Global Facial Skincare Market Set to Surpass $142 Billion by 2030, Fuelled by a Steady 5.8% CAGR

Date:

Global Facial Skincare Market Set to Surpass 2 Billion by 2030, Fuelled by a Steady 5.8% CAGR

DUBLIN, Oct. 23, 2023 /PRNewswire/ — The “Facial Skincare Market Size, Share & Trends Analysis Report By Product Type (Skin-whitening & Anti-ageing, Facial Creams), By Gender (Male, Female), By Distribution Channel, By Region, And Segment Forecasts, 2023 – 2030” report has been added to  ResearchAndMarkets.com’s offering.

The global facial skincare market is experiencing robust growth, with expectations of reaching a substantial USD 142.11 billion by 2030. This growth is anticipated to accelerate at a steady CAGR of 5.8% from 2023 to 2030.

Key drivers of this market expansion include increasing awareness of the importance of facial products for maintaining healthy skin, enhancing skin appearance, and addressing skin conditions. Additionally, the rising purchasing power of the working-class population in emerging nations such as China, India, and Brazil is driving demand for cosmetic products, while Asia Pacific sees a surge in demand for long-lasting product variants, particularly skin-whitening agents.

Factors Driving Market Growth:

The facial skincare industry has witnessed significant advancements in product formulations and technologies, with ingredients like hyaluronic acid, retinol, and vitamin C gaining popularity for their proven benefits in improving skin texture, reducing signs of aging, and brightening the complexion. The growth of e-commerce has made it easier for consumers to access skincare products from around the world, expanding the reach of many skincare brands.

Impact of the COVID-19 Pandemic:

The COVID-19 pandemic has had a significant impact on various industries, including the skincare market. The pandemic shifted many people’s priorities towards health and hygiene, leading to increased interest in products promoting skin health and cleanliness. Personalized solutions gained traction as consumers sought individualized skincare recommendations without in-person interactions, with brands offering customized regimens and virtual consultations benefiting from this trend.

Companies Mentioned

  • L’Oreal
  • Procter and Gamble
  • Oriflamme
  • Unilever
  • Estee Lauder Company
  • Johnson & Johnson

Report Highlights:

  • Facial Creams Dominance: Facial creams accounted for the largest share of global revenue in 2022, making up 36.48% of the market. Extensive commercial marketing campaigns and celebrity endorsements have contributed to the increased demand for face creams.
  • Target Audience: Women are the major consumers of the facial care industry, accounting for over 58.76% of the overall revenue in 2022.
  • Retail Channel Leadership: Supermarkets and hypermarkets held the largest revenue share of 45.77% in 2022. These retail formats provide customers with various advantages, including choice, lower prices, and visibility for global brands.
  • Regional Insights: North America led the facial skincare market in 2022, with a revenue share of 35.85%. This growth is attributed to the presence of major product manufacturers such as Procter & Gamble and Unilever in North America, coupled with the development of infrastructural facilities for retailers.

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Global Facial Skincare Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.1.1. Growing awareness regarding the skincare products
3.3.1.2. Expanding purchasing power
3.3.1.3. Rising R&D by major manufacturers
3.3.2. Market restraint analysis
3.3.2.1. Stringent government regulations
3.3.2.2. Complications/risks associated with allergies or sensitivities
3.4. Facial Skincare Market Analysis Tools

Chapter 4. Facial Skincare Market: Product Type Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Skin-whitening & Anti-Ageing
4.1.2. Facial Creams
4.1.3. Serums & Masks
4.1.4. Others
4.2. Product Type Market Share, 2022 & 2030
4.3. Segment Dashboard
4.4. Global Facial Skincare Market by Product Type Outlook
4.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.5.1. Skin-whitening & Anti-ageing
4.5.1.1. Skin-whitening & Anti-ageing market estimates and forecast 2018 to 2030 (USD Billion)
4.5.2. Facial Creams
4.5.2.1. Facial Creams market estimates and forecast 2018 to 2030 (USD Billion
4.5.3. Serums & Masks
4.5.3.1. Serums & Masks market estimates and forecast 2018 to 2030 (USD Billion
4.5.4. Others
4.5.4.1. Other market estimates and forecast 2018 to 2030 (USD Billion)

Chapter 5. Facial Skincare Market: Gender Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Male
5.1.2. Female
5.2. Gender Market Share, 2022 & 2030
5.3. Segment Dashboard
5.4. Global Facial Skincare Market by Gender Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5.1. Male
5.5.1.1. Male market estimates and forecast 2018 to 2030 (USD Billion)
5.5.2. Female
5.5.2.1. Female market estimates and forecast 2018 to 2030 (USD Billion)

Chapter 6. Facial Skincare Market: Distribution Channel Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Hypermarkets/Supermarkets
6.1.2. Pharmacies
6.1.3. Online
6.2. Distribution Channel Market Share, 2022 & 2030
6.3. Segment Dashboard
6.4. Global Facial Skincare Market by Distribution Channel Outlook
6.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5.1. Hypermarkets/Supermarkets
6.5.1.1. Hypermarkets/Supermarkets market estimates and forecast 2018 to 2030 (USD Billion)
6.5.2. Pharmacies
6.5.2.1. Pharmacies market estimates and forecast 2018 to 2030 (USD Billion)
6.5.3. Online
6.5.3.1. Online market estimates and forecast 2018 to 2030 (USD Billion)

Chapter 7. Global Facial Skincare Market: Regional Estimates & Trend Analysis

Chapter 8. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/u43qgm

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