USD 130.5 billion
Report ID: SQSG30L2041 | Region: Global | Published Date: September, 2022 | Pages: 260 | Tables: 152 | Figures: 78
Professional Skincare Market size was valued at USD 130.5 billion in 2021 and is poised to grow from USD 136.35 billion in 2022 to USD 196.2 billion by 2030, growing at a CAGR of 4.6% in the forecast period (2023-2030).
The skincare sector is regarded as one of the world's emerging markets. Given that the skin is a vital organ of the human body and is exposed to the outside environment, there is an increasing level of awareness regarding the need of maintaining good skin. Professional skincare products are more effective because they are designed specifically for different skin types and conditions. To meet the skin's unique needs, professional skin care products are used. Numerous skin issues, such as burns, scars, patchy skin, itchy skin, dry skin, and other skin ailments are addressed by these products. In addition, the effects of UV rays and other environmental variables on the skin compel people to use skincare products. In the professional skincare market, researchers, aestheticians, and dermatologists with in-depth product knowledge are typically involved.
US Professional Skincare Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 130.5 billion
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The Global Professional Skincare Market is segmented based on product type, skin type, price range, composition, distribution channel, and region. Based on Product Type, Professional Skincare Market is categorized into Creams, Lotions, Powders, Sprays, and Masks. Based on Skin Type, Professional Skincare Market is categorized into Neutral skin, Dry skin, Oily skin, Mixed skin, and Sensitive skin. Based on Price Range, Professional Skincare Market is categorized into Economy, Mid-range, and Premium. Based on Composition, Professional Skincare Market is categorized into Organic/Natural and Conventional. Based on the Distribution Channel, Professional Skincare Market is categorized into Offline retail stores and Online retail stores. The Offline retail stores segment is further sub-segmented into Direct Sales, Supermarkets/Hypermarkets, Departmental Stores, Convenience stores, Specialist stores, and Mono-brand Stores. Based on region, Professional Skincare Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Professional Skincare Market Analysis by Product Type
On the basis of product type, the creams segment is currently dominating the global professional skincare market. The majority of customers favor creams over other treatments because there are more cream varieties available for a variety of skin-related issues. Creams are anticipated to hold a significant proportion as they have a variety of uses, including moisturizing, brightening, removing tanning, reducing oil, removing dark circles, night cream, and sun protection.
On the other hand, the powder and lotion segments are also expected to show significant growth over the forecast period. Consumers frequently employ powders. According to skin-related issues like rashes and allergies, many types of powders are accessible. Due to its use as a skin treatment for acne and blackheads, as well as its practical role in reducing skin irritation, the powder market is also anticipated to have a sizable position. Additionally, lotions have also grown in popularity among users because of their important functions in nourishing the skin and preventing sunburns and tanning.
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Based on the region, the Asia Pacific region currently dominates the global professional skincare market. In 2021, Asia Pacific had the highest revenue share of more than 35%. This is due to the region's rising standard of living, expanding working-class population, and rising purchasing power of the people. The growth of the chemical sector in China and India, both of which have government support, is anticipated to assure ongoing access to raw materials for producers of skincare products and, as a result, to positively impact the Asia Pacific market throughout the projection period. In terms of consumption as well as production, China is one of the key nations assisting the expansion of the global market for cosmetics and skin care goods. Additionally, a number of government initiatives are boosting the nation's demand for skin care goods. Additionally, increased access to a wide variety of brands and rising awareness of skin nutrition products are likely to drive the skincare market growth in Asia Pacific.
Europe is another region that has significant market share in the global professional skincare market. On the international professional skincare market, Europe is expected to maintain a sizable market share. Both men and women in Europe are more focused on enhancing their overall skin condition because they care more about how they seem. Additionally, the stronger presence of important competitors operating in the professional skincare market and the larger purchasing power of the local population in the area are both contributing to the industry's growth.
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Professional Skincare Market Drivers
Professional Skincare Market Restraints
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The professional skincare industry is highly fragmented due to the existence of several domestic and foreign companies in the worldwide market. Manufacturers are putting more of an emphasis on providing items with sustainable ingredients, such as vegan and organic goods, as well as eco-friendly packaging options to lower their carbon impact. Manufacturers are concentrating on employing different botanical extracts as raw materials in order to draw in customers and satisfy the growing consumer demand for safe and less hazardous products.
Professional Skincare Market Top Players Company Profiles
Professional Skincare Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global professional skincare market is currently led by countries in the Asia Pacific region, due to the region's rising standard of living, expanding working-class population, and rising purchasing power of the people in this region. Along with this, the creams segment is projected to lead the market mainly due to the various benefits associated with them such as moisturizing, brightening, removing tanning, reducing oil, and removing dark circles among others, over the forecast period.
|Market size value in 2021||USD 130.5 billion|
|Market size value in 2030||USD 136.35 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Professional Skincare Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Professional Skincare Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Professional Skincare Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Professional Skincare Market for additional countries.
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