Skincare products are personal care products used directly to the skin to preserve and nurture it. These products range from regular facial wash, cleansers, moisturizers, lotions, masks, serums, sunscreens, gels, and others that both men and women use. These skincare products are available in a variety of categories and types, including face care, body care, bath & shower, and perfumes, among others. Skincare products are becoming increasingly popular among men and women to achieve nourished, moisturized skin, boosting the market growth.
Growing Consumption of Antiaging Products is Driving the Skincare Products Market
The growing consciousness among both the young and old consumers regarding their physical appearance has fostered the demand for anti-aging skincare products. Rising awareness among consumers about age-related skin problems such as fine lines, wrinkles, and dullness of skin, coupled with an increased susceptibility to spend on products that help protect the skin, is expected to drive the market demand. Antiaging creams and lotions play an essential role in an individual’s life by assisting in the preservation of a youthful glow and moisturization. Some specially formulated products help the facial skin retain moisture, firmness, and elasticity, thus preventing wrinkles and lines. Historically, people are highly concerned about their facial appearance and do not shy away to spend exorbitantly on such products, which is a key factor driving the segment.
L’ORéAL Groupe; Beiersdorf; Shiseido Co., Ltd.; Procter and Gamble; Unilever; Himalaya Wellness Company; Lotus Herbals; VLCC Wellness; Avon Products; Johnson and Johnson Services, Inc. among others, are some of the key players operating in the global skincare products market. These players are increasingly adopting strategies such as mergers and acquisitions and research and development to increase their geographical presence and consumer base globally.
