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Growth of online platforms such as Amazon and Walmart have helped in propelling the growth of the Moisturizers Market
Published : 3 years ago, on
A few of the key players operating in the global moisturizers market are Amorepacific Corporation, Beiersdorf AG, Coty Inc., ELCA Cosmetics Pvt. Ltd., Henkel AG & Co. KGaA. Johnson & Johnson Services, Inc., Kao Corporation, L’Oréal Group, New Avon Company, Procter & Gamble, Shiseido Co., Ltd., and Unilever plc
- Moisturizers help in treating dry skin and prevents it from drying out. Moisturizers hold water in the stratum corneum which is the outermost layer of the skin. Apart from preventing skin from drying out, moisturizers also help in protecting the skin by creating a barrier that keeps oil from escaping and harmful outside elements from causing dryness or irritation.
- Numerous types of moisturizers are available in the market as per different skin types such as dry, oily, and sensitive skin. People with normal skin require a light moisturizer that contains natural oils, whereas people with dry skin require heavier lotions with humectants to lock in moisture. For oily skin, oil-free, non-comedogenic moisturizers, which do not clog the pores are required. People with sensitive skin look for moisturizers that are fragrance-free.
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Rising Demand for Skincare Products: A Key Driver
- Increasing awareness about the benefits of healthy skin due to rising skin concerns has resulted in consistent rise in demand for a variety of skin care products. Demand for anti-aging products, and sun screen lotions and creams as moisturizers have seen exponential growth in the last couple of years, with rising aging population globally and extreme weather conditions.
- Additionally, rise in demand for male grooming products, especially facial care products is one of the key factors driving the growth of the global moisturizers market. Younger population aged above 15 years is becoming more proactive in the facial skin care category. Increasing awareness regarding the benefits of grooming among men has also led to the growth of the moisturizers market.
- Growth of online platforms such as Amazon and Walmart and various other social media sites such as Facebook and Instagram have helped in propelling the growth of the moisturizers market. Growing number of beauty vloggers on YouTube, sharing product reviews as well as Instagram posts by celebrity stars influence users to opt for such products. This, in turn, has resulted in growth of the moisturizers market.
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Availability of Oil Based Substitutes: A Key Restraint
- Moisturizers face stiff competition from various natural oil- based substitutes such as coconut oil, almond oil, aloe vera gel, and cocoa butter. This is likely to hinder the market during the forecast period. Oil based substitutes prove to be the best alternatives for the mass market. Additionally, these products are less expensive and are readily available in the market. This is anticipated to restrain the growth of the moisturizers market. However, rising awareness about the use of natural or organic products among millennials is anticipated to create new opportunities for organic based moisturizers. Additionally, manufacturers are moving toward green and organic products in order to tap a major chunk of population who favor such products.
Asia Pacific a Potential Market for Moisturizers
- The global moisturizers market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Moisturizers market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The Moisturizers market in South America has been segmented into Brazil and Rest of South America.
- Asia Pacific is expected to remain a potential market for moisturizers during the forecast period. This is due to growing economies in China, India, and many other Southeast Asian countries which has resulted in improved living standards. Increasing disposable income coupled with increasing awareness among all age groups about better skin care is likely to fuel the market in the region during the forecast period.
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Key Players Operating in the Global Moisturizers Market
The global moisturizers market is widely fragmented in nature, due to presence of several regional and global players. Key players adopt new product development, acquisitions, mergers, and agreements as their key development strategy to remain competitive and enhance their customer base in the market.
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