Premium Skin Care Products Market Scope
Premium skincare products are intended to soften, moisturize, hydrate skin, and remove makeup, dirt, oil, & dead skin cells. Skincare products market has high growth prospects owing to the increasing working women population and improved spending capacity by them. Also, increasing demand for natural and organic skincare products is generating lucrative opportunities and propelling players to innovate new products according to the changing customer preference. Some of the major players in the premium skincare market are SkinCeuticals, SkinMedica Inc., Obagi, L’Oréal S.A., Avène, Unilever, and others. The premium skincare market is expected to witness augmenting demand for facial toners, serums, face masks, and other products owing to variable climatic conditions, and skin aging thereby contributing towards revenue growth.
The global premium skincare products market is highly fragmented owing to the number of players present in the market. Market leaders are focusing on product innovation owing to increasing demand for natural ingredients in skincare products. Such niche level up-gradation is expected to maintain demand for skincare products, thereby ensuring long-standing of the industry. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Premium Skin Care Products market throughout the predicted period.
SkinCeuticals (United States), SkinMedica Inc. (United States), Obagi (United States), Avène (France), EMINENCE ORGANIC SKIN CARE (United States), Colgate-Palmolive (United States), Premium cosmetics (United Kingdom), Drunk Elephant (United States), L’Oréal S.A. (France), Coty (United States), Unilever (United Kingdom), Beiersdorf Inc. (Germany), The Estée Lauder Companies, Inc. (United States), Johnson and Johnson (United States), Avon Products, Inc. (United Kingdom) and The Procter & Gamble Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Revlon, Inc. (United States), Moet Hennessy Louis Vuitton (France), Lumene (Finland), Elizabeth Arden Inc. (Switzerland), Chanel SA (France), MyGlamm (India), Clarins (France) and Shiseido Co., Ltd. (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Premium Skin Care Products market by Type (Moisturizers, Facial Treatments, Face Masks, Cleansers, Eye Creams, Lip Care and Facial Toners & Serums), by Application (Anti-Aging, Blackheads, Dark Circles and Loss of Firmness) and Region with country level break-up.
On the basis of geography, the market of Premium Skin Care Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In Jun 2021, Unilever announced the acquisition of a leading digital-led skincare brand known as Paula's Choice from TA Associates. Through this acquisition, Unilever enhances its product portfolio in the premium skincare segment.
In Jun 2021, Cellular Goods company announced the aunch of the skin care formulated. It is a consumer products company, first time they are launching complete collection of premium skin care products.
Market Trend
- Attractive Promotional and Marketing Strategies with Celebrity Endorsements
- Product Innovation According To Customer Preferences
Market Drivers
- Growing Need for Skin Care Products Owing To Changing Climatic Conditions
- Increasing Demand from the Working Women Population
- Changing Lifestyle Standard Fueled By Rise in Disposable Income
Opportunities
- Increasing Online Sales Channel for Premium Skin Care Products
- Growing Demand for Organic and Natural Skin Care Products
- Rising Demand from the Developing Economies
Restraints
- High Cost of Premium Skin Care Products
- Side Effects of Chemical Based Cosmetics
- Less Shelf Life of the Skin Care Products
Challenges
- Advanced Medical Beauty Treatments
- Easy Availability of Forged Products
- High Competition by Low Priced Alternatives
Key Target Audience
Premium Skin Care Products Manufactures, Premium Skin Care Products Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others