Albany, New York, November 07, 2016: Market Research Reports Search Engine (MRRSE) has announced the addition of a new market research report to its report repository titled, “Cosmetic Skin Care Market – Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2016-2024.”
The report presents an analysis of the growth trajectory of the global cosmetic skin care market along with the predominant trends. It also presents an assessment of the dynamics that are likely to drive or inhibit the growth of the market during the forecast period. The strategies, shares, and products of the key players have also been highlighted in the report. According to the report, the global cosmetic skin care market is likely to expand at a CAGR of 5.1% from 2016 to 2024. In 2015, the market was worth US$127.1 bn and is estimated to rise to a valuation of US$200 bn by the end of 2024.
Multi-utility and Anti-aging Skin Care Products to Grow Popular among Consumers
Owing to the growing geriatric population across the world, the demand for anti-aging skin care products has intensified. To combat several signs of aging, a sizeable amount of consumers are shifting towards the anti-aging products. The demand for anti-aging products in countries such as the U.S., Italy, Japan, Germany, and China is likely to increase over the forthcoming years due to the significantly increasing number of people of aged 65 years and above. The increasing sales of anti-aging skin care products can also be credited to the mounting use of these products among women aged 30 and above.
Cosmetic skin care products are present in various forms in the market such as mole removal, anti-scar solutions, infant skin care, warts removal, dry skin, anti-acne, sensitive skin, skin whitening, anti-aging, and multi utility skin care products such as daily defense solutions and creams, color correcting, and balm. Among these, the multi-utility skin care product segment led the market in terms of growth and is expected to further gain prominence over the next couple of years. The growing consumption of these products can be attributed to their diversified use.
Market in Asia Pacific to Face Stiff Competition from the Middle East and Africa
Geographically, the global cosmetic skin care market is classified into the Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. At present, Asia Pacific is leading the market in terms of consumption of cosmetic skin care products but it is expected that the Middle East and Africa will witness strong growth and give stiff competition to Asia Pacific. The demand for cosmetic skin care products is extensively high in countries in Asia Pacific such as India and China. This growth can be attributed to the rising standard of living of consumers, increasing purchasing power, and the growing awareness about the benefits of using cosmetic skin care products in rural and semi-urban areas.
Browse Full Global Cosmetic Skin Care market Report with TOC:http://www.mrrse.com/cosmetic-skin-care-market
Some of the prominent companies operating in the market are The Body Shop International PLC., Kao Corporation, Johnson & Johnson, The Estee Lauder Companies Inc., Avon Products Inc., Beiersdorf AG, Procter & Gamble, Unilever PLC, and L’Oreal S.A.
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