Cosmetic Skin Care Market is projected to rise to US$200 bn by 2024; Anti-aging Products to Remain Most Valuable Category:TMR

Albany – NY, Sept. 29, 2016 (GLOBE NEWSWIRE) — The global cosmetic skin care market is primarily driven by rising demand for natural active ingredients based cosmetics that are finding favor among health and environment conscious consumers. Growth in the cosmetic skin care market is expected to be fuelled by the continuous innovation and development of more effective anti-aging and sun protection products in the upcoming future. The trend toward natural products is projected to create prospective market opportunities for natural and active cosmetic ingredients such as enzymes, botanical extracts, and amino acids. In addition, the demand for cosmetic skin care market is on the rise with growing interest in grooming among the young generation in different countries across the world Youngsters opt for skin brightening or skin whitening creams or lotions.

The changing lifestyles of consumers in developing markets, increase in per capita income, and rising awareness about beautification are also contributing to the growth of the overall cosmetic skin care industry which in turn benefits cosmetic skin care product manufacturers. However, growing health concerns and various government restrictions are lowering the usage of synthetic antioxidants such as BHA (Butylated hydroxyanisole) in cosmetic products across the European countries

Under the scope of the report, the global cosmetic skin care market is divided into three segments: (i) by product (ii) by application and (iii) by geography. In terms of products, the cosmetic skin care market has been segmented into anti-aging cosmetic products, skin whitening cosmetic products, sensitive skin care products, anti-acne products, dry skin care products, warts removal products, infant skin care products, anti-scars solution products, mole removal products, and multi utility products. The multi utility cosmetic skin care products segment includes BB cream (Beauty Balm), CC (Color Correcting) cream, DD (Daily Defense) cream, 7 in 1 skin care cream and solutions. In terms of revenue, anti-aging cream segment held the largest share of the global cosmetic skin care products market in 2015 due to its diversified applications, whereas multi utility skin care cosmetics are expected to be the fastest growing product segment. On the basis of application, the market is bifurcated into stem cells protection against UV, flakiness reduction, rehydrate the skin’s surface, minimize wrinkles, increase the viscosity of aqueous solutions in skin, and others. Others application segment includes removal of black patches and darkness, minimize scars of acne, mole and warts and infant skin care among others.

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Increasing problem of early signs of aging and changing lifestyle is fueling the demand for cosmetic skin care products. Moreover, rising number of retail outlets and strengthening retail network is anticipated to be the most prominent drivers for the global cosmetic skin care market. Based on geography, the global cosmetic skin care market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). Each region is further segregated into major country to draw attention to the respective market share of cosmetic skin care in each country. In 2015, Asia Pacific held the largest share of the cosmetic skin care market followed by Europe, North America, Latin America, and Middle East and Africa (MEA). Asia Pacific is largest cosmetic skin care market. However, Middle East and Africa is expected to be the fastest growing region during the next eight years. In addition, Asia Pacific is expected to maintain its leading position during the forecast period. Globally, Asia Pacific is the leading market for cosmetic skin care products due to significant growth in retail sales driven by the huge population in  the region and is projected to hold its position over the forecast period from 2016 to 2024.

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In this report, detail analysis of major driving factors along with key restraints and opportunities (DROs) of the cosmetic skin care market are covered. The research study analyzed the ongoing market trends and provides details forecast for the period from 2016 to 2024. The study covers all major developed as well as developing countries globally. The size and forecast for these markets for the period from 2016 to 2024 has been provided in the report. The report also provides the company market share analysis of key players operating in the cosmetic skin care industry. Some of the key players in this market include L’Oreal S.A., Unilever PLC, Procter & Gamble, Beiersdorf AG, Avon Products Inc., The Estee Lauder Companies Inc., Johnson & Johnson, Kao Corporation, and The Body Shop International PLC among others.

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