Skin Care Products Market

Skin Care Products Market – Global Industry
Analysis, Size, Share, Growth, Trends, and
Forecast 2015 – 2021
The global skin care products market demonstrates a highly
competitive business landscape, states a new research report by
Transparency Market Research (TMR). The leading vendors of skin care
products are focused on maintaining their stronghold on this market
through their diverse product portfolio, which they are continuously
updating to cater to the specific demands of their customers. In
addition to premium products, the emphasis on offering budget
products has also increased among the vendors as to reach the middle
class populace. L’Oréal S.A., The Estee Lauder Companies Inc., Johnson
& Johnson Services Inc., Beiersdorf, Avon Products Inc., Procter &
Gamble, Kao Corp., and Unilever are some of the leading players in this
market reviewed in this report.
According to TMR estimations, the opportunity in the global market for
skin care products is expected to expand at a steady CAGR of 4.90%
over the period from 2015 to 2021, increasing from a value of US$110.7
bn in 2014 and reaching US$155.4 bn by the end of the period of the
forecast. Face cream and body lotion are the two main products
available in this market. Among the two, the demand for face cream is
relatively higher and the trend is anticipated to remain so over the next
few years. Among the regional markets, Asia Pacific has occupied the
leading position and is projected to remain seated there in the years to
come, reports the market study.
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Increasing Interest of Consumers towards Personal Grooming Fuels
Demand for Skin Care Products
The global market for skin care products have been observing a
substantial rise in its valuation. As per a TMR analyst, “the augmenting
interest of consumers towards personal grooming, together with their
escalating disposable incomes, is boosting the market for skin care
products across the world.” Apart from this, the rising demand for skin
lightening products, increased uptake of anti-aging products by the
geriatric population, aggressive marketing, augmenting shift of
consumers towards natural and organic products, and the expanding
range of men’s skin care products are also supporting this market
substantially, notes the research study.
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Skin Care Products Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021