The rising consumer demand for green and clean label products has also influenced the product development and innovation processes in the global skin care products market. More and more manufacturers in the global skin care products market are constantly focusing on expanding their ranges of ‘natural’ and ‘organic’ skin care products that do not consist any chemical or synthetic ingredients. This trend is providing various lucrative skin care products market opportunities for the industry players and participants.
Furthermore, the rising awareness about animal testing and increasing consumer backlash has also created a new marketspace for ‘animal cruelty-free’ products, which are more popular in woke and aware millennial populations in developed economies. These skincare industry trends are further bolstered by the increasing demand for various personalized skin care products in developed economies in regions such as North America as well as Europe.
The constantly rising demand for sunscreens, body lotions, and face creams across the globe, coupled with the increase in consumer preference for shopping cosmetic and skin care products from various emerging e-commerce platforms and online only retail brands is driving the growth in the medial skin care products market.
Rising Demand for Sunscreen Motivates Higher Demand in Skin Care Products Market
According to the organic skin care market analysis, the widespread awareness pertaining to the benefits offered by methodical and consistent usage of sunscreens. Doctors around the world are recommending and emphasizing on the usage of sunscreen in order to avoid the risk of skin cancer and keep the skin light and nourished.
Furthermore, apart from sunscreen, the increasing levels of global pollution are also driving the demand for effective anti-pollution skin care products. This trend is anticipated to aid in the expansion of the skin care market size in coming years. Moisturizers, sun screens, and face creams are amongst the top selling products in the global skin care products market. Additionally, the demand for anti-aging products, such as eye creams, face creams, anti-wrinkle creams, and skin serums remain steady and high in the global skin care products market.
While the COVID-19 pandemic created various problems pertaining to the streamlined operations of the value chains in the global skin care products market, the increasing demand for at-home skin care products bolstered the growth within the industry. The pandemic stimulated high consumer interest in at-home skin care treatments. Their rising popularity also compelled various emerging as well as well-trenched brands to introduce new range of products that can help repair the skin after easy application by the consumer in their homes. This trend was also bolstered by the dissatisfaction consumers faced over the mild or insufficient results achieved through the usage of over-the-counter runoff the mill skin care products.
Players in Skin Care Products Market Focused on Expanding their Product Portfolios
The landscape of the global skin care products market is filled with various renowned and multinational manufacturers and players, such as Beiersdorf AG, Coty, Inc., Johnson & Johnson, Procter & Gamble Company, Unilever PLC, Avon Co., Colgate Palmolive, Estee Lauder Companies, Inc., Kao Corporation, and Shiseido Co., Ltd., among others.
Constant research and development undertaken to increase the panoply of their product inventories is one of the most prominent growth strategies adopted by the leading manufacturers and players in the global skin care products market. Other corporate growth strategies employed by the participants in the global skin care products market include strategic collaborations as well as partnerships.
For example, a new brand called ‘Only What’s Needed or O.W.N.’ was launched by the Beiersdorf AG in 2021. This brand prides itself on using only certain specially formulated ingredients that target individualized skin care needs.
Furthermore, a new range of skin care products was launched by the Procter & Gamble in June of 2021, under the brand name ‘GoodSkin MD’. The products consist of a hypoallergenic that omits the inclusion of some of the most common irritants that are traditionally used in skin care products, including synthetic fragrances and synthetic dyes as well as parabens.