Transparency Market Research has published a new research report on the global skin care products market. As per the report, the global Skin Care Products Market is expected to expand during the period between 2015 and 2021 due to developments in its segments. states that the Asia Pacific region dominated the global skin care products market in 2014, being valued at close to US$44.1 bn. With a growing number of skin care products being introduced by the leading market players, Asia Pacific is expected to maintain its dominant position during the forecast period.
Increasing beauty consciousness among the consumers across all age groups is one of the major factors driving the demand for skin care products globally. The skin care products also cater to other skin problems including wrinkles, black patches and uneven skin tone among others. In addition, increasing demand for body massage oils and creams is also boosting the demand for skin care products globally. The skin care market by product segment has been segmented into: face cream and body lotion. The face cream segment has been further segmented into: skin brightening cream, anti-aging cream and sun protection cream. The body lotion segment has been segmented into: mass market body care lotion and premium body care lotion.
The face cream segment held the largest market share in skin care market globally and is expected to remain the market leader throughout the forecast period. The face cream segment is expected to grow at a CAGR of 4.8% between 2015 and 2021. The anti aging cream segment held the largest market share in the face cream segment. The anti aging cream segment is expected to reach USD 36.11 billion by 2021. However, the sun protection cream segment is expected to be the fastest growing segment, growing at a CAGR of 5.1% between 2015 and 2021. Increasing demand protection against ultra violet rays is one of the major factors boosting the demand in this segment.
Mass market body care lotion held the largest market share in the body lotion segment and is expected to remain the market leader throughout the forecast period. The premium body care lotion is the fastest growing segment, growing at a CAGR of 5.4% from 2015 to 2021.
By geography the skin care market has been segmented into: North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America has been further segmented into U.S. and rest of North America. U.K., France, Germany, Italy are some of the major countries covered under the scope of Europe. Asia Pacific is further segmented into: India, China, Japan and rest of Asia Pacific. Saudi Arabia and South Africa are some of the major countries covered under Middle East and Africa region. Latin America is further segmented into: Brazil, Argentina and rest of Latin America.
Asia Pacific held the largest market share in the skin care market globally and is expected to remain the market leader throughout the forecast period. The Asia Pacific skin care market was valued at USD 44.08 billion in 2014. India, China and Japan are some of the major countries fueling the demand for skin care products in Asia Pacific. China skin care market is expected to reach USD 6.31 billion by 2021. Aging population and large customer base are the major factors fueling the demand for skin care products in China. India is the fastest growing market for skin care products in Asia Pacific expected to grow at a CAGR of 5.1% from 2015 to 2021.
Key Segments of Global Skin Care Products Market
Global Skin Care Market: By Product Segment
- Face cream
- Skin brightening cream
- Anti-aging cream
- Sun protection cream
- Body lotion
- Mass market body care lotion
- Premium body care lotion
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