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. The report, titled ‘Skin Care Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021’, 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.
The global skin care products market is segmented on the basis of geography and product. The global skin care products market, by geography, is divided into Asia Pacific, the Middle East and Africa, Latin America, Europe, and North America. In Asia Pacific, the China skin care products market is predicted to reach US$6.3 bn by 2021, whereas the India market is predicted to expand at a 5.10% CAGR in the period between 2015 and 2021. The Middle East and Africa regional segment is predicted to rise at an 8.60% CAGR till 2021.
Increasing awareness among people to use better skincare products is predicted to propel the global skin care products market in the coming few years. Skin care products help cater to various skin problems such as wrinkles, uneven skin tone, black patches, and others. Increasing demand for body creams and massage oils is predicted to further boost the global skin care products market. Based on product type, the global skin care products market is classified into face creams and body lotions. Skin brightening creams, anti-aging creams, and sun protection creams are the sub-segments of the face cream segment.
The body lotions segment is further divided into mass market body care lotions and premium body care lotions. The face cream segment is predicted to grow at a 4.80% CAGR during the period from 2015 to 2021. The anti-aging cream segment is expected to reach US$36.1 bn by 2021. The sun protection cream segment is forecast to expand at a 5.10% CAGR during the period from 2015 to 2021. The premium body lotion segment is predicted to expand at a 5.40% CAGR during the period from 2015 to 2021.
Skin care products primarily reach the end users through various distribution channels such as supermarkets, hypermarkets, departmental stores, online stores, drug stores, and beauty product stores. Some of the leading players in the global skin care products market are Avon Products Inc., Unilever PLC, L’Oreal S.A., and Beiersdorf AG. Consumers from across the globe are showing interest in using different skin care products to fulfill their desire of having a healthy skin. The use of face creams and anti-aging creams is also increasing rapidly due to the booming geriatric population, thus propelling the global skin care products market. At present, most of the key manufacturers of skin care products are focusing on broadening their distribution channels to improve market penetration in the years to come.
Skin care products reach the end users through various distribution channels such as hypermarkets and supermarkets, beauty products retailers, department stores, drug store pharmacies and online stores. Currently, manufacturers are focusing on widening the distribution channels in order to improve market penetration.
The report also provides the company market share analysis of key players operating in the skin care market. The key players operating in global skin care market are Avon Products Inc., L’Oreal S.A., Beiersdorf AG, and Unilever PLC among others.
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