Skin Care Products Market: Rapidly Evolving Industry…… COVID-19….Posted by Mrudula Anil Karmarkar on February 2nd, 2022 The global skin care products market size is projected to reach USD 183.03 billion by 2025 expanding at a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Increasing demand for natural, herbal, and organic products that have no adverse effects is expected to boost the market growth over the forecast period. Skin care products include various synthetic and natural products, such as body lotions and face creams. Rising concerns regarding skin problems are also driving the skin care products industry. The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the Covid 19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift towards safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Brands are also focusing on improving their supply lines in terms of strengthening their E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. Rising awareness about natural ingredients providing UV protection is also expected to fuel the market growth. With the rising geriatric population, demand for products with anti-aging properties is expected grow, thereby driving the overall market. Organic skin care product manufacturers focus more on the development of newer formulations targeted at fighting the effects of skin aging. Rising awareness about skin care has led to the inclusion of sun protection, anti-aging, and anti-wrinkle properties in skin care and makeup products. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/skin-care-products-market/request/rs1 Although, increased concerns regarding authenticity of products has been encouraging emerging manufacturers to enter the market; intense competition may pose a serious challenge to the market growth. High costs of organic and natural skin care products are also expected to hamper market growth over the next few years. However, increasing demand for organic body lotion products, especially in countries like Canada, India, and Mexico, on account of rising consumer awareness regarding benefits of natural ingredients like turmeric and neem is expected to have a positive impact on the market. Further key findings from the study suggest:
There is a wide variety of products available on the market including sunscreens, anti-aging creams, body lotions, and skin brightening creams. Rising awareness regarding the various benefits of using personal care products has resulted in a rise in their demand over the last few years. This has also boosted the demand for natural and organic skincare products, making it a major sector in the cosmetics and wellness industry. Organic products are derived from natural resources and are free from harmful chemicals. Growing awareness regarding the adverse effects of synthetic counterparts has contributed to an increase in the demand for these products. The market is highly competitive with large multinational companies dominating it. However, over the past few years, numerous smaller companies have gained share in this market on account of increasing consumer interest in natural beauty products, particularly in Europe and North America. Some of the key manufacturers in the global industry include L\'Oréal S.A.; Unilever; Beiersdorf AG; Johnson and Johnson; Avon Products, Inc.; Shiseido Company, Ltd.; Revlon, Inc.; The Estée Lauder Companies, Inc.; Colgate-Palmolive Company; and Procter & Gamble Company. Grand View Research has segmented the global skin care products market on the basis of product. Skin Care Product Outlook (Revenue, USD Billion, 2014 - 2025)
o Skin Brightening Cream o Anti-aging Cream o Sun Protection Cream
o Mass Market Body Care Lotion o Premium Body Care Lotion
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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