0 items USD 0.00Leading Skincare Companies and Global Market Situation
The last year was filled with uncertainties, the skincare market is strongly impacted by the COVID-19 pandemic. The entire skincare market significantly declined and, as a consequence, the effect on revenues of market leaders was dented in the last half of 2020.
Leading Skincare Companies in the World
Skincare Market Analysis
The global skincare market had total revenues of USD 130.3 bn in 2019, representing a compound annual growth rate (CAGR) of 4.6% between 2015 and 2019. Market consumption volume increased with a CAGR of 2.3% between 2015 and 2019, to reach a total of 17,987 million units in 2019.
APAC Skincare market emerges as largest Skincare market globally, expected to reach USD 95.7 billion in 2024.
Improving living standards and rising health consciousness among consumers are driving demand for skin care products in the Asia-Pacific (APAC) region. As a result, the skincare sector in the region is forecast to grow from USD 71.5 bn in 2019 to USD 95.7 bn in 2024, at a compound annual growth rate (CAGR) of 6%. The facial care category led the sector in value terms while the hand care category is forecast to register the highest value CAGR at 6.3% over 2019-2024.
Japan was the largest market in the skincare sector in the APAC region, in both value and volume terms in 2019, while South Korea is forecast to register the highest growth in value and volume terms during 2019–2024.
Growing popularity of anti-aging products, rising focus on products with traditional ingredients and increasing demand for anti-pollution skincare products are set to drive the market in future.
Key Skin Crae Markets in Asia Pacific
Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global skincare market. Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global skincare market.
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