Skincare Market Size

Skincare Market size was valued at USD 136.5 Billion in 2023 and is poised to grow from USD 142.78 Billion in 2024 to USD 214.02 Billion by 2032, growing at a CAGR of 4.6% during the forecast period (2025-2032).

The global skincare market is fragmented due to the number of domestic or international competitors. Therefore, manufacturers have focused primarily on ensuring eco-friendly packaging alternatives and sustainable ingredients, including organic and vegan products, to reduce their carbon footprint. Manufacturers focus on using various botanical extracts as raw materials to cater to the increasing consumer demand for safer and less harmful products, which attracts customers.  'L’Oréal ', 'Unilever ', 'Procter & Gamble ', 'Estée Lauder Companies Inc. ', 'Shiseido ', 'Beiersdorf AG ', 'Johnson & Johnson ', 'Coty Inc. ', 'Amorepacific Corporation ', 'Kao Corporation ', 'LVMH Moët Hennessy Louis Vuitton SE ', 'Colgate-Palmolive Company ', 'Avon Products, Inc. ', 'Mary Kay Inc. ', 'Revlon, Inc. ', 'Oriflame Holding AG ', 'Clarins Group ', 'Natura & Co. ', 'GlaxoSmithKline plc ', 'Henkel AG & Co. KGaA'

Nowadays, increased awareness about synthetic chemicals and their harmful effects on consumers has triggered rising demand among those seeking natural and organic skin care products.

Eco-Friendly and Sustainable Packaging: More environmentally conscious consumers are demanding eco-friendly goods, which has further increased the demand for green-based skincare products. Reusability of containers paired with recyclable and biodegradable packaging is being accepted more and more by both customers and companies. Besides just having a loyal customer base, owners of environmentally friendly brands have aligned themselves to global sustainability goals formulated to boost their market presence as they accrue long-term environmental benefits. 

Due to the growing population of working-class people and a rising standard of living with increased purchasing power in the region, Asia-Pacific contributed significantly to the skincare market. The changing lifestyle and increasing disposable income among the people of growing countries such as China, India, and Japan, have become greater stimulants for the people to spend on purchasing products; increasingly spending on personal care and wellness products can be witnessed. For instance, in December 2022, Kao Corporation launched a new brand line of cosmetics called "UNLICS" directed precisely at Gen Z Men, to keep pace with market tonality demands.