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Skin Care Products Market to Reach $177 Billion by 2024

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The global skin care products market is projected to reach $177.15 billion by 2024, according to Grand View Research

The market research company has published its "Skin Care Products Market Size, Share & Trends Analysis Report By Product [Face Cream (Skin Brightening, Anti-Ageing, Sun Protection), Body Lotion (Mass Body Care, Premium Body Care)], And Segment Forecasts, 2018 - 2024" report, in which it explains that market growth is due in part to the promoting of organic materials in skin care products. 

Key Findings from the report include: 

  • The global skin care products market is anticipated to reach $177.15 billion by 2024, growing at a CAGR of 4.7% from 2016 to 2024;
  • In terms of revenue, the face cream segment is projected to ascend at a CAGR of 5.0% over the forecast period;
  • The anti-aging cream product type segment dominated the global market with a share of over 39.6% in 2015;
  • The U.S. market is anticipated to exceed $19.7 billion by 2024;
  • Europe is projected to witness a steady growth rate of 4.1% over the next seven years, owing to the presence of a number of regulations that are propelling the demand for natural skin care products;
  • Asian countries such as India and China are expected to observe a remarkable growth over the forecast years;
  • The market for skin care product is highly competitive with the presence of a number of multinational companies with vast product portfolios; and
  • Some of the key companies present in the market are L'Oréal S.A., Unilever PLC, Beiersdorf AG, Colgate Palmolive, Estee Lauder, Johnson & Johnson, and Avon Product Inc.

For the full report, please visit www.grandviewresearch.com