The expanding worldwide skincare awareness is the primary element driving the robust expansion of the global skincare products market. The worldwide skin care products market is expanding as more people become aware of skin-friendly beauty products and the advantages of skin nutrition. Increasing worry about skin nutrition owing to a variety of causes such as the increased prevalence of acne, black spots, dullness, and fine lines is driving up demand for skincare products among the young and teenage population. Personal care products have become an essential component of many people's daily lives. Yet, many of the skincare products used in everyday life include a number of chemicals that are directly or indirectly harmful to the skin if used for an extended period of time. Excessive usage of chemical-laden or inorganic skin care products may result in disorders such as skin cancer, allergies, rashes, and tumours.
According to Coherent Market Insights,the global Skin Care products Market is expected to surpass US$ 189.89 Bn by the end of 2028 in terms of revenue, exhibiting a CAGR of 4.37% during the forecast period (2021 to 2028).
Key Companies in the Skin Care Products Industry:
1. Unilever Plc.
Unilever PLC operates as a fast-moving consumer goods company. It operates through Beauty & Personal Care, Foods & Refreshment, and Home Care segments. Unilever PLC was incorporated in 1894 and is headquartered in London, the United Kingdom. On June 2020, Unilever announced the next step in the evolution of its skin care portfolio to a more inclusive vision of beauty – which includes the removal of the words ‘fair/fairness’, ‘white/whitening’, and ‘light/lightening’ from its products’ packs and communication.
2. Coty Inc.
Coty Inc., together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company was founded in 1904 and is based in New York, New York. Coty Inc. operates as a subsidiary of Cottage Holdco B.V. Coty Sets out Comprehensive Strategy to Double Skincare Sales by FY25 on September 21, 2022.
3. Johnson & Johnson Inc.
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey. Johnson & Johnson Consumer Health showcased research that emphasizes developments in understanding and treating skin at the 2022 American Academy of Dermatology (AAD) meeting, held in Boston, the US, between March 25 to 29.
4. Proctor & Gamble Co.
The Procter & Gamble Company provides branded consumer packaged goods worldwide. The Procter & Gamble Company was founded in 1837 and is headquartered in Cincinnati, Ohio. On March 2022, P&G announced new Specialty Beauty division. Encompassing Farmacy, Tula Skincare, Ouai and First Aid Beauty, the division will be helmed by Chris Heiert.
5. L’Oreal S.A.
L'Oréal S.A., through its subsidiaries, manufactures and sells cosmetic products for women and men worldwide. L'Oréal S.A. was founded in 1909 and is headquartered in Clichy, France. In 2021, L'Oréal was the leading personal care brand in the world, with a brand value that amounted to 38.3 billion U.S. dollars.
6. Revlon Inc.
Revlon, Inc., together with its subsidiaries, develops, manufactures, markets, distributes, and sells beauty and personal care products worldwide. Revlon, Inc. was founded in 1932 and is based in New York, New York. On June 15, 2022, Revlon, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.
7. Kao Corporation
Kao Corporation was founded in 1887 and is headquartered in Tokyo, Japan. Kao Corporation was founded in 1887 and is headquartered in Tokyo, Japan. Kao Corporation has launched UNLICS, a cosmetics brand for Gen Z men who aspire towards a beauty that goes deeper than personal grooming. UNLICS products debuted on the official UNLICS online retail site, Rakuten and Amazon*1 , on December 1, 2022.
8. Beiersdorf Aktiengesellschaft
Beiersdorf Aktiengesellschaft engages in the manufacture and distribution of consumer goods in Europe, the Americas, Africa, Asia, and Australia. It operates in two segments, Consumer Business and Tesa Business. The company was founded in 1882 and is headquartered in Hamburg, Germany.
9. Colgate Palmolive Company
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. Colgate-Palmolive Company was founded in 1806 and is headquartered in New York, New York.
10. Estee Lauder Inc.
The Estée Lauder Companies Inc. manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. The Estée Lauder Companies Inc. was founded in 1946 and is headquartered in New York, New York. On August 2022, Estée Lauder teamed up with Nykaa, India's biggest beauty and wellness e-commerce platform, to launch an incubator for Indian beauty entrepreneurs
*Defintion- Human skin care products are used to improve and preserve its look. There are several products on the market that contain alpha-hydroxy acids, beta-hydroxy acids, and retinol as essential components, including cleansers, toners, body lotions, oils and serums, and creams.
