A recent research by Fact.MR anticipates the global skin grooming market to witness expansion at a moderate CAGR through 2022. Revenues from the global skin grooming market are projected to reach approximately US$ 204,000 Mn by 2022-end. The growth of the skin care market is primarily attributed to growing interests among young generation, altering lifestyle of people in developing countries, and soaring purchasing power of individuals, coupled with increasing awareness about beautification. However, the adoption of synthetic anti-oxidants has witnessed a decline on the back of government restrictions, and health concerns.
Surging trend of shifting preferences towards naturally derived products are expected to create potential demand growth opportunities for natural as well as active cosmetic ingredients such as botanical extracts, enzymes, and amino acids. Global leaders in the skin grooming market are increasingly concentrating on rapid adoption of the online platforms, in order to cater the widespread base of consumers. The market players are making substantial investments in R&D activities, and utilizing green technological raw materials in manufacturing skin care products, facilitating high sustainability, quality, and long-lasting performances. This in turn will prevent hazards to the environment, and offer consumers with advanced skin grooming products. These factors are expected to sustain growth of the global skin grooming market.
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Global Skin Grooming Market by Category
By Product Type :
- Cleansing Lotions
- Facial Masks
By Function :
- Rejuvenating Skin Grooming Products
- Age Defying Skin Grooming Products
- Age Reversing Skin Grooming Products
- Imperfection Correcting Skin Grooming Products
- Beauty Enhancing Skin Grooming Products
By Packaging Type :
By Gender :
By Distribution Channel :
- Online Sales
- Company Owned Websites
- E-Commerce Websites
- Offline Sales
- Cosmetic Stores
- Online Sales
By Region :
- North America
- Latin America
- East Asia
- South Asia
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7 Projections for the Global Skin Grooming Products Market
- Hypermarket/supermarket will continue to be the largest distribution channel segment in the global skin grooming market.
- Sales of skin grooming products through online distribution channel are expected to register a sluggish expansion through 2022.
- Asia Pacific excluding Japan (APEJ) is anticipated to remain dominant in the global market for skin grooming, with sales projected to exhibit a steady CAGR through 2022.
- Europe will continue to be the second most lucrative market for skin grooming products.
- On the basis of product type, moisturizers are estimated to remain sought-after in the global skin grooming market.
- Sales of sun protection creams and anti-aging creams are expected to exhibit similar CAGRs through 2022, with anti-aging creams being comparatively more lucrative than the sun protection creams.
- Key players mentioned in the global skin grooming market include Johnson & Johnson Services, Inc., Avon Products, Inc., Kao Corporation, The Estee Lauder Companies, Inc., Unilever PLC, Colgate-Palmolive Company, L’Oréal S.A., Beiersdorf AG, Shiseido Co., Ltd, and Mary Kay Inc.
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Competitive Landscape: Top Companies in Skin Grooming Market
The global skin grooming market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced skin grooming.
Fact.MR has provided detailed information about price points of top manufacturers of skin grooming market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
- The Estee Lauder Companies announced in 2021 to increase its investment from 29% to 76% in DECIEM Beauty Group Inc., a multi-brand company based in Canada. The company will purchase the remaining interests after 3 year period.
- In 2021, L’Oreal signed an agreement to acquire an American skincare company Youth to the People, based in California. Youth to the People develops high-performance skin care products, which will help L’Oreal in growing American brands portfolio in coming years.
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