Skin care products are those that support in maintaining the skin’s texture, enhance its appearance, in addition to curing skin conditions. For instance, Revlon Inc. launched a series of Almay Kinetin Skincare Advanced Anti-Aging products in 2017. Moreover, skin care products provide nutrition required for the skin, whereas products such as sunscreen lotions protect the skin from harmful UV-radiations and help prevent skin cancer.
Growing personal care industry worldwide is driving growth of the skin care products market. According to the International Trade Administration (ITA), in 2014, per capita spending on cosmetic products was reported as US$ 139 in the U.S., US$ 171 in South Korea, and US$ 174 in Japan.
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Among distribution channels, online stores segment is expected to gain a significant growth rate during the forecast period, owing to wide range of products available in addition to various discounts and delivery options offered by these store. Moreover, the growing e-commerce industry is expected to boost the online sales of skin care products. For instance, according to U.S. Census Bureau News, total e-commerce sales in the U.S. in 2017 accounted for US$ 453.5 billion, which was an increase of 16.0% compared to 2016.
Among product type, face care segment is expected to observe a significant growth during the forecast period, owing to regular use of face care products by women. For instance, according to an article published in the International Journal of Current Pharmaceutical Review and Research, in 2015, a study examined attitudes and behavior of women regarding facial skin care products reported that majority of the respondents use facial creams daily.
Global Skin Care Products Market, By Distribution Channel:
Global Skin Care Products Market, By Formulation:
Key companies covered as a part of this study include Unilever Plc., Shiseido Company Ltd., Johnson & Johnson Inc., Procter & Gamble Co., L'Oréal S.A., Revlon Inc., Kao Corporation, and Avon Products Inc., Beiersdorf AG, Colgate Palmolive Company, and others.
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