Global Skincare Body Products Market Grows Steadily at a CAGR of 6.75%

Skincare products are used to improve and maintain the appearance of human skin. These products promote the regular replacement of aging skin cells, fight wrinkles, fine lines, and age spots, and safeguard the skin's overall health. Because it differs from region to region and considers the various types of skin that exist globally, the global market for skin care products is very diverse. Skin care includes procedures that protect skin integrity, enhance skin appearance, and address skin conditions. The key factors affecting the global skin care products include an increase in demand for skin care products, a rise in consumer awareness of cutting-edge skin care products, new product innovation, high investments in emerging markets, and other factors. Market Dynamics Growing Popularity of Personal Grooming and Rising Demand for Eco-Friendly Products Drives the Global Market The demand for skin nourishment products has increased due to various factors, such as the increase in acne, black spots, scars, dullness, and tanning, which have heightened concerns about skin nourishment. The younger population has a greater need for skin-brightening products, toners, and scrubs, whereas the older population has a greater need for wrinkle-relieving products and cracked-heels treatments. It is anticipated that shifting consumer spending habits and lifestyles will contribute to the expansion of the market. In addition, the increasing popularity of men's grooming products, manufacturers' aggressive marketing campaigns, and the trend towards digitization has increased consumer awareness of skin care products. Consumers are now focusing on their healthcare and are more likely to use environmentally friendly products thanks to skin nourishment. Since plastic pollution is a significant concern with these products, consumers are more likely to use products without plastic beads, such as exfoliating skincare products. Businesses also focus on implementing improved manufacturing processes that consume less energy and resources to reduce their carbon footprint. There is also a sizable demand for new, recyclable or refillable product packaging that is environmentally friendly. Consumers' preference has also changed in favor of vegan ingredients, which are only made from plant-based products, as awareness of animal rights has increased. Technological Advancement in the Skincare Products Creates Tremendous Opportunities Numerous advantages of skincare products include their capacity to soften skin and revive cells, both of which support the appearance of youthful vitality. One such innovation and advancement in the beauty and personal care sector expected to increase product demand is the development of IoT-based devices that provide personalized skin nourishment solutions to individuals. Regional Analysis Asia-Pacific holds the largest revenue share. The development of the chemical industries in China and India, supported by regulatory frameworks, is expected to guarantee ongoing access to raw materials for companies that produce skincare products. Key Highlights The global skincare body products market was valued at USD 26.62 billion in 2021. It is projected to reach USD 47.92 billion by 2030, growing at a CAGR of 6.75% during the forecast period (2022–2030). Based on gender, the market is bifurcated into male and female. The female market held the largest revenue share and is anticipated to lead during the forecast. Based on product, the market is categorized into face creams and moisturizers, cleansers and face wash, sunscreen, body creams and moisturizers, shaving lotions and creams. Face creams and moisturizers held the most extensive revenue share and are anticipated to lead during the forecast period. Based on the distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, pharmacies and drugstores, and online. Supermarkets and hypermarkets hold the most significant market share. Asia-Pacific is the most predominant region in the global skincare body products market. Competitive Analysis The global skincare products market’s major key players are L'Oréal S.A. Beiersdorf AG Shiseido Co., Ltd. Procter & Gamble (P&G) Unilever Johnson & Johnson, Inc. Avon Products, Inc. Coty Inc. Colgate-Palmolive Company Revlon Market News May 2022- L'Oréal introduced UVMune 400, a breakthrough sun filtering technology that effectively protects the skin against insidious ultra-long uva rays. With UVMune 400, a new generation of filters powered by Mexoryl 400, with maximized performance and quality, L'Oréal took a giant leap in sun protection. May 2022- L'Oréal's corporate venture capital fund BOLD (Business Opportunities for L'Oréal Development) announced a minority investment in Japanese beauty startup SPARTY, Inc. This investment in SPARTY marks the first venture capital investment by L'Oréal in Japan. February 2022- Beiersdorf completed the acquisition of Chantecaille Beaute Inc., USA. Chantecaille's global operations will be part of the Beiersdorf Group. As part of the Consumer business, the company has continued to be managed separately as a complementary selective brand within the Beiersdorf Group. Global Skincare Body Products Market: Segmentation By Gender  Male Female By Product  Face Creams and Moisturizers Cleansers and Face Wash Sunscreen Body Creams and Moisturizers Shaving Lotions and Creams By Distribution Channel  Supermarkets and Hypermarkets Convenience Stores Pharmacy and drugstore Online By Regions North America Europe Asia-Pacific Central and South America Middle East and Africa