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The global Skin Care Market Size is expected to attain a market size of $176.6 billion by 2022, growing at a CAGR of 4.8% during the forecast period.
Skin Care Products are used extensively by the population for maintaining and improving the appearance of face and other body parts. The main consumers of these products are females; however, it is also gaining attraction among males, due to changing lifestyles. The Skin Care products include face packs, creams, moisturizer, lotions, and conditioners among others. These products help in conditioning the skin, protecting the skin from environmental dust, oil & pollution and also clean makeup and soils. Additionally, these products help in maintaining the texture of skin, prevents early aging, pimples, black patches and other skin issues.
Generally, Skin care products are performs functions like moisturizing, cleansing, and conditioning among others. The products contain fragrances and colorants, while applying gives pleasant feel. With the addition of ingredients such as viscosity control agents and thickening agents, the integrity and shelf life of the products are maintained. The key factor driving the growth of skin care products are changing lifestyle in emerging economies and growing demand for skin care products. Additionally, growing awareness towards skin care with the emergence of new and innovative skin care products is also one of the factors contributing towards the growth of skin care products. However, skin issues with the use of inorganic skin care products are restraining the growth of the market. There has been a prominence rise in the adoption for organic and herbal based products in personal Care industry. People are moving towards the use of herbal products, for example, herbal medicines, natural food, and now herbal skin care products.
People are now adopting more and more herbal based products in spite of chemical based products. The factors are becoming advantageous for market competitors. Manufactures are now switching towards the formula of natural and organic touch in their existing products for targeting more and more consumers. The market for skin care products has been segmented on the basis of type and region. Based on Region, the market has been segmented into Face Creams and Body Lotion. Face Creams are further segmented into Anti-Ageing Cream, Skin Brightening Creams, and Sun Protection. On the other hand, Body lotions are divided into Mass Market Body Care Lotion, Premium Body Care. Based on the region, the skin care products market is segmented into North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa).
The key players operating in Skin Care Products Market are Johnson & Johnson Private Limited, Unilever Plc, The Este Lauder Companies Inc., Avon Products Inc., Kao Corporation, L?Oreal S.A., Colgate-Palmolive Company, Shiseido Company, Beiersdorf Ag, and Procter & Gamble Co. Recently, KOS? Corporation has launched two new products Spawake Moisturising 2-in-1 Foam Cleanser & Spawake Whitening Ultra Fresh Gel Cream in India.