Global Skin Care Products Market: $165.9Bn Opportunity Analysis
Skin is one of the organs that receive the most damage owing to the exposure to external factors such as ultraviolet (UV) rays and pollution. Consequently, there has been an increase in the inclination among the masses towards engaging in a regular skin care regime, thus making it an integral part of personal well-being. This has led to the introduction of diversified products containing various chemical and herbal elements, aiming at the overall enhancement and maintenance of healthy skin.
The global skin care products market was worth US$ 128.9 Billion in 2018. Looking forward, the market is projected to reach a value of US$ 165.9 Billion by 2024, registering a CAGR of around 4% during 2019-2024 – states the report “Skin Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, added to ResearchAndMarkets.com
Urban regions, in particular, have been a witness to increasing consumers’ inclination toward various skin care products owing to rising disposable income, aggressive promotional activities, and launch of innovative products by manufacturers. Rising awareness about both skin ailments and available treatments is propelling consumers to start using skin care products quite early, thus aiding market growth. The market is further driven by an increasing number of women preferring anti-aging products which form a crucial segment of the skin care products market.