Dallas/ Texas, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Growing demand for organic skincare products, an increase in the consumption of anti-aging products, and consumer awareness of the health benefits of skincare products, such as better skin and protection from pollution, are all contributing factors to the global Skincare Service Market growth. The category of creams and lotions is anticipated to grow at the fastest CAGR throughout the course of the projection period due to rising consumer demand for high-quality products.
Market overview and forecast
Face moisturizers and creams are becoming increasingly popular on a global scale as individuals become more sensitive to their physical appearance and more worried about skin conditions and skin cancer. Due to consumers' growing concern for animal welfare and the environment, the market for skincare products and services that are vegan or predominantly composed of plant-based ingredients is also growing.
At a projected CAGR of 4.3% during the projection period, the global skincare services market is expected to increase from $101.19 billion in 2021 to $187.9 billion in 2029.
Additionally, a significant element in the market's expansion is the growing popularity of men's skincare products made with sustainable components. As demand for organic components rises, well-known firms in the sector are putting more and more emphasis on green formulas. For instance, the Brickell Men's Product and Organic OM4 create, produce, and sell a wide range of organic and natural skincare and other grooming products for men.
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Scope of the report
| Report Attribute | Details |
| Market Value in 2021 | $101.19 billion |
| CAGR for 2029 | 4.3% |
| Forecast period | 2022 to 2029 |
| Historical data available | 2019 to 2019 |
| Market Value in | Billion USD |
| Top Manufacturers | Beiersdorf AG L’Oreal Avon Products Inc. Unilever Shiseido Co. Ltd Procter & Gamble Revlon Johnson & Johnson Avon Products Beiersdorf Ag and Natura & Co Colgate-Palmolive Company etc,. |
| Segment of Industry | End-user Application Product Services Packaging Gender Distribution Regions |
| Report coverage | Top Brands Market Forecast Company Share Analysis Competition Intelligence Challanges Revenue generation DROT Analysis Market Dynamics and Growth structure |
| Key Regions | North America Europe South America Asia-Pacific Middle East & Africa |
In order to maintain and improve the appearance of human skin, skincare products are used. A number of products sold on the market contain alpha-hydroxy acids, beta-hydroxy acids, and retinol, including cleansers, toners, oils and serums, body lotions, and creams. These treatments help the skin's aging cells to naturally renew themselves, and fine lines, reduce wrinkles, and age spots, and keep the skin's overall health.
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The biggest revenue share was held by face creams and moisturizers, and this dominance is anticipated to continue during the projected period. Face creams and moisturizers are among the items that are used the most on the face and are therefore quite popular. In addition to offering benefits like immediate hydration, reduced breakouts, and regenerated skin, moisturizers are an easy, hassle-free, and quick solution to treat dry skin.
Regional insights
Globally, skincare products will grow at the fastest rate in the Asia Pacific region. A rise in awareness, the availability of more advanced skin care products, and an increase in wellness expenditure in the Asia Pacific region are some of the reasons contributing to the market growth for skincare products. The growing consumer knowledge and income levels are driving up demand for skin care products in the Asia Pacific region. Additionally, the growth of e-commerce platforms and offline distribution channels like hypermarkets that specialize in the sale of skincare products are anticipated to fuel the region's market growth over the course of the projection period. These factors should also help foreign companies become more well-known in the area.
For instance, the well-known American product company Hale Cosmeceuticals debuted Date Palm Deep Moisturizer and Natural AZA Cleanser in June 2021.
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