting the adoption of cosmetic creams could be considered a challenge for the skin care products market. The reluctance to use skin care products due to toxic and harmful chemicals and the greenwashing of skin care products by companies restrain the market growth.

Key Players

The report also includes an extensive assessment of the product portfolio, geographic analysis, and key growth strategies adopted by leading market players in the last three to four years. In recent years, the skin care products market has witnessed several organic and inorganic strategic developments. The key players profiled in the skin care products market report are L'Oréal S.A. (France), Johnson & Johnson, Inc. (U.S.), Unilever PLC (U.K.), Revlon, Inc. (U.S.), Avon Products, Inc. (U.S.), Colgate-Palmolive Company (U.S.), Shiseido Co., Ltd. (Japan), The Procter & Gamble Company (P&G) (U.S.), Oriflame Holding Limited (Switzerland), Estee Lauder Companies, Inc. (U.S.), and Beiersdorf AG (Germany).

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The skin care products market is segmented by type (facial care, lip care, body care), product (creams, lotions, powders, moisturizers, cleansers, toners, exfoliators, and other skin care products), distribution channel (supermarkets, specialist retail stores, e-commerce, pharmacies, and other distribution channels), price category (mass skin care products, premium skin care products), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Among products, in 2023, the creams segment is expected to account for the largest share of the market. Creams are a mixture of oil and water with a thick consistency that keeps a person’s body hydrated and fresh. They are also known to maintain the skin's health and treat various infections that can occur along with dry skin. Alongside this, creams and moisturizers are easily available, and people have various options as several companies manufacture and sell these products. The range of the prices of these creams is economically feasible, making it easier for consumers to buy them, leading to the market's growth.

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Among distribution channels, in 2023, the supermarkets segment is expected to account for the largest share of the market. Supermarkets are self-service shops that offer various products, including skin care products. Due to the rise in online shopping, supermarkets attract customers by providing discounts, deals, and offers on most products. Also, supermarkets are preferred over online shopping as people can cross-check products for damage or quality issues and immediately buy these products without worrying about delayed deliveries of products.

Among the price categories, in 2023, the mass skin care products segment is expected to account for the largest share of the market. Mass skin care products are manufactured on a large scale and are made under the basic factors considered and required for skin care, including products with ingredients that are standard and suitable for all skin types.

Among user groups, in 2023, the female segment is expected to account for the largest share of the market. Women are more conscious about their appearances than men and often buy skin care products to improve their looks and try to make their skin look and feel good using these products. As the skin is a delicate part of the body, women's skins are more sensitive than men, so they need to use skin care products to maintain the skin’s health and sensitivity.

Among geographies, in 2023, the market in North America is expected to account for the largest share of the market. The largest share is primarily driven by high disposable income in this region, high spending on personal care, and the increased trend of adopting organic products and ingredients.

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Scope of the Report:

Skin Care Products Market—by Type