Skin Moisturizers Market Size and Trends

The Global Skin Moisturizers Market is estimated to be valued at USD 15.66 Bn in 2024 and is expected to reach USD 22.23 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.

Key Takeaways of the Skin Moisturizers Market:

The creams segment is expected to account for 40.6% of the market share in 2024
The dry skin segment is expected to hold a 58.5% share of the market in 2024
The online segment is expected to capture 62.4% of the market share in 2024
North America to expected to top the market with 37.2% share, followed by Asia Pacific with 28.6% share in 2024

Market Overview:

The rising demand for natural and organic skin care products is driving the market growth. Consumers are increasingly preferring products that are formulated with natural and organic ingredients. Moreover, the demand for anti-ageing skin moisturizers has been increasing significantly. With growing aging population worldwide, anti-aging products are gaining immense popularity. Also, increasing spending on personal grooming and expanding organized retail sector in developing countries are some other factors supporting the market growth. However, the availability of counterfeit products may hinder the growth of established brands. Nonetheless, innovations with regards to ingredients and formulations are expected to provide new opportunities for market players.

Skin Moisturizers Market Concentration By Players

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Key Developments:

In September 2023, California’s legislature approved Assembly Bill (A.B.) 496, prohibiting the sale of cosmetic and personal care products containing 26 hazardous chemicals, such as aldehyde, cyclotetrasiloxane, and trichloroacetic acid
In May 2023, the U.K. government implemented a ban on animal testing for chemicals solely used as ingredients in cosmetic products.

Top Strategies Followed by Global Skin Moisturizers Market Players

Established players focus heavily on research and development to introduce innovative products. Industry leaders like L'Oréal, Unilever, and Beiersdorf invest over 5% of annual revenues into R&D. Their state-of-the-art labs and skilled scientists work tirelessly to formulate highly effective yet safe moisturizers using the latest active ingredients. These companies also forge strategic partnerships with ingredient suppliers and technology startups to gain access to advanced solutions before competitors.
For instance, L'Oréal, for instance, acquired skin care companies in Brazil, India and South Korea over the past five years. This has strengthened their position in high-growth regions.
Mid-tier players have adopted cost-effective strategies to attract price-sensitive customers. Cerave and Cetaphil manufacture affordable drugstore products while maintaining quality. They Source raw materials directly from suppliers to keep expenses low.
Small-scale companies find success through niche specialization. Brands like First Aid Beauty focus solely on ingredients and formulations for sensitive skin conditions. Korean beauty startups cater to the customized needs of their local market. They leverage tie-ups with local manufacturers for efficient production and market entry. Some adopt new technologies to enhance their limited R&D capabilities. Advanced skincare analysis devices help develop targeted solutions.

Emerging Startups - Global Skin Moisturizers Industry Ecosystem

Several startups are developing innovative moisturizing technologies. Klairs uses smart sensors integrated within its app to analyze skin condition in real-time and recommend personalized routines. Augmented reality mirrors by Skin39 map facial areas and track improvement through AR filters. These innovative options captivate younger consumers and reshape market trends.
Sustainable startups - Ethique creates solid moisturizers without preservatives or water waste using recyclable packaging. Principled Skincare utilizes plant-based ingredients and biodegradable formulas. Their eco-friendly solutions satisfy the rising demand for natural products with low environmental impact.
Moreover, startups fulfill niche market needs. Benton specializes in snail filtrate essences popular in Korean beauty routines. Bumble and bumble focuses on styling products for men's grooming needs. Collaborations with influencers and retailers boost their presence.