Skincare Market Analysis, Segmentation, Key Players, Opportunities And Forecast 2032
The global Skincare Market is expected to grow significantly at an 8.1% CAGR between 2022 and 2032. By 2022, the market is expected to grow to a global market worth US$ 131 billion. The global skincare industry is expected to reach US$ 230.21 billion by 2032, owing to rising demand and growth.
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 fewer or
no negative side effects, which increases their appeal among clients.
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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.
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
- In 2022, the global skincare market is estimated to
have a global market size of US$ 131 Bn.
- In 2022, the hand sanitizers category by product type
is expected to occupy a 65% market share.
- By form type, the liquid segment is projected to hold a
global market share of 36% in 2022.
- The US skincare market is expected to gain a global
market share of 71% in 2022.
- The Chinese region is expected to grow rapidly with a
CAGR of 7.4% during 2022-2032.
- During the forecast period, the UK market for skincare
will exhibit a 7% CAGR.
“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.
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Competitive Landscape
Market participants are focusing
their efforts on strategic alliances, mergers and acquisitions, and corporate
expansions to increase their market position.
- To expedite innovations in healthcare and infection
control, PDI inaugurated its New Global Headquarters in Bergen County, New
Jersey, in 2021. The objective was to create a new multi-functional
platform to aid in continued advancements in infection prevention.
- Shiseido Co., Ltd. has announced the release of
ULTIMUNE Power Infusing Concentrate III in Japan in 2021, a refresh of the
renowned serum ULTIMUNE Power Infusing Concentrate N. The product will be
available in around 380 locations nationwide as well as on its beauty
website watashi+.
- Beiersdorf AG's NX NIVEA Accelerator will expand into
China in 2021, choosing the top five firms for a new programme in
Shanghai. The firm has signed a partnership agreement with Tmall, China's
largest e-commerce platform, and wants to work with beauty startups on
indie brands, beauty technology, personalization, and platform marketing
techniques with a high degree of digitalisation.
Key Players:
- 3M Company
- Cardinal Health, Inc.
- Ecolab
- Gojo Industries, Inc.,
- Beiersdorf AG's NX NIVEA
- Whiteley Corporation
- Reckitt Benckiser Group PLC
- Carroll Clean
- Johnson & Johnson Consumer Inc.
- Galderma laboratories, L.P.
- PDI, Inc.
- Betco Corporation
- Pal International
- PSK Pharma Pvt. Ltd.
- Metrex Research, LLC.
- Gojo Industries, Inc.
- Unilever
- Steris Plc.
- Procter & Gamble
Key Segments Covered In The Skincare
Market Report
Skincare Market By Product:
- Skin Cleansers
- Hand Sanitizers
- Surgical Scrubs
- Skin Conditioners
- Other
Skincare Market By Form:
- Liquid Skincare
- Gel & Lotions
- Wipes
- Spray & Foams
Skincare Market By End-User:
- Skincare for Hospitals
- Skincare for Clinics
- Skincare for Ambulatory Surgical Centers
- Skincare for Diagnostic Laboratories
- Skincare for Reference Laboratories
- Skincare for Rehabilitation Centers
- Skincare for Long Term Care Centers
- Skincare for Critical Care Centers
- Skincare for Pharmaceutical & Biotechnology
Companies
- Skincare for Academics and Research Institutes
- Skincare for Homecare Settings
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