The skincare industry is worth approximately $180 billion globally.
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According to market research firm Grand View Research, the global skincare industry was valued at $134.8 billion in 2018 and is projected to reach $180 billion by 2024, growing at a compound annual growth rate of 4.4%. This growth is fueled by an increasing awareness about the importance of skincare, rising disposable income, and the availability of a wide range of skincare products.
In the words of beauty mogul and reality TV star Kylie Jenner, “I always say, ‘everyone’s skin is different,’ so everyone needs something different to help them.” This sentiment is reflected in the diverse range of products available in the skincare industry, from anti-aging creams to acne treatments to natural and organic options.
Some interesting facts on the topic include:
The Asia-Pacific region is the largest skincare market, with Japan, China, and South Korea leading the way.
In the United States, the anti-aging segment is the largest category within the skincare industry.
Men’s skincare is a growing market, with products specifically designed for male skin becoming more popular.
According to a survey by Statista, the most popular skincare brand in the world is Nivea, followed by L’Oreal and Olay.
Skincare trends such as clean beauty, vegan formulations, and personalized routines are gaining traction among consumers.
Here is a table showing the top 10 countries in the global skincare market by revenue, according to Euromonitor International:
Country
Skincare Revenue (in billions USD)
Japan
22.9
United States
20.8
China
16.9
South Korea
13.1
Germany
4.7
France
4.4
United Kingdom
3.1
Brazil
2.5
Italy
2.4
Spain
2.2
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The skincare industry is currently experiencing a period of rapid growth thanks to increased consumer education, social media influencers, and the influence of overseas markets. Indie brands like Summer Fridays are leveraging social media influencers to establish a devoted following. Influencers are seen as authentic and have a major impact on purchasing decisions as consumers become more educated and seek out a good skincare routine as a base for natural makeup looks. As a result, the skincare industry is evolving and large companies have a lot to learn from independent players.
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Pune, India, (GLOBE NEWSWIRE) — The global skincare industry was valued at USD 98.83 billion in 2020 and is projected to grow from USD 100.13 billion in 2021 to USD 145.82 billion in 2028, exhibiting a CAGR of 5.52% during the forecast period.
USD 133.90 billion
Fortune Business Insights says that the global skincare industry was USD 133.90 billion in 2018 and is projected to reach USD 200.25 billion by 2026.
Base Year: 2020
Estimated Year: 2021
Study Period: 2017-2028
The global skin care products market size was valued at USD 130.50 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.
Also, individuals are curious
How much is the skincare industry worth in the US?
Answer: Overview: global and U.S. As of 2020, the world’s most lucrative skin care market is the U.S. market with a revenue of approximately 17.6 billion U.S. dollars.
How much is the skin care market worth?
The response is: The global skincare market size was valued at $146.7 billion in 2021, and is projected to reach $273.3 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
How much is the skincare industry worth 2023?
As a response to this: Revenue in the Skin Care segment amounts to US$21.09bn in 2023. The market is expected to grow annually by 3.42% (CAGR 2023-2027). In global comparison, most revenue is generated in the United States (US$21,090.00m in 2023). In relation to total population figures, per person revenues of US$62.64 are generated in 2023.
How much money is in the skincare industry?
In reply to that: The beauty industry generates over $100 billion in revenue worldwide.
What is the value of the skin care market?
Answer will be: The high investments in the development of skin care products with organic and safe ingredients will emerge in favor of market growth. The market was worth USD 133.90 billion in 2018 and will exhibit a CAGR of 5.24% during the forecast period, 2019-2026. Skincare products are gaining rapid popularity across the world.
How much is the beauty industry worth?
Answer: Conservative estimates valued the global beauty industry at over $300 billion in 2018, according to a report from Trefis, a financial research and analysis firm. The global skincare market was valued at nearly $135 billion in 2018, increasing nearly 60% in the past 10 years.
What is the global skincare market forecast for 2026?
Response will be: Fortune Business Insights says that the global skincare industry was USD 133.90 billion in 2018 and is projected to reach USD 200.25 billion by 2026. At what CAGR is the skincare market projected to grow in the forecast period (2019-2026)?
How much is the global cosmetics market worth in 2020?
The Global Cosmetics Market was valued at USD 307.69 Billion in the year 2020. The huge demand for cosmetics is influenced by awareness among people about the benefits of cosmetics for their skin and hair which uplifted their average expenditure on cosmetics.
How much is the skin care products market worth?
Skin Care Products Market Worth $183.03 Billion By 2025 | CAGR: 4.4% March 2019 | Report Format: Electronic (PDF)
How much is the beauty industry worth?
The response is: Conservative estimates valued the global beauty industry at over $300 billion in 2018, according to a report from Trefis, a financial research and analysis firm. The global skincare market was valued at nearly $135 billion in 2018, increasing nearly 60% in the past 10 years.
What was the global skincare market size in 2020?
The global skincare market size was USD 98.83 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with skin nourishment products witnessing a negative demand shock across all regions amid the pandemic.
What is the growth rate of the skin care industry?
In reply to that: It is expected to expand at a CAGR of 4.8% from 2021 to 2028. Rising concerns regarding skin problems are driving the industry for skin care products. The growing demand for concern-specific skin care products such as face creams, body lotions, shaving lotions and creams, and face sunscreens is likely to fuel the overall demand.
Interesting on the topic
Topic fact:Skincare is the act of caring for your body’s largest organ, your skin. Some people look at skincare through a medical lens, while others only look at it for cosmetic reasons.Because everyone’s skin reacts differently to the environment and substances, there will never be a one-size-fits-all skincare solution.
Interesting fact:Skincare is a practise that has been around for many millennia. The first documented use of skincare is somewhere around 3000 BC with the Ancient Egyptians.The first use of cosmetics and therefore skincare can be traced back to Ancient Egypt (2000-3000 BC).
Did you know that,The beginning of the century also saw an increased popularity among foundational skin care items, such as astringents, moisturizers, soaps, and night masks.Come the twenties, pale complexions had become passé.
