According to a new market report published by Transparency Market Research titled “Cosmetic Skin Care Market (Product: Antioxidants, Exfoliants, Masks, Eyecare, Moisturizers, and Serums; Application: Topical and Surgical; Gender: Men and Women; Distribution Channel: Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027,” the global cosmetic skin care market is expected to reach a value of US$ 130.4 Bn by 2027.
In terms of revenue, the market is estimated to expand at a CAGR of 3.7% from 2019 to 2027. In terms of volume, the market stood at around 2,853.7 Million units in 2017. The cosmetic skin care market in Asia Pacific is expected to expand at a notable growth rate during the forecast period both in terms of value (US$ Bn) and volume (Million Units). The market in Asia Pacific witnessed considerable expansion due to increasing disposable income in Japan, China, and India.
The market dynamics of the global cosmetic skin care market are subject to factors primarily related to the preference for organic cosmetic skin care products and rising disposable incomes. In terms of gender, the women segment is anticipated to account for a major share and reach a value of US$ 112.45 Bn by 2027, expanding at a CAGR of 4.4% during the forecast period. However, stricter implementation of government regulations regarding the ingredients used in the cosmetic skin care products is a major factor restraining the market. Nevertheless, the market is anticipated to expand due to rising demand in Asia Pacific.
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In 2017, In terms of product, the moisturizer segment was valued at US$ 25.26 Bn. Moisturizers are used to treat dryness of the skin through the topical application of lotions and creams on the affected parts of the body. Based on application, the surgical cosmetic skin care segment accounted for a relatively minor share of the market, in terms of value as well as volume, as the adoption is not as high as the topical segment.
The surgical segment is anticipated to reach a value of US$ 29.71Bn by 2027, expanding at a CAGR of 3.6% during the forecast period. In terms of distribution channel, the online segment is anticipated to reach a value of US$ 20.15 Bn by 2027, expanding at a CAGR of 5.2% during the forecast period. The online segment is estimated to expand at a rapid pace during the forecast period, due to the benefits of using e-commerce websites, which offer ease of use and enable consumers to choose from a wide range of products.
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