- Aug. 19, 2019
-- Forecasts by Type (Personal Care & Cosmetics, Pharmaceuticals, Industrial, Baby care products, Others). Plus, Leading Companies
It is anticipated that increased demand for natural, herbal and organic goods with no adverse effects will increase market growth over the forecast period. This increase in the size of the market will be ascribed to the existence of premium brands as customers become more interested in extending their skin care understanding. Also, it is also anticipated that increased awareness of natural ingredients that provide UV protection will boost market growth. Demand for products with anti-aging characteristics is anticipated to increase with the increasing geriatric population, thus driving the general market. A broad range of products are on the market, anti-aging creams, including sunscreens, body lotions, and skin-brightening creams.
Growing awareness of synthetic counterparts ' adverse effects has helped to boost demand for natural products. Segment facial creams retained the biggest market share in 2019 and is anticipated to continue to dominate over the forecast period. Increasing demand for skin-brightening face creams is anticipated in the coming years to increase market growth. In 2019, the segment of body lotions also retained a important market position. With preventive skin care products, consumers are progressively focused on defending their skin as exposure to damaging UV radiation can trigger premature skin aging or even lead to skin cancer. Over the previous few years, the general personal care industry has witnessed exponential growth in the Asia Pacific region. Europe retained the second largest share on the worldwide market for skin care products, 2018.
The market is extremely competitive, dominated by big multinationals. On the other hand, owing to the growing consumer interest in natural beauty goods, countless smaller businesses have acquired a share in this market. Key players in this industry include L'Oréal S.A., Unilever, Beiersdorf AG, The Colgate-Palmolive Company, The Estée Lauder Companies, Inc., Johnson and Johnson, Avon Products, Inc., Shiseido Co., Ltd., The Procter & Gamble Company, Revlon, Inc.