Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Skin Care Products Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global skincare products market is projected to experience a noteworthy expansion from $148.97 billion in 2023 to $160.94 billion in 2024, driven by a compound annual growth rate (CAGR) of 8.0%. A newly published market research report, now available on our website, offers an in-depth analysis of the industry's current and future market scenarios, underpinning the factors that contribute to this vigorous growth.
Recent market research indicates the skincare products segment is benefiting from a myriad of factors, including innovative product launches tailored to a diverse customer base, the leveraging of artificial intelligence for personalized recommendations, and the rising prevalence of skin diseases.
Key Highlights from the Report:
- Increasing interest in anti-aging and skin health products, particularly among the aging population.
- Growth in the natural and organic skincare segment, propelled by consumer demand for clean, sustainable products.
- Technological advancements in skincare apps and Artificial Intelligence (AI) for personalized skincare solutions.
- Projected market growth to $220.3 billion by 2028 at a consistent CAGR of 8.2%.
- Asia-Pacific's dominance in the market, with the fastest growth anticipated over the forecast period.
This market research report also highlights the strategic use of AI across the skincare industry, providing a competitive advantage to those brands integrating AI-powered analyses and personalized product offerings.
Trends influencing market trajectory include:
- Development of DNA-based skincare, offering unprecedented personalization.
- Adoption of eco-conscious, refillable, and zero-waste product packaging.
- At-home beauty tech devices fostering advanced skincare regimens.
- Production of microbiome-friendly formulas that support skin health.
Companies noted within the report have been instrumental in shaping the industry's direction, introducing innovative technology such as IoT-enabled skincare devices and AI-led diagnostic tools to enhance customer experiences and outcomes. Moreover, significant mergers and acquisitions have taken place, allowing key industry players to grow their foothold in the market and continue to drive innovation.
Groundbreaking Features Fueling Market Growth:
The integration of AI is a significant trend, with companies deploying advanced tools like the 'Skinfie Lab', an AI-driven skin analysis tool. Additionally, the unveiling of intelligent skincare treatment devices like the ageLOC LumiSpa iO system, further emphasizes the market's inclination towards interactive, tech-enhanced skincare solutions.
The report analyzes robust market dynamics across the globe, with a focus on regions and countries expected to lead market expansion. Offering a competitive edge to stakeholders, the report provides key insights essential to navigating the flourishing skincare products landscape.
A selection of companies mentioned in this report includes
- LOreal S.A.
- Beiersdorf AG
- Shiseido Co. Ltd.
- Procter & Gamble
- Unilever
- Johnson & Johnson Inc.
- Avon Products Inc.
- Coty Inc.
- Colgate-Palmolive Company
- Revlon
- The Estée Lauder Companies Inc.
- Himalaya Wellness Company
- Lotus Herbals pvt Ltd.
- Neutrogena Corporation
- Olay
- Barbara Sturm Molecular Cosmetics GmBH
- Renée Rouleau
- Kao Corporation
- CeraVe
- La Roche-Posay
- Aveeno
- Vichy
- Cetaphil
- Eucerin
- Nivea
- Garnier
- LVMH
For more information about this report visit https://www.researchandmarkets.com/r/gqconi
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