Published on : Jan 14, 2016
The skin care industry has done fairly well for itself in the past few decades. With incredible amount of research and development and technological advancements, the global skin care industry is estimated to measure more than 100 billion US dollars by the end of 2018. The much-anticipated growth in this market will be a result of the increasing disposable income, growing awareness amongst consumers regarding personal appearance, aging, and a wide range of products. The skin care products manufacturers are currently making products that cater to facial care, hand care, body care, depilatories, and sun care products. This industry also includes products that used by consumers for treating various skin conditions.
The demand for skin products is expected to be high in the coming years as the manufacturers are delivering product innovations with anti-aging, sun care, and anti-wrinkling products. The growing awareness about skin care products, their affordability, and the changing perception towards beauty or physical appearances are all expected to contribute positively to the success of the global skin care industry. This industry is also expected to add generously to its revenues with growing share of luxury skin care products in the global market. The overall good quality of skin care products at an affordable price is expected to help the skin care market maintain its position in the global economy.
Amongst all the regions, Asia Pacific is expected to lead the global skin care market in the coming five years, with Europe following its lead. The facial care segment will emerge as a winner amongst all. A noteworthy trend in the global skin care market is the emergence of organic personal care products. The increasing preference for safe skin products is expected to propel this segment by leaps and bounds in the coming years. Furthermore, the need to use environmentally-sustainable products will also augment the organic skin care products demand. Top players such as The Body Shop are expected to expand their product portfolio of organic products in the near future, thereby complementing this market.