According to
a new market report published by Lucintel, the future of the global skincare product industry looks good with opportunities in the areas
of anti-aging, sun protection, body care lotion, and multi-functional skin
cream. The global skincare product industry is expected to reach an
estimated $135.1 billion by 2021 and is forecast
to grow at a CAGR of 3.8% by value from 2016 to 2021.
The major drivers for the growth
for this market are increasing awareness among consumers about skin care
and consumers’ inclination towards multi-functional skincare creams.
In this
industry, facial care, body and hand care, depilatories, and sun care are the
major segments by product type. On
the basis of comprehensive research, Lucintel forecasts that the facial care
segment is expected to show above average growth during the forecast period.
Within the
skincare product industry, facial care is expected to be the largest segment by
value and volume. Growth in
demand for skincare products is
largely dependent on growing health awareness regarding sunburn damage and an
increase in penetration of multi-functional skincare products in applications
like anti-aging and skin lightening. Anti-aging creams are also combined with
sun protection properties to be used as multifunctional skincare creams, which would
spur growth for this segment over the forecast period.
Asia Pacific
is expected to remain the largest market due to the increasing population and rising per capita income in this region.
The APAC region is expected to witness
significant growth over the forecast period because of the rise in population
and in disposable income; also, there is increasing awareness about appearance, especially in
India, China, Japan, and South Korea.
For business expansion, the report suggests
innovation and new product development to produce skincare products which have
excellent transparency, outstanding dispersing properties, and better
functional benefits for the end user. The report
further suggests the development of partnerships with customers to develop user
friendly skincare products.
Emerging trends, which have a direct impact on the dynamics of the
industry, include multiple featured products,
such as fairness creams with sun block features and sun care products with
anti-aging effects. L’Oréal, Unilever
PLC, Estee Lauder Companies Inc., Kao Corporation, and Procter & Gamble are
the major manufacturers of skincare products.
Lucintel,
which is a leading global strategic consulting and market research firm, has
analyzed the global skincare
product industry and compiled a
comprehensive research report entitled “Growth
Opportunities in the Global Skincare Product Industry 2016-2021: Trends,
Forecast, and Opportunity Analysis.”
The Lucintel report serves as a springboard for growth strategy because it
provides comprehensive data and analysis on trends, key drivers, and
directions. The study includes a forecast for the global
skincare product industry for personal care products as facial care, body and
hand care, depilatories, and sun care as follows:
By
product [Value ($ Billion) and Volume (Billion Units) for 2010 – 2021]:
- Facial care
- Anti-aging
- Moisturizer
- Cleanser and Scrub
- Others
- Body and Hand Care
- Body Care
- Hand Care
- Depilatories
- Sun care
- After Sun
- Self-Tanning
- Sun Protection
- By region [Value ($ Billion) and Volume (Billion Units) for 2010 – 2021]:
- North America
- Europe
- Asia Pacific
- Rest of the World
This
217-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or
helpdesk@lucintel.com. Lucintel offerings include Consumer
Goods Report, Consumer
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report addresses the following key
questions:
Q.1 What are some of the most promising, high-growth
opportunities for the skincare product industry by product including facial care (anti-aging,
moisturizer, cleanser and scrub, and others), body and hand care, depilatories,
and sun care (after sun, self-tanning, and sun protection) and by region of
North America, Europe, Asia Pacific, and the Rest of the World?
Q.2 Which segment will grow at a faster pace
and why?
Q.3 Which region will grow at a faster pace
and why?
Q.4 What are the key factors affecting
industry dynamics? What are the drivers and challenges in this industry?
Q.5 What are the business risks and
competitive threats in this industry?
Q.6 What are the emerging trends in this
industry and reasons behind them?
Q.7 What are some of the changing demands of
customers in the industry?
Q.8 What are the new developments in the
industry and which companies are leading these developments?
Q.9 Who are the major players in this
industry? What strategic initiatives are being taken by key players for
business growth?
Q.10 What are some of the competing products
in this industry and how big of a threat do they pose for loss of market share
by product substitution?
Q. 11 What M&A activities have occurred in the last 5
years?
