As indicated by Acumen Research and Consulting, the global skin care products market size is evaluated to grow at CAGR around 4.5% over the estimate time frame. Increasing awareness towards skin care, escalating demand for herbal, natural and organic skin care products, changing lifestyle, growing demand for anti-aging products and ease of availability of various skin care products are some of the key factors that are fueling the skin care products market growth across the globe. Skin care products consist of various natural and synthetic products such as body lotions and face creams. The Asia Pacific market is likely to grow at remarkable CAGR due to availability of wide range or skin care products, growing awareness towards health and beauty and huge demand for various skin care products. Continuously changing lifestyle is playing the major role in the growth of regional skin care products market. Product modernization and increasing disposable income in the region are also expected to increase the growth of the regional market.
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Face Cream Segment is Also Anticipated to Witness a High Demand over the Forecast Period
On the basis of end-use, the skin care products market is segmented into face creams and body lotions. Face creams segment is anticipated to dominate the global skin care products market over the forecast period owing to the growing demand for anti-aging creams and skin brightening creams. Furthermore, these creams help to reduce acne scars, age spots, freckles and discoloration, thereby boosting the growth of the segment. Introduction of new product, development of various innovative creams and solutions and establishment of strategic partnerships are expected to spur the segmental growth during the forecast period. Growing demand for anti-aging creams is anticipated to boost the segment growth throughout the forecast period. Intensifying awareness towards natural components that provide UV protection is also anticipated to boost the face creams segment growth over the forecast period. On the other hand, body lotions segment is also anticipated to show significant growth rate throughout the forecast period owing to the changing lifestyle patterns and growing inclination towards the body lotions with different aroma. Body lotions do not include chemical substances, such as sulphur, ammonia and parabens, and this factor is anticipated to escalate their demand in coming years.
Asia Pacific to Continue to Grow at Maximum Growth Rate during the Forecast Period
Geographically, the global skin care products market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is expected to accumulate highest market share in the global skin care products market. Asia Pacific is expected to grow at ample growth rate over the forecast period owing to the availability of wide range or skin care products, growing awareness towards health and beauty and huge demand for various skin care products. Continuously changing lifestyle is playing the major role in the growth of regional skin care products market. Growth in the adoption of skin care products and ongoing technological advancements in the region are also helping the growth of the regional market. Growth in the young population and inclination towards more advanced skin care products are supplementing the regional market growth. Large numbers of small and large scale skin care products manufacturers from the region are rapidly investing in skin care products in order to offer more innovative and cost effective products to the customers. Europe is also anticipated to growth at considerable pace during the forecast period owing to the continuous development of various innovative creams and solutions escalating demand for various skin care products. Growing demand for anti-aging creams is anticipated to boost the regional market growth throughout the forecast period.
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L'Oréal S.A.; Beiersdorf AG, Johnson and Johnson and Colgate-Palmolive Company are Likely to Continue to Lead the Global Skin Care Products Market
The skin care products market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are L'Oréal S.A.; Beiersdorf AG; The Estée Lauder Companies, Inc.; Unilever; Johnson and Johnson; Colgate-Palmolive Company; Shiseido Company, Ltd.; Revlon, Inc.; Avon Products, Inc. and Procter & Gamble Company.
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