Summary The global skincare sector was valued at $136. 9 billion in 2021 and is forecast to generate a CAGR of 4. 6% over 2021-2026, to reach $171. 6 billion by 2026. In volume terms, the sector is predicted to grow from 17.
New York, Aug. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Skincare Market Size, Competitive Landscape, Regional Analysis, Distribution Channel, Packaging Formats and Forecast, 2016-2026” – https://www.reportlinker.com/p06312889/?utm_source=GNW
9 billion units in 2021 to 19.9 billion units in 2026, at a CAGR of 2.2%. Asia-Pacific represented the largest region for the global skincare sector in 2021, with a value share of 56.1%, followed by the Americas and Western Europe, which accounted for 19.3% and 18% shares, respectively. Among all the regions, Eastern Europe is forecast to record the highest growth rates at 6.6%, during 2021-2026. In 2021, the facial care category held the highest value and volume shares with 81.4% and 70.4%, respectively. The facial care category is also set to be the fastest-growing category, with a projected value CAGR of 5.2%, during 2021-2026. In the global skincare market, the top five companies accounted for a combined value share of 29.4% in 2021. L’Oréal S.A. was the leading company with a value share of 10.6%, followed by Beiersdorf Ag (5.1%), Unilever (5%), Procter & Gamble (4.4%), and The Estée Lauder Companies Inc. (4.3%). In 2021, L’Oréal S.A. led the companies list in all the regions except Middle East & Africa where, Beiersdorf Ag held the largest market share.
Consumers today have become highly selective while purchasing skincare products, owing to health and environment considerations.Subsequently, there is a growing desire for skincare products with claims like, cruelty-free, sustainable, or chemical-free.
Encouraged by this, manufacturers are launching products with claims of natural/organic, sustainable, and free from artificial preservatives.With the growing awareness about harmful effects of chemical ingredients, consumers are becoming very cautious and are paying higher attention towards the ingredients used in skincare products.
They are constantly seeking products with natural, organic, and chemical-free ingredients. Manufacturers, as a result, are increasingly omitting synthetic ingredients from their formulations in order to increase their products’ natural appeal.
This report brings together multiple data sources to provide a comprehensive overview of the global skincare sector.
It includes analysis on the following –
– Sector overview: Provides an overview of the current sector scenario and the future outlook in terms of ingredients, product claims, labeling, and packaging. The analysis also covers overviews across five regions-Asia-Pacific, Middle East & Africa, the Americas, Western Europe, and Eastern Europe-highlighting sector sizes, growth factors, latest developments, and future inhibitors.
– Change in consumption: Provides a summary of any shift in the consumption of skincare as compared with other major food sectors such as bakery & cereals, meat, and dairy & soy food during 2016-2026 at global and regional levels.
– High-potential countries: Provides risk-reward analysis of the top 10 high-potential countries globally based on market assessment, economic development, governance indicators,
socio-demographic trends, and technological infrastructure.
– Country and regional analysis: Provides deep-dive analysis of 10 high-potential countries covering value growth during 2021-2026, key challenges, consumer demographics, and key trends. It also includes regional analysis covering the future outlook for the region.
– Competitive landscape: Provides an overview of leading companies and brands at a global and a regional level, besides analyzing product profile, country-level presence, market share, and the growth of private labels in each region.
– Key distribution channels: Provides analysis on the leading distribution channels in the global skincare sector in 2021. It covers hypermarkets & supermarkets, convenience stores, e-retailers, food & drinks specialists, “dollar stores”, variety stores & general merchandise retailers, cash & carries & warehouse clubs, department stores, and others.
– Preferred packaging formats*: The report provides percentage share (in 2021) and growth analysis (during 2016-2026) for various packaging materials, types, closures, and outer types based on volume sales (by pack units) of skincare products.
– Provides an overview of current industry scenario regarding the future outlook in terms of ingredients, product claims, labeling, and packaging. The analysis also covers regional overview across five regions – Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe – highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.
Reasons to Buy
– Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region
– The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances
– The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
– To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates
Read the full report: https://www.reportlinker.com/p06312889/?utm_source=GNW
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