Global Skin Care Products Market Rises at 4.9% CAGR 2015-2021 due to High Demand for Anti-aging Products

Transparency Market Research has recently published a new research report, titled “Skin Care Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021”. The extensive research report states that rising awareness about healthy and glowing skin is driving the global skin care products market. According to the report, the global skin care products market was valued at valued at US$110.69 bn in 2014 and is expected to reach US$155.44 bn by 2021, surging at a CAGR of 4.9% between 2015 and 2021.

Cosmetics, especially those designed to enhance or improve the quality of the skin, are referred to as skin care products. These products are especially formulated to clean, refresh, and hydrate the skin to counter the effect of daily pollutants and other lifestyle-related issues. The range of skin care products available on the market also includes treatments for aging, acne, and rosacea. Furthermore, several players are also focusing on marketing products that are specifically meant for the lips, eyes, and neck.

The global skin care market is segmented on the basis of product and region. The products available in this market are face creams and body lotions. The face creams are further segmented into skin brightening cream, anti-aging cream, and sun-protection cream. The body lotions sold in this market are mass market body care lotions and premium body care lotions. Geographically, this market is segmented into North America, Asia Pacific, Europe, and Rest of the World.

The skin care products market is expected to do exceptionally well in Europe and North America due to the growing usage of organic personal care products and a huge demand for anti-aging cosmetics. Additionally, an increasing demand for skin-glowing products amongst mid- and low-income groups is also expected to augment the overall market, especially so in Asia Pacific. The global skin care products market is also benefitting from the rising interest in grooming in regions of Africa and Middle East. On the other hand, the need for sun protection and skin hydration is driving the skin care products market in Latin America.

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Research analysts stated that the Middle East and Africa skin care products market will rise at a CAGR of 8.6% between 2015 and 2021. The South Africa region will grow at an incredible pace due to the rise of the working class, increasing disposable incomes, and growing consumer awareness about skin care. Asia Pacific, which previously held a significant share in the overall market is expected to retain its dominance. The demand for skin care products in Asia Pacific will be driven by Japan and China.

Some of the Important Players in the global skin care products market are L'Oréal S.A., Kao Corporation, The Estee Lauder Companies Inc., Procter & Gamble, Beiersdorf AG, Unilever PLC, Colgate-Palmolive Company, Avon Products Inc., Shiseido Company, Limited, and Johnson & Johnson. The research report provides a thorough analysis of the competitive landscape of the global skin care products market and the recent technological developments therein. Furthermore, it also explains the research and development strategies, branding ideas, advertising strategies, and financial outlook of these top players for the coming few years.

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