03.03.17
While Color Cosmetics continues to capture attention regarding market strength, skin care has not been left behind. A new report from Allied Market Research, titled, “Skin Care Products Market by Type and Geography: Global Opportunity Analysis and Industry Forecast, 2014-2022,” projects that the global skin care products market is poised to reach $179 billion by 2022, growing at a CAGR of 4.7% from 2016 to 2022. In 2015, Asia-Pacific dominated the market and contributed more than 40% of the overall market revenue, followed by Europe.
The predicted growth during the period is attributed to a rise in awareness around skin care and use of advanced products, rising disposable income and urbanization, and the increasing popularity of organic skin care products.
The face cream segment, with anti-aging and skin brightening creams, accounted for nearly 75% of the market revenue. The body care lotion segment held 41% market share. Sun protection products are expected to show the fastest growth.
Asia-Pacific contributed the maximum revenue share in 2015, and is expected to maintain its lead throughout the forecast period.
The predicted growth during the period is attributed to a rise in awareness around skin care and use of advanced products, rising disposable income and urbanization, and the increasing popularity of organic skin care products.
The face cream segment, with anti-aging and skin brightening creams, accounted for nearly 75% of the market revenue. The body care lotion segment held 41% market share. Sun protection products are expected to show the fastest growth.
Asia-Pacific contributed the maximum revenue share in 2015, and is expected to maintain its lead throughout the forecast period.
