Published By : 11 Aug 2016 | Published By : QYRESEARCH
With the emergence of an aware consumer base, the need for skin care products is rapidly rising. Due to the hectic and exhausting lifestyle, consumers are unable to give long hours to skin and personal care treatments. The evolvement of new and innovative cosmetic products has led to spurge in the demand for cosmetic skin care products. Moreover, the rising demand for fairness and anti-aging products is likely to drive the growth of the global cosmetic skin care products market.
Innovation in Cosmetic Creams to Fuel Sales of Cosmetic Skin Care Products
Cosmetic skin care products comprise skin whitening, anti-aging, sensitive skin, dry skin, anti-acne, warts removal, anti-scars solutions, mole removal, multi-utility, and infant skin care products such as color correcting, daily defense creams, and beauty and balm. The innovation being made by manufacturers in these products is likely to raise its demand among various end-users. Manufacturers of cosmetic ski care products are focusing on expanding their reach in the market by implementing various innovative strategies in terms of product quality, packaging and marketing. As a result it is expected to augment the sales of cosmetic skin care products.
Increasing Cases of Side Effects from Usage of Cosmetic Skin Care Products to Hinder Market Growth
Several cases of allergies and infections arising from the use of cosmetic skin care products have into light in recently. As a result consumers are refraining themselves from the use of cosmetic skin care products and shifting their focus towards herbal and natural skin care products. Moreover, the abundance of chemicals in cosmetic skin care products makes it a risky product for various sensitive skin types. The mounting costs of the cosmetic skin care products are also likely to hamper their sales as consumers tilt towards inexpensive herbal products.
However, the rising demand for cosmetic treatments to remove wrinkles and other skin conditions is likely to maintain a stable growth of the global cosmetics skin care products market in the coming years.
Asia Pacific emerged as the largest region in terms of contribution to the global cosmetics skin care products market. The global cosmetics skin care products market is expected to expand at a CAGR of 5.1% between 2016 and 2024 with a market worth US$127.1 bn in 2015. The market is expected to touch a valuation of US$200 bn by 2024.