Published By : 09 May 2016 | Published By : QYRESEARCH
Skin care is a sensitive issue and something that most of the consumers are conscious about. Consumers prefer quality and standard skin care products to ensure safe and better results. Growing awareness regarding health life and rising desire for a beautiful personality is stimulating the skin care products market. The rising concern about the ill-effects of being exposed to pollution is driving the global skin care products market. The changing lifestyle and increase in the disposable income of the people across the globe is also aiding the market’s growth to a large extent. Owing to a busy lifestyle, people find it difficult to follow lengthy skin care routines, thus skin products are increasingly used by people to ensure quick and beautiful looking skin.
As consumers shift towards advance skin care products such as skin brightening cream, anti-aging, sun protection cream and nourishing body lotions, the global skin care products market is expected to expand. According to a report published by a market intelligent company, Transparency Market Research, the global skin care products market which was valued at US$110.69 bn in 2014 is estimated to reach US$155.44 bn by 2021. The market is expected to expand at a 4.9% CAGR from 2015 to 2021.
Consumers Prefer Organic Skin Care Products Due to Rising Awareness about the Effects of Harsh Chemicals
The global skin care products market is witnessing a trend of increased demand for organic and safe products from the consumers across the world. The rising awareness among people regarding the ill effects of using harsh chemicals on the skin is majorly driving the demand for organic skin care products. Thus, a large number of skin care products manufacturers are focusing on innovating their product range and going organic. Companies such as Weleda and Babor are focusing on upgrading the formulations and solutions to provide premium quality skin care products for the consumers.
Middle East and Africa to be the Fastest Growing Regional Segment in the Skin Care Products Market
The Middle East and Africa region is expected to be the fastest growing market for skin care products market and is projected to expand at an 8.6% CAGR from 2015 to 2021. South Africa will be the fastest growing nation in the MEA region due to the rising awareness among people regarding skin care and also the rising population of working people in the country.