Global Cosmetic Skin Care Market 2019-2023 | Presence of Premium Brands Drives Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 8, 2019--The global cosmetic skin care market research report by predicts the market to post a CAGR of approximately 6% during the period 2019-2023.
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Technavio predicts the global cosmetic skin care market to post a CAGR of approximately 6% by 2023. (Graphic: Business Wire)
A key driver for the global cosmetic skin care market is the presence of premium brands. The increasing popularity and presence of premium cosmetic skincare brands have led to the growth of the market in recent times. Affluent consumers are continually looking to update and advance their knowledge about skin care and thereby, are receptive to learning and engaging with luxury and premium brands online. These affluent consumers have been influencing premium skincare brands to build up their digital appeal and credibility to boost their market share.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing preference for organic cosmetics and cosmeceuticals as one of the key trends in the global cosmetic skin care market:
Global cosmetic skin care market: Growing preference for organic cosmetics and cosmeceuticals
The consumers are gradually shifting from chemical-based cosmetics to organic or chemical-free cosmetics. The chemical-free cosmetics and cosmeceuticals are free from toxic compounds that are harsh on the skin or contain biologically active compounds, which have medicinal effects on the skin and therefore, are gaining popularity among consumers.
“Natural raw materials such as neem extracts, soybean, fish oil, aloe vera, and guar gum are being used to manufacture organic skin products. Fish oil is used in cosmetic skin care products because of its stabilizing and preservative properties. The organic cosmetics also include natural fragrances,” says a senior research analyst at Technavio.
Global cosmetic skin care market: Segmentation analysis
This cosmetic skin care market analysis report segments the market by product (facial skin care, body care, and others) and geography (the Americas, APAC, and EMEA).
The facial skin care segment held the largest cosmetic skincare market share in 2018, accounting for over 59% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with approximately 40% of the market share, followed by EMEA and APAC respectively. The growth of the cosmetic skin care market in the Americas can be attributed to the presence of several key vendors in the region.
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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CONTACT: Technavio Research
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KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES RETAIL COSMETICS
SOURCE: Technavio Research
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