Cosmetic Skin Care Market Scope
Cosmetic skin care products are intended to moisturize, soften, hydrate the skin, reduce the odor, and remove makeup, dirt, oil, & dead skin cells. Rising awareness about natural ingredients used in skin care products are fueling the growth of the market but, rising awareness for natural treatment product is likely limiting the growth of the market. Additionally, increasing geriatric population, as well as the disposable income of the emerging economies, is creating high demand for anti-aging skin care products. It has been observed that global warming is responsible for growing sun protection and UV rays protection cream. Moreover, packing and labeling of the product plays an important role to create strength in the market.
According to AMA, the Global Cosmetic Skin Care market is expected to see growth rate of 6.1% and may see market size of USD209.89 Million by 2026.
The Vendors having a strong hold in the market are L'Oréa S.A., Unilever Beiersdorf Inc., Johnson and Johnson, The Colgate-Palmolive Company. Research Analyst at AMA estimates that United States and European Vendors will contribute to the maximum growth of Global Cosmetic Skin Care market throughout the predicted period.
L'Oréa S.A. (France), Unilever (United Kingdom), Beiersdorf Inc. (Germany), The Colgate-Palmolive Company (United States), The Estée Lauder Companies, Inc. (United States), Johnson and Johnson (United States), Avon Products, Inc. (United Kingdom), Shiseido Co., Ltd. (Japan), The Procter & Gamble Company (United States) and Lumene (Finland) 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), Elizabeth Arden Inc (Switzerland), Chanel Sa (France), Moet Hennessy Louis Vuitton (France) and Clarins (France).
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 Cosmetic Skin Care market by Type (Face Cream, Body Lotion, Foot Powders and Sprays, Soaps and Tablets) and Region with country level break-up.
On the basis of geography, the market of Cosmetic Skin Care 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 March 2019, Unilever had acquired Garancia; is French derma-cosmetic brand that currently offers a range of 38 premium facial and body skincare products. The acquisition has been added many skin care products in Unilever’s product portfolio that is ultimately supplementing growth of the company.
There are many different laws and regulation corresponding to geographical areas. For instance, in the United States, soap should contain oil, fats and an alkali only. If any manufacturer adds any hazardous or undefined ingredient then the manufacturer doesn’t get approval for marketing and advertising according to Federal Hazardous Substances Ac. In addition to it, (EC) No. 1223/2009 is a regulation in Europe under the EU Commission for cosmetic products.
Market Trend
- Growing Disposable Income in Emerging Economies Results in Demand for Advanced Skin Care Product
Market Drivers
- Rising Skin Care Awareness across the world
- High Standard of Living and Changing LifeStyle
- Continuous Attractive Promotional Activities by Manufacturers
Opportunities
- New Innovation and Continuously Ongoing Research and Development Activities for Skin Care Product
Restraints
- Increasing Adoption of Natural Skin Care Treatment
Challenges
- Very Less Shelf Life of Skin Care Products
- High Cost of Cosmetic Skin Care Products
Key Target Audience
Cosmetic Product Manufacturers, Cosmetic Industry, Industry Association, Potential Investors, Traders/Distributors and Suppliers of Cosmetic Products, Government and Regulatory Bodies and Research Institute and Organization