The global skin care products market is segmented on the basis of product and geography. Based on product, the market is bifurcated into face cream and body lotion. Face cream includes skin brightening creams, antiaging creams, and sun protection creams.
Who is the target market for skin care products?
Cosmetics includes a wide range of products from skincare items to makeup and beauty items. These are items that predominantly appeal to women and women are more likely to purchase beauty products than men; even though some men are interested in cosmetics.
What market structure is cosmetics?
The makeup industry is a prime example of an Oligopoly. Product differentiation not only provides variety between drugstore brands and high-end brands but allows the market to have substitutions.
How big is the skincare market?
Overview: global and U.S.
As of 2020, the world’s most lucrative skin care market is the U.S. market with a revenue of approximately 17.6 billion U.S. dollars.
How is the skincare industry growing?
Skincare’s growth is attributable to the unique position it occupies amongst a variety of trends: growing desire for health-promoting and self-care products, increasing interest in the power of regimens and routines, the ability of social media to more rapidly empower and inform consumers and, uniquely, the ability of …
What age group buys the most skin care products 2021?
The age group between 18 and 24 is the one that buys the most skin care products, being in the 82nd percentile. They are followed by the up-to-17-year-old demographic. Skin care industry trends reveal that those aged more than 65 are also a prominent group.
What age group buys the most skin care products?
According to a survey conducted in February 2021 in the United States, skin care was the most shopped-for beauty category across all age groups. The majority of Gen Z shoppers (aged 18 to 24 years) said skin care was the product category they currently spend the most on.
What is the most profitable cosmetic product?
Within the cosmetics category in the U.S., eye cosmetics was the most profitable segment. In 2020, about 1.96 billion U.S. dollars were generated from sales of eye cosmetics in the U.S. Facial cosmetics was the second most profitable segment, with sales revenue of 1.9 billion U.S. dollars.
How much is the cosmetic industry worth 2021?
The global beauty industry market is valued at $511 billion in 2021. The beauty and personal care market will hit a jaw-dropping market size of $716.6 billion by 2025. The US cosmetic market is worth a staggering $62.46 billion.
Is the beauty industry profitable?
Beauty industry statistics, market share, and worth
Total global sales in 2020 was a whopping $483 billion. With an annual growth rate of 4.75%, total revenue is expected to top $716 billion by 2025.
How competitive is skincare market?
The United Kingdom skincare market is forecasted to reach USD 24.37 billion by 2024 growing at a CAGR of 5.2% during the forecast period (2019-2024). … A recent survey, held by Spa Creators, revealed that medical and health club spas account for 4% and 27% of the overall spa market.
What is the most in demand skin care product?
Face creams and moisturizers held the largest revenue share of over 40.0% in 2020 and are expected to maintain their lead over the forecast period. Face creams and moisturizers are among the most used items as these are frequently applied.
Is the skincare market growing?
The Global Cosmetic Skin Care Market is expected to grow by $ 50.04 bn during 2021-2025, progressing at a CAGR of 6.39% during the forecast period. … 04 bn during 2021-2025, progressing at a CAGR of 6.
Is skincare a saturated market?
It is estimated that by 2027, the global skincare market is expected to reach a market value of $185.5 billion. … That being said, and it may sound contradictory coming from someone who sells skincare, this market is officially over-saturated. There are too many skincare brands and products.
Is the skincare industry saturated?
The beauty industry is a saturated market, meaning a stand-out product or interesting story is no longer enough to succeed as consumers become increasingly demanding and more digitally-savvy than ever before. In order to break through, beauty brands today are placing a bigger focus on customer experience (CX).
How much is the skincare industry worth 2020?
How big is the skincare industry? The global skincare products market was worth $140.92 billion in 2020, and it’s predicted to grow at a CAGR of 4.69% by 2026.