This report describes and explains the skincare market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global skincare market reached a value of nearly $142.16 billion in 2024, having grown at a compound annual growth rate (CAGR) of 5.20% since 2019. The market is expected to grow from $142.16 billion in 2024 to $196.74 billion in 2029 at a rate of 6.71%. The market is then expected to grow at a CAGR of 6.56% from 2029 and reach $270.25 billion in 2034.
Growth in the historic period resulted from the increased spending on self-care, increased focus on anti-aging solutions and rising disposable income. Factors that negatively affected growth in the historic period were price sensitivity and concerns over adverse reactions.
Going forward, the projected growth in wellness-focused lifestyles, growing aging population, expansion of e-commerce and rising urbanization will drive the growth. Factor that could hinder the growth of the skincare market in the future include changing consumer preferences and economic challenges.
The global skincare market is concentrated, with large players operating in the market. The top ten competitors in the market made up to 41.47% of the total market in 2023. L'Oreal was the largest competitor with a 13.40% share of the market, followed by Estee Lauder Companies Inc. with 5.93%, Unilever plc. with 5.08%, Procter & Gamble Company (P&G) with 4.56%, Beiersdorf AG with 4.44%, LVMH Moet Hennessy Louis Vuitton S.E. with 2.02%, Natura & Co. with 2.01%, Chanel with1.48%, Amorepacific Corporation with 1.32% and Kao Corporation with 1.24%.
Asia-Pacific was the largest region in the skincare market, accounting for 39.07% or $55.54 billion of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the skincare market will be Asia Pacific and Africa where growth will be at CAGRs of 7.62% and 7.15% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 7.09% and 6.88% respectively.
The skincare market is segmented by product type into creams, lotions, powders, sprays and other products. The creams market was the largest segment of the skincare market segmented by product type, accounting for 35.50% or $50.46 billion of the total in 2024. Going forward, the lotions segment is expected to be the fastest growing segment in the skincare market segmented by product type, at a CAGR of 7.49% during 2024-2029.
The skincare market is segmented by gender into men and women. The women market was the largest segment of the skincare market segmented by gender, accounting for 70.11% or $99.67 billion of the total in 2024. Going forward, the men segment is expected to be the fastest growing segment in the skincare market segmented by gender, at a CAGR of 8.17% during 2024-2029.
The skincare market is segmented by distribution channel into stores, supermarkets, online and other end-users. The supermarkets market was the largest segment of the skincare market segmented by distribution channel, accounting for 37.42% or $53.2 billion of the total in 2024. Going forward, the online segment is expected to be the fastest growing segment in the skincare market segmented by distribution channel, at a CAGR of 7.72% during 2024-2029.
The skincare market is segmented by packaging type into tube, bottle, jar and other packaging types. The tube market was the largest segment of the skincare market segmented by packaging type, accounting for 45.66% or $64.91 billion of the total in 2024. Going forward, the tube segment is expected to be the fastest growing segment in the skincare market segmented by packaging type, at a CAGR of 7.41% during 2024-2029.
The top opportunities in the skincare markets segmented by product type will arise in the creams segment, which will gain $19.39 billion of global annual sales by 2029. The top opportunities in the skincare market segmented by gender will arise in the women segment, which will gain $34.15 billion of global annual sales by 2029. The top opportunities in the skincare markets segmented by distribution channel will arise in the supermarkets segment, which will gain $21.56 billion of global annual sales by 2029. The top opportunities in the skincare markets segmented by packaging type will arise in the tube segment, which will gain $27.9 billion of global annual sales by 2029. The skincare market size will gain the most in China at $8.78 billion.
Market-trend-based strategies for the skincare market include expanding market reach through partnerships and collaborations, shift towards sustainability and eco-friendly practices in skincare and preserving skincare formulations with eco-conscious packaging design.
Player-adopted strategies in the skincare market include focusing on strengthening business expertise, expanding capabilities and improving portfolio through new partnerships and strategic launches.
To take advantage of the opportunities, the analyst recommends the skincare companies to focus on strategic partnerships to expand market reach, focus on sustainability and eco-friendly practices, focus on eco-friendly packaging innovations, focus on the lotions segment for growth, focus on the men’s skincare segment for growth, focus on the tube packaging segment for growth, expand in emerging markets, focus on expanding online and direct-to-consumer channels, focus on developing tiered pricing strategies, focus on digital marketing and influencer partnerships, focus on loyalty programs and customer engagement and focus on the online skincare market for growth.
The global skincare market reached a value of nearly $142.16 billion in 2024, having grown at a compound annual growth rate (CAGR) of 5.20% since 2019. The market is expected to grow from $142.16 billion in 2024 to $196.74 billion in 2029 at a rate of 6.71%. The market is then expected to grow at a CAGR of 6.56% from 2029 and reach $270.25 billion in 2034.
Growth in the historic period resulted from the increased spending on self-care, increased focus on anti-aging solutions and rising disposable income. Factors that negatively affected growth in the historic period were price sensitivity and concerns over adverse reactions.
Going forward, the projected growth in wellness-focused lifestyles, growing aging population, expansion of e-commerce and rising urbanization will drive the growth. Factor that could hinder the growth of the skincare market in the future include changing consumer preferences and economic challenges.
The global skincare market is concentrated, with large players operating in the market. The top ten competitors in the market made up to 41.47% of the total market in 2023. L'Oreal was the largest competitor with a 13.40% share of the market, followed by Estee Lauder Companies Inc. with 5.93%, Unilever plc. with 5.08%, Procter & Gamble Company (P&G) with 4.56%, Beiersdorf AG with 4.44%, LVMH Moet Hennessy Louis Vuitton S.E. with 2.02%, Natura & Co. with 2.01%, Chanel with1.48%, Amorepacific Corporation with 1.32% and Kao Corporation with 1.24%.
Asia-Pacific was the largest region in the skincare market, accounting for 39.07% or $55.54 billion of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the skincare market will be Asia Pacific and Africa where growth will be at CAGRs of 7.62% and 7.15% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 7.09% and 6.88% respectively.
The skincare market is segmented by product type into creams, lotions, powders, sprays and other products. The creams market was the largest segment of the skincare market segmented by product type, accounting for 35.50% or $50.46 billion of the total in 2024. Going forward, the lotions segment is expected to be the fastest growing segment in the skincare market segmented by product type, at a CAGR of 7.49% during 2024-2029.
The skincare market is segmented by gender into men and women. The women market was the largest segment of the skincare market segmented by gender, accounting for 70.11% or $99.67 billion of the total in 2024. Going forward, the men segment is expected to be the fastest growing segment in the skincare market segmented by gender, at a CAGR of 8.17% during 2024-2029.
The skincare market is segmented by distribution channel into stores, supermarkets, online and other end-users. The supermarkets market was the largest segment of the skincare market segmented by distribution channel, accounting for 37.42% or $53.2 billion of the total in 2024. Going forward, the online segment is expected to be the fastest growing segment in the skincare market segmented by distribution channel, at a CAGR of 7.72% during 2024-2029.
The skincare market is segmented by packaging type into tube, bottle, jar and other packaging types. The tube market was the largest segment of the skincare market segmented by packaging type, accounting for 45.66% or $64.91 billion of the total in 2024. Going forward, the tube segment is expected to be the fastest growing segment in the skincare market segmented by packaging type, at a CAGR of 7.41% during 2024-2029.
The top opportunities in the skincare markets segmented by product type will arise in the creams segment, which will gain $19.39 billion of global annual sales by 2029. The top opportunities in the skincare market segmented by gender will arise in the women segment, which will gain $34.15 billion of global annual sales by 2029. The top opportunities in the skincare markets segmented by distribution channel will arise in the supermarkets segment, which will gain $21.56 billion of global annual sales by 2029. The top opportunities in the skincare markets segmented by packaging type will arise in the tube segment, which will gain $27.9 billion of global annual sales by 2029. The skincare market size will gain the most in China at $8.78 billion.
Market-trend-based strategies for the skincare market include expanding market reach through partnerships and collaborations, shift towards sustainability and eco-friendly practices in skincare and preserving skincare formulations with eco-conscious packaging design.
Player-adopted strategies in the skincare market include focusing on strengthening business expertise, expanding capabilities and improving portfolio through new partnerships and strategic launches.
To take advantage of the opportunities, the analyst recommends the skincare companies to focus on strategic partnerships to expand market reach, focus on sustainability and eco-friendly practices, focus on eco-friendly packaging innovations, focus on the lotions segment for growth, focus on the men’s skincare segment for growth, focus on the tube packaging segment for growth, expand in emerging markets, focus on expanding online and direct-to-consumer channels, focus on developing tiered pricing strategies, focus on digital marketing and influencer partnerships, focus on loyalty programs and customer engagement and focus on the online skincare market for growth.
Major Market Trends
- Expanding Market Reach Through Partnerships and Collaborations
- Shift Towards Sustainability and Eco-Friendly Practices in Skincare
- Preserving Skincare Formulations With Eco-Conscious Packaging Design
Key Mergers and Acquisitions
- L’Oréal SA Acquired Gowoonsesang Cosmetics To Strengthen Asian Market
- Nykaa Acquired Earth Rhythm To Better Growth and Market Presence
- American Exchange Group Acquired Indie Lee & Co. To Boost Fast-Evolving Beauty Market
- Forum Brands LLC Acquired Ever Skincare For Expanding Personal Care Market
- The Estée Lauder Companies Inc. Acquired DECIEM Beauty Group
- Bridgepoint Group Acquired RoC Skincare
- e.l.f. Beauty Inc Acquired Naturium
- Evonik Industries AG Acquired Novachem Srl
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Skincare Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Skincare Market Segmentation
11 Skincare Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Skincare Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Skincare Global Market Opportunities And Strategies To 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global skincare market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for skincare? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The skincare market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider skincare market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type, by gender, by distribution channel and by packaging type.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the skincare market.
- Global Market Size And Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by product type, by gender, by distribution channel and by packaging type in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations - This section includes recommendations for skincare providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Product Type: Creams; Lotions; Powders; Sprays; Other Products2) By Gender: Men; Women
3) By Distribution Channel: Stores; Supermarkets; Online; Other End-Users
4) By Packaging Type: Tube; Bottle; Jar; Other Packaging Types
Key Companies Mentioned: L’Oréal; Estee Lauder Companies Inc.; Unilever plc.; Procter & Gamble Company (P&G); Beiersdorf AG
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; skincare indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The major companies featured in this Skincare market report include:- L’Oréal
- Estee Lauder Companies Inc.
- Unilever plc.
- Procter & Gamble Company (P&G)
- Beiersdorf AG
- LVMH Moet Hennessy Louis Vuitton S.E
- Natura & Co.
- Chanel
- Amorepacific Corporation
- Kao Corporation
- Proya Cosmetics
- Shanghai Jahwa United Co., Ltd
- Beiersdorf China (Nivea)
- Yunnan Baiyao Group
- Beijng Jala Group
- MONAT GLOBAL Ltd
- Shiseido
- GESKE German Beauty Tech
- Hydrinity
- Oway
- Facetheory
- Clarins
- Dior
- Vichy
- LVMH
- Dr. Hauschka
- Weleda
- Kneipp
- Prada
- Collistar
- Pupa Milano
- Puig
- Martiderm
- Isdin
- Boots
- The Body Shop
- Charlotte Tilbury
- Farmec S.A
- Arnest Group
- True Skincare
- Alza.cz
- Manufaktura
- Ziaja Ltd
- Dr. Irena Eris
- Gerovital
- Ivatherm
- Natura Siberica
- Naturium LLC
- Shoppers Drug Mart
- Taro Pharmaceuticals Inc
- Walgreens Boots Alliance
- The Honest Company Inc
- Merck & Co., Inc
- Naples Soap Company Inc
- TruFacial
- The Ordinary
- Boreal Folk
- Consonant Skincare
- Indeed Labs
- L'Oréal Mexico
- Neutrogena Corporation
- The Estée Lauder Companies
- Neutrogena
- Proactiv
- Clinique
- Avon Products Inc
- Botica Comercial Farmacêutica Ltd
- Al Haramain Perfumes
- The Arabian Oud
- FACES UAE
- Bayer AG
- CAVI Brands (Pty) Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 291 |
| Published | March 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 142.16 Billion |
| Forecasted Market Value ( USD | $ 270.25 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 73 |
