June 22, 2024

Skincare Market Size to Grow US$ 284.97 Billion By 2032

The global skincare market size was approximately US$ 157.64 billion in 2023 and is anticipated to grow US$ 284.97 billion by 2032, registering a compound annual growth rate of 6.80% from 2023 to 2032.

Skincare Market Size 2023 To 2032

Key Takeaways

  • Asia Pacific contributed more than 48% of revenue share in 2022.
  • North America is estimated to expand the fastest CAGR between 2023 and 2032.
  • By products, the creams and moisturizers segment has held the largest market share of 35% in 2022.
  • By products, the powder segment is anticipated to grow at a remarkable CAGR of 7.2% between 2023 and 2032.
  • By distribution channel, the offline segment generated over 68% of revenue share in 2022.
  • By distribution channel, the online segment is expected to expand at the fastest CAGR over the projected period.
  • By gender, the female segment generated over 72% of revenue share in 2022.
  • By gender, the male segment is expected to expand at the fastest CAGR over the projected period.
  • By packaging, the tubes segment generated over 41% of revenue share in 2022.
  • By packaging, the bottles and jars segment is expected to expand at the fastest CAGR over the projected period.

The skincare market has experienced substantial growth in recent years, driven by a convergence of factors that underscore the increasing global emphasis on personal well-being and appearance. This expansive industry encompasses a wide array of products, ranging from cleansers and moisturizers to serums and sunscreen. One of the primary growth drivers is the growing awareness among consumers regarding skincare and the importance of maintaining healthy skin. Advancements in technology and a surge in research and development have led to the introduction of innovative and effective skincare ingredients, formulations, and devices, further propelling market expansion.

The increasing adoption of a skincare routine as part of daily self-care rituals, particularly among millennials and the younger demographic, has significantly contributed to market growth. Additionally, the rise of e-commerce platforms has revolutionized distribution channels, making skincare products more accessible to a global consumer base. Social media and influencers play a pivotal role in shaping consumer preferences and driving demand for specific skincare brands and products.

Moreover, a heightened focus on natural and organic ingredients has fueled the demand for clean beauty products within the skincare market. Consumers are increasingly seeking products that align with their values, emphasizing sustainability, cruelty-free practices, and eco-friendly packaging. This shift in consumer preferences has led many skincare companies to reevaluate and reformulate their products, integrating environmentally friendly practices into their business models.

The skincare market is poised for continued growth as it adapts to evolving consumer needs and preferences. As the beauty and wellness industry continues to thrive, fueled by a growing global population and an increasing awareness of skincare benefits, the market is likely to witness further innovations, strategic partnerships, and a diversification of product offerings to meet the dynamic demands of consumers across different demographics.

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Skincare Market Scope

Report Coverage Details
Growth Rate from 2023 to 2032 CAGR of 6.80%
Market Size in 2023 USD 157.64 Billion
Market Size by 2032 USD 284.97 Billion
Largest Market Asia Pacific
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Product, By Distribution Channel, By Gender, and By Packaging
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Also read: Rapid Prototyping Market

By Product:

The skincare market boasts a diverse range of products catering to various consumer needs. From cleansers and moisturizers to serums and masks, the industry encompasses a comprehensive array of offerings. Anti-aging creams and sunscreens have carved out significant niches, addressing specific concerns of different age groups. The market continually evolves with innovations, incorporating natural and organic ingredients, personalized formulations, and cutting-edge technologies to meet the ever-growing demands of skincare enthusiasts.

By Distribution Channel:

Skincare products reach consumers through multiple distribution channels, each playing a unique role in the market. Traditional brick-and-mortar stores, such as department stores and specialty beauty retailers, offer consumers a tactile experience, allowing them to sample products before purchase. In contrast, the rise of e-commerce has revolutionized the skincare landscape, providing convenience and a vast array of options with just a few clicks. Direct-to-consumer models and subscription services further contribute to the accessibility of skincare products, fostering a dynamic and competitive market.

By Gender:

The skincare market has evolved beyond generic offerings to address the diverse needs of different genders. While unisex products remain prevalent, there’s a growing trend toward gender-specific formulations. Men’s skincare has witnessed a surge in popularity, with specialized products designed to cater to the unique characteristics of male skin. Likewise, women’s skincare continues to expand, encompassing a wide spectrum from basic daily routines to elaborate anti-aging regimens. This segmentation reflects an industry attuned to the nuances of individual skincare needs.

By Packaging:

Packaging plays a crucial role in the skincare market, serving both functional and aesthetic purposes. Sustainable and eco-friendly packaging has gained prominence as consumers prioritize environmentally conscious choices. Additionally, innovations such as airless pumps and UV-protective materials contribute to product longevity and efficacy. The visual appeal of packaging, including vibrant colors and minimalist designs, often influences purchasing decisions. As the industry embraces a holistic approach, packaging becomes an integral part of the skincare experience, reflecting values of quality, sustainability, and consumer engagement.

Research Approach

The comprehensive report on the global skincare market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products. Following this, the report provides detailed explanation of objectives of this study and laid down by accredited agencies in the purview of research in the global skincare market.

It is followed by market introduction, market dynamics, and an overview of the global market, which includes analysis of market drivers, restraints, and trends pertaining to the global market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

Skincare Market Players

  • L’Oréal S.A.
  • Procter & Gamble Co.
  • Johnson & Johnson
  • Estée Lauder Companies Inc.
  • Unilever PLC
  • Beiersdorf AG
  • Shiseido Company, Limited
  • Colgate-Palmolive Company
  • Avon Products, Inc.
  • Coty Inc.
  • Kao Corporation
  • Amorepacific Corporation
  • Mary Kay Inc.
  • Revlon, Inc.
  • The Body Shop International Limited

Segments Covered in the Report

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

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Skincare Market 

5.1. COVID-19 Landscape: Skincare Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Skincare Market, By Products

8.1. Skincare Market Revenue and Volume Forecast, by Products, 2023-2032

8.1.1. Creams and Moisturizers

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. Powder

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

8.1.3. Cleansers and Face Wash

8.1.3.1. Market Revenue and Volume Forecast (2020-2032)

8.1.4. Others

8.1.4.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Skincare Market, By Distribution Channel

9.1. Skincare Market Revenue and Volume Forecast, by Distribution Channel, 2023-2032

9.1.1. Online

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Offline

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Skincare Market, By Gender 

10.1. Skincare Market Revenue and Volume Forecast, by Gender, 2023-2032

10.1.1. Male

10.1.1.1. Market Revenue and Volume Forecast (2020-2032)

10.1.2. Female

10.1.2.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 11. Global Skincare Market, By Packaging 

11.1. Skincare Market Revenue and Volume Forecast, by Packaging, 2023-2032

11.1.1. Tubes

11.1.1.1. Market Revenue and Volume Forecast (2020-2032)

11.1.2. Bottles and Jars

11.1.2.1. Market Revenue and Volume Forecast (2020-2032)

11.1.3. Others

11.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 12. Global Skincare Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.1.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.1.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.1.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.1.5. U.S.

12.1.5.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.1.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.1.5.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.1.5.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.1.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.1.6.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.1.6.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.2. Europe

12.2.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.2.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.2.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.2.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.2.5. UK

12.2.5.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.2.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.2.5.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.2.5.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.2.6. Germany

12.2.6.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.2.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.2.6.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.2.6.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.2.7. France

12.2.7.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.2.7.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.2.7.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.2.7.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.2.8.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.2.8.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.2.8.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.3. APAC

12.3.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.3.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.3.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.3.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.3.5. India

12.3.5.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.3.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.3.5.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.3.5.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.3.6. China

12.3.6.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.3.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.3.6.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.3.6.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.3.7. Japan

12.3.7.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.3.7.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.3.7.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.3.7.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.3.8.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.3.8.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.3.8.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.4. MEA

12.4.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.4.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.4.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.4.5. GCC

12.4.5.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.4.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.4.5.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.4.5.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.4.6. North Africa

12.4.6.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.4.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.4.6.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.4.6.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.4.7. South Africa

12.4.7.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.4.7.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.4.7.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.4.7.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.4.8.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.4.8.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.4.8.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.5. Latin America

12.5.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.5.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.5.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.5.5. Brazil

12.5.5.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.5.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.5.5.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.5.5.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Volume Forecast, by Products (2020-2032)

12.5.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)

12.5.6.3. Market Revenue and Volume Forecast, by Gender (2020-2032)

12.5.6.4. Market Revenue and Volume Forecast, by Packaging (2020-2032)

Chapter 13. Company Profiles

13.1. L’Oréal S.A.

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Procter & Gamble Co.

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Johnson & Johnson

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Estée Lauder Companies Inc.

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Unilever PLC

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Beiersdorf AG

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Shiseido Company, Limited

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Colgate-Palmolive Company

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Avon Products, Inc.

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Coty Inc.

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global skincare market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for skincare are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2023-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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