Cosmetic skin care market size to grow by USD 79.37 billion from 2022 to 2027 | APAC to contribute 51% of the market growth - Technavio

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Dec 11, 2023, 21:15 ET

NEW YORK, Dec. 11, 2023 /PRNewswire/ -- The cosmetic skin care market is forecasted to grow by USD 79.37 billion from 2022 to 2027. Moreover, the growth momentum will accelerate at a CAGR of 8.72% during the forecast period, according to Technavio. 51% of the market's growth will account from APAC during the forecast period. Several companies in this region offer cosmetic skincare, which has resulted in the potential growth of the market. Due to Asian women's preference for lighter skin tones, people in the region are increasingly choosing cosmetic skin care items like skin-lightening creams and skin-brightening lotion. With the use of eye-catching packaging and commercials that highlight the positive effects of their products, many businesses are focusing on promotional activities to draw in clients. Such factors are expected to boost the market growth. To know about the vendor offerings, request a sample report.

Technavio has announced its latest market research report titled Global Cosmetic Skin Care Market 2023-2027

Cosmetic skin care market 2023-2027: Company Anaysis

Amorepacific Group Inc., Beiersdorf AG, CHANEL Ltd., CLAMAR Cosmetics Inc., Colgate Palmolive Co., Gayatri Herbals Pvt. Ltd., Groupe Clarins, Johnson & Johnson, Kao Corp., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura & Co Holding SA, Nutriglow Cosmetics Pvt. Ltd., Oriflame Holding AG, Revlon Inc., Shiseido Co. Ltd., The Body Shop International Ltd., The Estee Lauder Co. Inc., The Procter and Gamble Co., and Unilever PLC are some of the major market participants.

Cosmetic skin care market 2023-2027: Segmentation highlights

The cosmetic skin care market share growth by the facial skincare products segment will be significant. Face skin care products are used to nourish, moisturize, and give the skin a smooth, spotless appearance. The aging of the population and improvements in the technology used to make face skin care products are key factors influencing the growth of the facial skin care products market. In order to boost the facial skin's natural regeneration process and enhance the complexion and appearance of the skin, a number of vendors in the global cosmetic skin care products market offer premium face skin care products. As a result, high-profile makeup artists and fashion-conscious consumers are anticipated to increase demand for cosmetic skin care products throughout the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, growth in market share, among others, Buy the Report.

Cosmetic skin care market 2023-2027: Drivers & challenges

The presence of premium brands will fuel the growth of the cosmetic skin care market. Wealthy customers are willing to conduct online research on luxury and premium brands to refresh and improve their understanding of skin care. As a result, these affluent customers are pushing premium skincare companies to improve their online presence and credibility in order to capture a bigger market. Premium brand growth is also fueled by internationalization due to the increasing number of foreign visitors visiting the US and purchasing products from them. During the projected period, these elements will fuel market growth.

However, stringent regulation is the major challenge likely to hamper the growth of the cosmetic skin care market during the forecast period. Government regulations and permits are required for cosmetic skin care products in order to prevent health issues. Cosmetic skin care product manufacturers are required to assure the safety of their products and carry out essential tests to check the quality of their ingredients and final products. As a result, rigorous laws governing the approval and marketing of cosmetic skin care products make their production labor-intensive and cause manufacturers' launches to be delayed, impeding market growth. Such factors will affect the market growth during the forecast period.

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Cosmetic skin care market 2023-2027: Segmentation analysis

Product Outlook (USD Billion, 2017 - 2027)

Face skincare products
Body skincare products
Others

Distribution Channel Outlook (USD Billion, 2017 - 2027)

Offline
Online

Region Outlook (USD Billion, 2017 - 2027)

North America

The U.S.
Canada

Europe

The U.K.
Germany
France
Rest of Europe

APAC

China
India

Middle East & Africa

Saudi Arabia
South Africa
Rest of the Middle East & Africa

South America

Chile
Brazil
Argentina

Cosmetic skin care market 2023-2027: Key highlights

What are the key data covered in this cosmetic skin care market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the cosmetic skin care market between 2023 and 2027
Precise estimation of the size of the cosmetic skin care market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the cosmetic skin care market across APAC, Europe, North America, Middle East and Africa, and South America.
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of cosmetic skin care market vendors

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TOC

Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution Channel
market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Company Landscape
Company Analysis
Appendix

About US

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SOURCE Technavio