Skincare Body Products Market

Market Overview

The global skincare body products market size 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). Skincare products are used to improve and maintain the appearance of human skin. There are numerous products available on the market, including creams with retinol, alpha-hydroxy acids, and beta-hydroxy acids as primary ingredients, body lotions, oils and serums, and cleansers. These products support the regular replacement of aging skin cells and combat aging symptoms like wrinkles and age spots while keeping the skin's overall health. The global market for skin care products is very diverse because it varies from region to region and accommodates the various types of skin that exist worldwide.

Skincare includes procedures that protect skin integrity, enhance skin appearance, and address skin conditions. This area includes using emollients as necessary, eating a healthy diet, and limiting sun exposure. A rise in awareness of cutting-edge skin care products, an increase in demand for skin care products, new product innovation, high investments in emerging countries, and other factors are among the key factors influencing the global market for skin care products.

Market Dynamics

Global Skincare Body Products Market Drivers

Increasing Awareness of Personal Grooming

The demand for skin nourishment products has increased due to growing concerns about skin nourishment brought on by various factors, including the rise in acne, black spots, scars, dullness, and tanning. The younger population needs skin-brightening products, toners, and scrubs, while the older population increasingly needs wrinkle-relieving products and products that treat cracked heels. It is anticipated that shifting consumer spending habits and lifestyles will support the market's expansion. Additionally, the growing popularity of men's grooming products, aggressive marketing campaigns by manufacturers, and the trend toward digitization have raised consumer awareness of skin care products.

Increasing Demand for Sustainable Products

With skin nourishment products, consumers are now focusing on their healthcare and are inclined to use environmentally friendly products. Customers are more likely to use products without plastic beads, such as exfoliating skincare products since plastic pollution is a significant concern with these products. Initiatives are being taken by businesses like BioPowder to create biodegradable microbeads that will be used in exfoliating products without creating any waste. Businesses are concentrating on lowering their carbon footprint by implementing improved manufacturing techniques that use little energy and resources. Additionally, there is a significant demand for new, environmentally friendly product packaging that is recyclable or refillable. Due to growing awareness of animal rights, consumer preference has changed toward vegan ingredients solely derived from plant-based products. As a result, market participants are concentrating on creating vegan products to attract more customers and boost their profits.

Global Skincare Body Products Market Restraint

Excessive Use and Misuse Can Cause Cell Damage

Frequent use of cosmetics can damage the skin, leading to rashes, discoloration, burning, and accelerated skin cell aging. Only certain skin types should use specific skin nourishment products, such as those designed for dry or oily skin. However, consumers frequently ignore other product details in favor of the brand name when making purchases, which harms their skin. Few products can also cause allergic reactions and the emergence of pimples because they contain inappropriate ingredients for the specific user. Additionally, heavy use can cause severe problems like skin cancer and melanoma.

Global Skincare Body Products Market Opportunities

Technological Advancement

Using skincare products can soften the skin and revitalize cells, which helps the skin look younger. The development of IoT-based devices that provide personalized skin nourishment solutions to individuals is one such innovation and advancement in the beauty and personal care sector that is expected to increase product demand.

Regional Analysis

The global skincare body products market is segmented into five regions, namely North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.

Asia-Pacific is the most predominant region in the global skincare body products market. It is anticipated that the development of the chemical industries in China and India, supported by regulatory frameworks, will guarantee ongoing access to raw materials for companies that produce skincare products. Regarding consumption and production, China is one of the critical nations assisting the global market expansion for cosmetics and skin care products. Several government policies are also boosting the demand for skin care products nationwide.

Segmental Analysis

The global skincare body products market is segmented by gender, product, and distribution channel.

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. Women are incorporating more personal grooming products into their daily routines to improve their appearance and self-confidence, which has significantly accelerated the segment's growth. In addition, women have been designing relaxing self-care experiences through elaborate skincare routines at home. This trend fuels the demand for skincare products, such as creams and lotions, repair creams, peels, and scrubs, that contain active ingredients with nourishing and healing properties.

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. Due to their frequent application, face creams and moisturizers are among the most popular products. With immediate hydration, fewer breakouts, and refreshed skin, moisturizers are easy, hassle-free, and quick to treat dry skin. Furthermore, as more consumers choose cruelty-free skincare products out of concern for animal welfare and the environment, the market for vegan products and products made primarily of plant-based ingredients has increased. This offers the face creams and moisturizers segment promising opportunities for future growth.

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. Supermarkets and hypermarkets are great places to buy skin care products for all different types of customers because they provide significant benefits to customers like freedom of choice, lower prices, and high visibility of international brands.

Recent Developments

• 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.