Global Professional Skincare Market 2018-2022 | Increased Demand for Organic Skincare Products to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Sep 27, 2018-- analysts forecast the global professional skincare market to grow at a CAGR of close to 7% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global professional skincare market for the period 2018-2022. (Graphic: Business Wire)
The increased demand for organic skincare products is one of the major trends being witnessed in the . Increasing awareness about skin-related problems caused by synthetic skincare products has pushed up the demand for natural and organic skin care products across the world. Regular skincare synthetic products can cause skin-related issues such as skin irritation, skin allergies, nerve damages, and dark marks. Organic skincare products are free from harmful ingredients such as petrochemicals, sulfates, and parabens and are made from natural and organic ingredients such as plant extracts, natural oils, and other natural ingredients. This product line extension by vendors in the global professional skincare market also helps them in differentiating their offerings from other competitors. Therefore, it is expected that the global professional skincare market will have a positive outlook over the next few years.
According to Technavio analysts, one of the key factors contributing to the growth of the global professional skincare market is the product innovation and product line extension leading to product premiumization:
Global professional skincare market: product innovation and product line extension leading to product premiumization
Some vendors operating in the global skincare market offer products that provide innovative, professional treatments, and products to customers. Such products are priced higher than traditional skincare products. With growing unhealthy lifestyles and environmental conditions that are unsuitable for skin health, several skin-related issues such as aging spots, acne, and pigmentation are emerging. To heal such concerns, products being offered must have an adequate and right combination of superior quality ingredients, which further leads to product premiumization. Therefore, higher product premiumization and a product-line extension coupled with growing customer expenditure on beauty products will further strengthen value sales in the global professional skincare market
According to a senior analyst at Technavio for research on consumer services and personal care, “Vendors operating in the global professional skincare market are constantly engaged in research and development, and innovation. This is due to growing competition and growing customer demand for innovative products that provide optimal usage. Customers also look for skincare products that can address multiple skin concerns in minimal time. To meet such evolving customer needs, vendors regularly innovate their product range and increase their product line. In addition, with growing purchasing power and increasing disposable income, the average spend on skin care products is gradually increasing which is propelling the demand for premium skincare products.”
Global professional skincare market: Segmentation analysis
The global professional skincare market research report provides market segmentation by product (anti-aging products, pigmentation products, dehydration products, acne control products, anti-cellulite products, others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC region held the largest share of the market in 2017, accounting for close to 44% share, followed by the Americas and EMEA respectively. During the forecast period, the Americas is expected to register a higher incremental growth than EMEA.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 09/27/2018 04:30 PM/DISC: 09/27/2018 04:30 PM