With a valuation of over US$100 billion, the global market for skin care products is an mportant segment of the beauty care industry. Origin of the
industry for skincare traces back to the ancient times when concoctions made from plants and fruits were used as natural skin care remedies. The skincare
market had a modest beginning: it featured soaps made with natural oils and salts and deodorants/scents made from floral and fruit essences. Slowly and
steadily, the market transformed into a highly sophisticated industry that now comprises a variety of chemicals, artificial scents, and preservatives for
making skincare products more effective.
The integration of fields such as biotechnology and nanotechnology has made the field of skin care even more complex, yet it remains an industry that
influences masses from different nationalities and all sexes from around the world. With a variety of skin cleansing products, from multipurpose soaps, to
skin-tone-specific face washes, moisturizers, skin lightening products, anti-aging products, and a multitude of other products, the global market for
skincare products has become gigantic over the years, both, in terms of the availability a variety of products and the type of skin conditions targeted.
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Asia Pacific: the Chief Market Driver
The global skincare industry is registering growth at a steep pace over last few decades. Growth of the industry has been particularly influenced by the
Asia Pacific market: in current times, the global skincare industry generates over half of its revenues from the Asia Pacific regional market. The high
population ratio of this region is a big driving factor behind enormous sales of skincare products. The factor of improved economic conditions of countries
such as India and China in the region has also heavily contributed to the increased sales of a variety of skin care products in the past few years.
The Asia Pacific market is expected to continue its dominance in the global skincare market over the years to come, mainly owing to factors such as
improving economic conditions of emerging countries in the region, rising geriatric population (driving the need for anti-aging skincare solutions), and
high population base.
Other trending factors that drive the global market for skincare products include:
Rising Demand for Natural/organic Skin Care Products in Western Countries: In countries from North America and Europe, an increasing demand has been
observed for skincare products made from organic ingredients. Rising awareness regarding shortcomings of chemical-based concoctions and a shift towards
organic lifestyle are the major factors driving this trend in these regions.
Anti-aging Skincare Products for Aging Population of the Globe: The rising population of aging people across the globe is leading to an increased demand
for anti-aging skincare products.
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Sunscreen products in Latin America: The global skincare market has observed a high demand for a variety of skincare products from Latin America and Brazil
in the past years. Skincare market in these regions has more than doubled since 2006 owing to rising demand for easily accessible luxury skincare products
such as face masks, skin hydration products, and sun screen products.
Demand for Skin Brightening Products in Middle East and Africa: Demand for skin brightening products from the Middle East and African regions has also seen
a steady rise in the past few years, creating a lucrative growth opportunity for the global market.