NEW YORK, March 1, 2021 /PRNewswire/ — Technavio has been monitoring the global cosmetic skin care market since 2018 and the market is poised to grow by USD 38.03 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. Request free sample pages
Read the 120-page report with TOC on “Cosmetic Skin Care Market Analysis Report by Product (Face skincare products, Body skincare products, and Others), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024″.
The market is driven by the presence of premium brands. In addition, the increasing preference for organic cosmetics and cosmeceuticals is anticipated to boost the growth of the cosmetic skin care market.
The increasing consumers’ spend on premium cosmetic care products has been encouraging market vendors to focus on increasing the availability of their premium products. For instance, LVMH launched its specialty store, Sephora, to increase the availability of its premium skincare cosmetics to its customers. Premium brands are also focusing on expanding their customer base by introducing innovative products such as serums and retinol creams that address skin problems effectively. For example, companies such as L’Oréal and The Estée Lauder Companies are offering facial treatment and anti-aging skin care products along with other skin care products to drive brand equity and sales. Therefore, the increasing popularity and presence of premium cosmetic skincare brands are expected to fuel the growth of the market during the forecast period.
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Major Five Cosmetic Skin Care Market Companies:
Beiersdorf AG operates its business through segments such as Consumer and Tesa. The company offers a wide range of cosmetic skin care products under various brands, including La Prairie, Eucerin, and NIVEA.
CHANEL Ltd. operates its business through segments such as Fragrance and Beauty, Fashion, Watches and Fine Jewelry. The company offers a premium range of moisturizers, serums, and night creams.
Groupe Clarins operates its business through segments such as Clarins, My Blend, Mugler, and Azzaro. The company offers various cosmetic skin care products such as serums, face moisturizers, and creams.
Johnson & Johnson Services Inc.
Johnson & Johnson Services Inc. operates its business through segments such as Consumer, Pharmaceutical, and Medical Devices. The company offers a wide range of cosmetic skin care products. Some of its key offerings include MORNING BURST Facial Cleanser, CLEAN & CLEAR Daily Pore Cleanser, and Neutrogena Hydro Boost Water Gel.
L’Oreal SA operates its business through segments such as Skincare, Makeup, Haircare, Hygiene products, and Fragrances. The company offers a wide range of cosmetic skin care products. Some of its key offerings include RevitaLift Anti Wrinkle Firming Cream SPF 25, PURE CLAY CLEANSING MASK FOR DULL SKIN, and MICELLAR WATER COMPLETE CLEANSER.
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Technavio has segmented the Cosmetic Skin Care market based on the product and region.
Cosmetic Skin Care Product Outlook (Revenue, USD Billion, 2020 – 2024)
- Face skincare products
- Body skincare products
Cosmetic Skin Care Regional Outlook (Revenue, USD Billion, 2020 – 2024)
- North America
- South America
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. Request a free sample report
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