Global Skin Care Products Market Report Size & Share at a CAGR of around 11.1% by 2028 Forecast By Zion Market Research
Zion Market Research
The global Skin Care Products Market is projected to reach US$ 1,719.1 million by 2028, an 11.1% CAGR between 2022 and 2028.
DEERFIELD BEACH, FLORIDA, UNITED STATES, September 2, 2022 /EINPresswire.com/ -- The Global Skin Care Products market is projected to grow at a CAGR of 11.1% during the forecast period. The global market generated a revenue of over US$ 914.1 million in 2021 and is projected to reach a market value of $1,719.1 million by 2028.
The study also provides a summary of many other significant areas, such as the financial performance of the key companies, a SWOT analysis, a product portfolio, and the most recent changes in strategic planning.
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Market Growth
The rise in the young population is the major factor that will drive the global skin care products market growth. Gen Z accounts for a major share of 39.1% of the total population. These consumers prefer brands that reflect their attitudes and values. Skin care products have experienced significant adoption among these consumers, as Gen Z is most easily influenced by online advertising.
Key Insights:
A) As per the analysis shared by our research analyst, the global skin care products market value to grow at a CAGR of 11.1% over the forecast period.
B) In terms of revenue, the global skin care products market size was valued at around USD 914.1 million in 2021 and is projected to reach USD 1,719.1 million by 2028.
C) By product type, the cream segment accounted for a major market share in 2021
D) By sales channel, the supermarket/hypermarket accounted for 29% market share in 2021
E) The Asia Pacific dominated the global skin care products market in 2021
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Opportunities
Consumers prefer organic skin care products as they do not contain any side effects and only natural ingredients. At the same time, synthetic products might contain certain chemicals which are not good for the skin. Many key players also focus on developing organic skin care products to gain a competitive advantage.
Regional Analysis
The Asia Pacific is the leading market in 2021 and accounts for a major share of global sales. South Korea holds the largest share of skin care product exports, with a major market share in the global market. Korean brands are consistently expanding in terms of the number of consumers, predominantly in the skin care products segments. Around 90% of the cosmetics products are imported from foreign brands in the Asia Pacific, such as Shiseido, Fendi, Esteé Lauder, Lancome, L'Oreal, and Clarins. Moreover, local cosmetics brands such as Lana, Thorakao, Biona, and Sao Thái Duonga are focusing on strengthening their position in the market.
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Recent Developments:
A) July 2022: Caudalie, a French beauty product brand, announced an investment in the Asia Pacific region to expand its market in the Asia Pacific.
B) July 2022: Azelis and Green Mountain Biotech signed a distribution agreement to strengthen their presence in Southeast Asian countries like Vietnam, Thailand, and Singapore.
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Some key players of the global Skin Care Products Market are:
L'Oréal Group
Procter & Gamble Company
Unilever PLC
Bejesdorf AG
Estee Lauder Companies Inc
and Shiseido Company Limited
Saigon Cosmetics Corporation
aMarico.
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This report segments the global Skin Care Products Market into:
Global Skin Care Products Market: By Product Type
Cream
Lotions
Others
Global Skin Care Products Market: By Demographic
Male
Female
Global Skin Care Products Market: By Age Group
Generation X
Millennial
Generation Z
Global Skin Care Products Market: By Sales Channel
Supermarket/Hypermarket
Specialty Stores
Department Stores
Beauty Stores
Pharma and Drug Stores
Online Sales Channel
Related Press Release:
Global Skin Care Products Market: Regional Analysis
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
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Rushikesh Dorge
Zion Market Research
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