Published by Jessica Weisman-Pitts
Posted on March 3, 2023
Rising consumer demand for self-care and personal hygiene products, as well as a desire for natural and healthy ingredients, are creating an appealing opportunity in the skincare sector. Concerns about the adverse effects of chemicals on the skin, such as irritation, skin allergies, and dullness, have increased the demand for herbal ingredients in skin care products.
NEWARK, Del: During the forecast period 2022 to 2032, the Skincare Market is expected to grow at a value of 8.1% CAGR, according to Future Market Insights. By the year 2032, the global market for skincare is expected to rise up to a market valuation of US$ 230.21 Bn.
Personalized things are becoming increasingly popular among Americans. Serums, creams, and moisturizers supplemented with natural components are projected to enjoy significant demand over the forecast period, owing to increased consumer preference for skincare products. Such products are thought to be more efficient and to have less or no negative side effects, which increases their appeal among clients.
Face creams and moisturizers are growing more popular throughout the world as people become more conscious of their physical appearance and concerned about skin disorders and skin cancer. Furthermore, as a growing number of clients opt for cruelty-free product lines due to their increased concern for animal protection and the environment, the demand for vegan or plant-based component combinations in these items has increased.
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Rising consumer demand for self-care and personal hygiene products, as well as a desire for natural and healthy ingredients, are creating an appealing opportunity in the skincare sector. Concerns about the adverse effects of chemicals on the skin, such as irritation, skin allergies, and dullness, have increased the demand for herbal ingredients in skin care products.
Due to its larger consumer base and robust consumption, the United States maintains the largest share of the North American market. As a result of the COVID-19 outbreak, an increasing number of Americans are investing in preventative measures such as skin cleansers and hand sanitizers. Consumers in the United States are willing to pay a higher price for a more youthful appearance, as well as brighter and healthier skin. Such increasing preferences will propel the overall skin care market growth during the projection period.
Key Takeaways from the Market Study
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“Globally increasing demand for sunscreens, face creams, and body lotions is likely to boost market growth over the predicted period. Furthermore, skin issues associated with post-Covid situations are expected to drive market expansion even further.” comments a Future Market Insights analyst.
Competitive Landscape
Market participants are focusing their efforts on strategic alliances, mergers and acquisitions, and corporate expansions to increase their market position.
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Key Players:
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global skincare market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product (skin cleansers, hand sanitizers, surgical scrubs, skin conditioners), form (liquid, gel & lotions, wipes, spray & foams), end-user (hospitals , clinics, ambulatory surgical centers, diagnostic laboratories, reference laboratories, rehabilitation centers, long term care centers, critical care centers, pharmaceutical & biotechnology companies, academics and research institutes, homecare settings) and regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Covered In The Skincare Market Report
Skincare Market By Product:
Skincare Market By Form:
Skincare Market By End-User:
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Table of Content
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3.1. Key Trends Impacting the Market
3.2. Development Trends
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