Skin Care Products Market to expand at a CAGR of 4.90% by 2021

Posted by Vikas Bahurupi on June 26th, 2018

The Research study on the global skin care products market planned by  our Seasoned Researches fetches  a scheduled analysis of the market, including forecast census as well as historical data about the market. The study further talks about the demand and supply approach, products in the market, major segments, manufacturing capacities of major players and regions, recent developments, and competitive landscape of the global market for skin care products. The research report further talks about the market drivers, hurdles, opportunities and challenges faced by the major players in the global market.

Skin care products are used for beautifying or to address some other skin care problems. The cosmetic industry is thriving and skin care forms a very huge part of this industry. The aesthetic appearance is so vital that people spend a lot on skin care products and treatment. People being more technologically aware of the various new skin care products trending in the market. In addition to the aesthetic application, the medical skin care products are also used to address issues such as acne, pimples or scars. In Addition to this, in recent years the online retail industry has been gaining traction, giving a strong boost to the skin care products market.

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Global Skin Care Market : Overview

The increasing demand from the population for beautification is one of the major factors expected to fuel the growth of the global skin care products market in the near future. In addition, the rising interest in grooming, brightening of skin, and the increasing disposable income among the population in emerging economies are the other factors driving the overall market. In 2014, the global skin care products market was worth US0.7 bn and is will foresee to reach a value of US5.4 bn by the end of 2021. The market is proposed to establish a Robust CAGR of 4.90% between 2015 and 2021.

The global skin care products market has been customarilydivided into body lotions and face creams. The body lotion segment is further divided into premium body care lotions and mass market body care lotions, whereas the face cream segment has been divided into sun protection cream, skin brightening cream, and anti-aging cream. Among these, the anti-aging face cream segment holds the largest share in the global market, followed by skin brightening face creams. Among body lotions, the mass market body care lotion segment holds the largest share in the overall body lotions market.

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The global skin care products market has been divided on the basis of geography into Asia Pacific, North America, Europe, and Rest of the World. Presently, the Asia Pacific market grips the largest share in the global market and is forseen to remain in the dominating position in the next few years. The brisk growth of this region can be associated to the growing demand in the evolving markets of China and Japan.