Published on : Jul 29, 2016
With changing lifestyle and increase in population level, consumers are becoming more concerned regarding their skin conditions. Awareness regarding healthy lifestyle and beautiful skin has compelled manufacturers of beauty products to focus on product quality and development of new products to maintain their position in the market. The need for advanced skin care products to carb skin problems is expected to bolster the demand for skin care products globally.
Need for Advanced Skincare Products to Provide Innovative Opportunities to Manufacturers
The changing lifestyle of consumers due to busy schedule and lack of time has given rise to the demand for advanced skin care products. As consumers are very sensitive regarding their skin, manufacturers are coming up with various innovative products to meet their requirements. Busy schedules make it difficult for consumers to take up time taking skin care procedures. The population level in urban areas is also leaning consumers towards advanced skin products that will provide them with flawless skin. In this regard, manufacturers are innovating their products keeping in mind the needs of consumers and using better formulations for satisfying results.
The need for body care products has also bolstered the skincare product market growth as consumers are focusing personalized skincare products for varied skin types.
Growing Retail Sector to Bolster Sales of Skincare Products
With the increasing number of retail outlets and introduction of online shopping has helped manufacturers of skincare products to increase their sales. Skincare products are circulated through various channels such as supermarkets and hypermarkets, departmental stores, pharmacies, beauty product vendors, and online shopping outlets. The widespread of skincare products along various channels is expected to fuel the sales of skincare products. Manufacturers are also focused on adopting innovative business strategies to have a better reach in the market and retain their position. They are widening their distribution channel options to make their products easily available in the market.
The after effects of chemical skincare products resulting to various skin infections is likely to marginally impede the market growth for skincare products. To curb this manufacturers are coming up with organic skincare products.
Some of the prominent skincare companies are Unilever PLC, Avon Products Inc., Beiersdorf AG, and L’Oreal S.A.
Asia Pacific is projected to be the dominating region in the global skincare products market with a market worth US$44.1 bn in 2014, with Europe and North America in the trail. In Asia Pacific, China is the leading region for skincare products valued to reach US$6.3 bn by the end of 2021.