The prevalence of skin-related diseases has increased the demand for skin care products. L’Oréal Dermatology Beauty presented the results of a comprehensive global skin health study conducted by La Roche-Posay at the World Dermatology Congress in Singapore in July 2023.
NEW YORK, Aug. 25, 2023 (Globe Newswire) — Reportlinker.com Releases Report “Skin Care Products Market by Product, Ingredient, Packaging, Gender, Category and Distribution Channel – Global” announced. Opportunity Analysis and Industry Forecasts, 2023-2030” – https://www.reportlinker.com/p06486778/?utm_source=GNW
This extensive study spanned 34 countries and found that half of the participants experienced self-reported pigmentary disorders, including conditions such as vitiligo, post-inflammatory hyperpigmentation and melasma. They found that nearly one-third of her individuals reported that these symptoms had a significant impact on their quality of life. In addition, the study also noted that 44% of people affected by PD take steps to hide the visible areas of affected skin. At the same time, the prevalence of various skin conditions has increased significantly, prompting consumers to turn to skin care products that address specific concerns and provide therapeutic benefits.
However, certain skin care products have a limited shelf life, creating challenges regarding product longevity and consumer investment. This factor may hamper the growth potential of the overall skin care product market as consumers are reluctant to invest in short-lived products.
Meanwhile, advances in technologies such as artificial intelligence and data analytics are making personalized skin care solutions tailored to an individual’s unique skin type, concerns and genetic makeup more feasible than ever before. Businesses can offer customized products and regimens to increase customer satisfaction and loyalty.
The global skin care products market share is segmented on the basis of product, ingredient, packaging material, gender, category, distribution channel and region.
– By product, the market is segmented into face care, body care, and baby care.
– By ingredients, the market is segmented into chemical and organic substances.
– By packaging material, the market is segmented into plastic, glass, metal, and others.
– By gender, the market is split between men and women.
-By category, the market is divided into affordable skincare and premium skincare.
– By distribution channel, the market is segmented into convenience stores, specialty retailers, hypermarkets/supermarkets, online channels, and pharmacies/drug stores.
– Geographically, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Asia-Pacific is expected to hold a dominant share of the market
Asia Pacific is a key market for the personal care and beauty industry. The region holds the largest share of the skin care products industry, accounting for 43% of the global market share. The driving force behind the region’s thriving skincare product industry is the growing awareness of appearance, especially among millennials and the urban population. This trend is not limited to gender, especially as the skincare product trend is seeing a surge in demand from men. This reflects the rise of genderless his skincare his solutions as a general trend.
Additionally, key players within the market continue to lead through constant research and development activities, investments, and innovative product offerings aimed at serving a broad range of consumer segments. For example, Shiseido’s commitment to invest approximately $140 million to strengthen its innovation capabilities in China is testament to this pursuit. Shiseido underscores its commitment to sustainability by introducing over 150 refillable products and establishing an innovation fund to support circular economy initiatives. The company’s continued investment in research and development centers further underscores the company’s commitment to driving innovation in skincare.
In addition, many startups have obtained certification to establish their presence in the global skin care product market. For example, in July 2023, Melixir, a pioneering vegan and microbiome-friendly skincare label in South Korea, announced that it had achieved B-Corporation™ certification. This achievement puts Merixir on par with prominent companies recognized for their outstanding contributions to society and the environment. Melixar’s unwavering commitment to sustainability, especially through its “me:cycle” recycling initiative, was crucial in achieving this prestigious certification. As a result, these factors and the evolution of demographics have converged to drive the growth of the skin care products market in the Asia-Pacific region.
major market players
The major companies operating in the Skin Care Products industry are:
• Procter & Gamble
• Unilever PLC
• Nature & Company
• Beiersdorf AG
• The Estée Lauder Companies, Inc.
• Johnson & Johnson
• Abbott Laboratories
• Colgate-Palmolive Company
• Shiseido Ltd.
・Coty Co., Ltd.
• As a company
Beiersdorf strengthens its commitment to skin care innovation and manufacturing with the opening of a new cosmetics production plant in Leipzig. This state-of-the-art facility represents an important step in Beiersdorf’s expansion strategy and advances the company’s ability to offer high-quality skin care products to consumers around the world.
Colgate-Palmolive’s latest venture introduces a revolutionary anti-aging serum backed by insights from National Aeronautics and Space Administration research. Inspired by advanced space science, the brand aims to revolutionize skincare with cutting-edge serums designed to combat the challenges of aging and promote glowing skin.
Avon has partnered with Perfect Corporation to launch a virtual try-on online shopping experience in nine initial markets, including the UK. Customers can instantly try your product using their smartphone camera or desktop webcam. It’s powered by Perfect Corp.’s AI and augmented reality try-on technology to deliver highly realistic results.
The Estée Lauder Companies has signed an agreement to acquire the Tom Ford brand, a global leader in luxury goods. This landmark agreement makes long-time partner ELC the owner of the Tom Ford brand and its intellectual property. This strategic acquisition strengthens the company’s long-term momentum in the lucrative luxury beauty market and reaffirms the company’s commitment to becoming a genuine top player in the global luxury beauty market.
Unilever subsidiary Murad has launched a line of skin care supplements to combat acne and aging. These products contain vegan and clinically proven gel capsules for health, rejuvenation, and bright, even, clear skin.
Johnson & Johnson launches Kenvue, an independent global consumer health brand. It symbolizes the fusion of knowledge and visual perspective. Kenvue’s purpose of “delivering the extraordinary power of everyday care” aligns with skincare brands such as Aveeno and Neutrogena. This underscores our commitment to enhancing skin care products worldwide.
• The Skin Care Products Market Report provides quantitative analysis of the current market and forecasts from 2023-2030. This analysis helps identify common market opportunities to take advantage of.
• The study consists of an in-depth analysis of skincare product market trends, including current and future trends to delineate the investment pockets prevalent in the market.
• Information on key drivers, constraints, opportunities and their impact on the skin care products market is provided in the report.
• A competitive analysis of the market players along with the market share of the market players in the skin care products market is presented in the report.
• The study details SWOT analysis and Porter’s Five Forces model.
• Value chain analysis in market research articulates stakeholder roles.
Read the full report: https://www.reportlinker.com/p06486778/?utm_source=GNW
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