Skin Toner Market Set to Surge to US$ 2.0 Billion by 2030 Driven by Soaring Worldwide Demand for Full Ingredient Transparency | Persistence Market Research

New York, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Market Size & Overview:

The skin toner market is expected to witness a compound annual growth rate (CAGR) of 5.3%, leading to an increase from US$1.3 billion in 2023 to US$2.0 billion by the end of 2030. Skin toners, categorized as cosmetic products, serve the purposes of moisturizing, cleansing, and minimizing the appearance of skin pores.

Major industry players offer a diverse range of skin toner market encompassing treatment, exfoliating, and moisturizing variants. Hydrating toners, known for their lightweight, pH-balanced, and non-drying properties, play a crucial role in replenishing the skin's protective layer, providing a refreshed and moisturized sensation.

These toners, enriched with ingredients such as hyaluronic acid, niacinamide, and ceramides, are swiftly absorbed, locking in moisture and contributing to a healthy and rejuvenated appearance while addressing dry skin concerns. The inclusion of multiple acids in moisturizing toners enhances their appeal, driving up consumer demand.

The market's growth is attributed to the increasing awareness of skincare products among the global millennial population. Skin specialists recommend these toners for addressing various skin conditions, including acne and pimples.

The expanding use of sunscreen and makeup products by both men and women is expected to further fuel market growth. Additionally, the growing spending power of the middle class in developing nations is poised to create new opportunities for manufacturers to establish robust offline and online distribution networks during the forecast period.

Furthermore, producers are packaging skin toners with other products as a strategy to attract more customers and stimulate market expansion.

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Market Scope: 

Market Growth Drivers:

Rising Millennial Population Awareness: The increasing awareness of skincare products, particularly among the global millennial population, plays a significant role in driving market growth. Millennials are more conscious of their skin health and are likely to seek and adopt skincare solutions, including skin toners.

Endorsement by Skin Specialists: Recommendations from skin specialists and dermatologists contribute to the market expansion. As professionals endorse skin toners for addressing various skin conditions, consumers are more likely to trust and incorporate these products into their skincare routines.

Treatment for Skin Conditions: Skin toners are often recommended for treating specific skin conditions such as acne and pimples. The therapeutic properties of certain toners make them sought-after solutions for individuals looking to address specific skincare concerns.

Increased Use of Sunscreen and Makeup Products: The growing usage of sunscreen and makeup products by both men and women drives the demand for skin toners. Toners are often used as a part of skincare routines to cleanse and prepare the skin for the application of other products like sunscreen and makeup.

Rising Middle-Class Spending Power: The expanding spending power of the middle class, particularly in developing nations, creates new opportunities for manufacturers. This demographics’ ability to afford skincare products contributes to the establishment of robust distribution networks, both offline and online.

Diversified Product Offerings: Large industry companies offering a variety of toners, including treatment, exfoliating, and moisturizing toners, cater to diverse consumer needs. The inclusion of ingredients such as hyaluronic acid, niacinamide, and ceramides adds value and enhances the appeal of hydrating toners.

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Market Restraints:

Sensitivity and Allergic Reactions: Some individuals may experience skin sensitivity or allergic reactions to certain ingredients commonly found in toners. This can deter potential consumers from using these products, leading to a limited market reach.

Perceived as Non-Essential: Skin toners may be perceived by some consumers as non-essential in their skincare routines. This perception can affect purchasing decisions, especially in regions or demographics where skincare routines are less established or prioritized.

Competition from Alternative Products: The skincare industry offers a wide range of products, and skin toners face competition from alternative solutions such as serums, essences, and micellar water. Consumers may choose alternatives based on personal preferences or perceived effectiveness.

Environmental Concerns: Increasing awareness of environmental issues may lead to scrutiny of the environmental impact of skincare products, including packaging. If toner packaging is perceived as excessive or not environmentally friendly, it could negatively affect consumer perception and demand.

DIY and Natural Alternatives: The popularity of do-it-yourself (DIY) skincare solutions and the preference for natural and organic products may divert consumers away from commercially produced skin toners. Natural alternatives may be perceived as gentler and more aligned with certain consumer preferences.

Opportunities:

Research and Development: Continued investment in research and development can lead to the discovery and incorporation of new and advanced ingredients in skin toners. Innovations, such as the use of cutting-edge formulations or technology, can differentiate products and attract consumers seeking the latest skincare solutions.

Customization and Personalization: The trend toward personalized skincare routines presents an opportunity for companies to offer customizable skin toners. Tailoring products to individual skin types, concerns, and preferences can enhance consumer satisfaction and loyalty.

Expansion into Emerging Markets: The rising middle-class spending power in emerging markets provides an opportunity for manufacturers to expand their market reach. Establishing a strong presence in regions where skincare awareness is growing can open up new avenues for sales and distribution.

E-commerce Growth: The increasing prevalence of e-commerce platforms offers a convenient and efficient channel for reaching a global consumer base. Companies can capitalize on the online retail space, reaching consumers who prefer to shop for skincare products from the comfort of their homes.

Green and Sustainable Products: Responding to the demand for eco-friendly and sustainable products, companies can develop environmentally conscious skin toners. Biodegradable packaging, cruelty-free formulations, and sustainable sourcing of ingredients can appeal to environmentally conscious consumers.

Analyst’s Viewpoint:

The global skin toner market is experiencing robust revenue growth, primarily propelled by the increasing awareness of skincare products and the regenerative properties of certain formulations that aid in repairing aging or damaged skin cells and tissues. This surge is notably pronounced among millennial consumers worldwide who are embracing skincare and haircare as integral parts of their healthy lifestyles.

Furthermore, the demand for face toners has witnessed a notable upswing in recent years, attributed to evolving lifestyles, rapid urbanization, and the growing emphasis on daily grooming routines. The heightened usage of face toners is closely linked to personal hygiene practices, prompting manufacturers to scale up their production capacities.

The expanding population and the universal desire for a refreshing feel throughout the day have further fueled the necessity for face toners. To cater to a widening consumer base, companies are redirecting their efforts beyond urban centers to tap into the burgeoning demand in rural markets. This geographical shift is indicative of the broader acceptance and adoption of face toners among diverse demographics.

Additionally, there is a discernible trend among cosmetics manufacturers to increase research and development expenditures, aiming to create a more extensive array of natural and organic beauty products. End consumers are increasingly cognizant of the benefits associated with natural ingredients like almonds, coconut oil, and aloe vera. The choice of natural components has become a significant factor influencing consumer decisions when selecting skin toners, reflecting a growing preference for products aligned with nature.

Supply-side Dynamics:

The skin toner market's suppliers encompass producers, retailers, and distributors who collectively facilitate the availability of skin toner products to consumers. The dynamics on the supply side are shaped by factors such as sourcing raw materials, manufacturing processes, distribution strategies, and the level of competitiveness in the market.

In formulating toners, manufacturers often blend astringents, water, and botanical extracts. These manufacturers play a pivotal role on the supply side by investing in production techniques and conducting research to develop innovative formulas.

Additionally, suppliers of raw materials play a crucial role by providing essential elements, including active substances and packaging materials. The accessibility of products is influenced by distribution channels, such as online stores and merchants.

Aspects like compliance with regional regulations, advancements in product packaging, and consumer preferences for natural or specific skincare ingredients have an impact on the supply side. The competitive landscape among suppliers can affect the overall dynamics of the skin toner market, driving diversity in products and encouraging advancements.

Competitive Intelligence and Business Strategy:

The skin toner industry is characterized by fragmentation, owing to the presence of numerous well-established local and national companies. Key players in this sector include Johnson & Johnson Consumer Inc., Dickinson Brands Inc., Kiehl’s Since 1851, Dermalogica, La Mer Technology, among others.

These leading companies are actively engaged in enhancing their manufacturing capacity and meeting global demand through strategic mergers and acquisitions. Additionally, they are placing significant emphasis on research and development efforts to introduce new and innovative products, leveraging novel skincare technologies and organic extracts. This commitment to progress and efficacy allows them to differentiate themselves and remain competitive in the market.

Several other businesses in the face cleansers and toners sector are pioneering advanced toners designed for specific skin types and concerns. Anticipated concerns related to anti-aging, acne-prone, dry, and oily skin are driving the demand for innovative skin toners. In response to these concerns, companies are expected to launch new products catering to various skincare needs.

Furthermore, with the increasing prominence of e-commerce in the personal care and cosmetics sector, major players in the skin toner market are actively expanding their online presence.

Substantial investments are being made in developing user-friendly websites and mobile applications to boost online sales. This strategic focus on e-commerce reflects the industry's commitment to adapting to evolving consumer preferences and capitalizing on digital channels for enhanced market reach.

Top Regional Markets:

North America is expected to maintain a leading position in the skin toner market throughout the forecast period. This dominance can be attributed to various factors, including a robust market for beauty and personal care products and a high purchasing power parity in the region.

The United States, in particular, stands out as a significant contributor to this market, driven by a substantial population over the age of 40, making it the largest consumer of cosmetics. The purchasing power and heightened self-consciousness about appearance among this age group are expected to fuel healthy growth in the skin toner industry.

Furthermore, according to the Observatory of Economic Complexity, the U.S. holds the largest share of global imports for powder puffs and pads used in cosmetic applications, accounting for 16.1% of total imports.

The demand for special skincare products is anticipated to rise in the U.S., particularly for patients undergoing procedures like radiation therapy or surgery for skin cancer. Companies are expected to introduce calming and gentle skin toners tailored to play a significant role in the aftercare regimens of such individuals, aiming to accelerate healing and minimize the visibility of scars. This underscores the potential for innovative skincare solutions to meet specific needs within the North American market.

The skin toner market in South Asia and Oceania is poised for notable growth during the forecast period, driven by factors such as the region's burgeoning population and a growing base of younger consumers.

Furthermore, the introduction of new products in these regions is expected to present fresh opportunities for existing players in the South Asia and Oceania skin toner market.

Coffee, rich in chlorogenic acid, can provide protection against UV rays and environmental contaminants. Skin toners infused with coffee extract are expected to offer enhanced defense against skin aging and environmental damage.

Key Recent Developments:

Product Launches and Innovations: Many skincare companies continuously introduce new products and formulations, incorporating innovative ingredients and technologies. For example, the launch of toners with novel ingredients or specific benefits, such as anti-aging properties or environmental protection.

Sustainability Initiatives: Skincare brands have been increasingly focusing on sustainability and eco-friendly practices. This includes the use of recyclable packaging, cruelty-free formulations, and a commitment to reducing their environmental impact.

Expansion into E-commerce: With the growing trend of online shopping, skincare companies have been expanding their presence in the e-commerce space. This involves optimizing online platforms, investing in user-friendly websites, and leveraging digital marketing strategies to reach a wider consumer base.

Partnerships and Collaborations: Collaborations between skincare brands and influencers, dermatologists, or other beauty professionals are common. These partnerships help in promoting products, sharing skincare routines, and providing expert endorsements.

Focus on Natural and Organic Ingredients: There has been a continued emphasis on using natural and organic ingredients in skincare products. Brands are highlighting the use of botanical extracts, essential oils, and plant-based formulations to cater to the increasing consumer demand for clean beauty.

Some of the market players:

• Dermalogica: Professional skincare brand with a focus on skin health, offering cleansers, toners, and treatments.
• Dr. Hauschka: Natural and organic skincare brand, using medicinal plant extracts for holistic skincare solutions.
• Dickinson Brands Inc: Known for Witch Hazel-based skincare products, offering gentle and effective solutions.
• Johnson & Johnson Consumer Inc: Global conglomerate with diverse consumer healthcare products, including popular skincare brands like Neutrogena and Aveeno.
• Kiehl’s Since 1851: Long-standing skincare brand with premium formulations, offering toners, cleansers, and serums.
• La Mer Technology: Luxury skincare brand, renowned for sea-derived ingredients and flagship product "Crème de la Mer."
• Mario Badescu Skin Care, Inc: Established in 1967, known for personalized skincare solutions catering to various skin types and concerns.
• PIXI - SJOVIK LTD: Innovative and accessible skincare brand, celebrated for botanical-based products suitable for all skin types.

Skin Toner Market Segmentation:

By Form:

Fluid: Fluid toners typically have a liquid consistency, providing a lightweight and easily absorbable texture for the skin.

Mist: Mist toners come in a spray form, offering a refreshing and hydrating application, often used to revitalize the skin throughout the day.

By Product:

Organic: Organic toners are formulated with natural ingredients, free from synthetic chemicals, appealing to consumers seeking clean and eco-friendly skincare options.

Conventional: Conventional toners may include a mix of natural and synthetic ingredients, catering to a broader market with a focus on diverse skincare needs.

By Gender:

Men: Toners designed specifically for men, addressing skincare concerns unique to male skin and grooming preferences.

Women: Toners tailored for women, considering a range of skincare needs and preferences, often addressing factors like anti-aging or hydration.

By Distribution Channel:

Convenience Stores: Toners available in convenience stores for easy accessibility and quick purchases, targeting on-the-go consumers.

Supermarkets & Hypermarkets: Toners sold in larger retail outlets, providing a variety of options and catering to a broad consumer base.

Online: Toners available through online platforms, offering convenience and a wide product range for consumers who prefer digital shopping.

By Region:

North America: The skin toner market in North America, characterized by a robust demand for beauty products and high purchasing power.

Europe: The European market for skin toners, influenced by diverse consumer preferences and a growing emphasis on skincare routines.

East Asia: Skin toner market in East Asia, known for innovations, technological integration, and a strong skincare culture.

South Asia & Oceania: Growing market in South Asia & Oceania, driven by a youthful population and increasing focus on health and well-being.

Latin America: The skin toner market in Latin America, influenced by cultural beauty norms and the adoption of skincare practices.

Middle East & Africa: Developing market in the Middle East & Africa, influenced by changing consumer preferences and a growing interest in skincare.

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