The cosmetic skin care market is gaining popularity with the increasing adoption of the services from the industry. This increase in the popularity is on the back of increasing side effects of chemical based products. These side effects are causing major skincare issues among people. These skincare issues help in increased adoption of cosmetic skin care.
Owning to improved disposable income of major population across the glove, this customer base is growing spending on various personal care products. As a result, the global cosmetic skin care market is projected to experience increased sales avenues in the upcoming years.
North America and the Asia Pacific are two dominating regions in the industry. This dominance is on the back of increasing demand for skincare products, their application, and increased disposable income of the populace in the regions.
The valuation of the cosmetic skin care market is estimated to reach US$ 130.4 Bn by the end of forecast period from 2018 to 2027. Among other regions that are commonly using these cosmetics, Asia Pacific accounts for the highest contribution in the market. In 2017, the industry has been valued at US$ 32.1 Bn.
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Stringent Government Regulations may Curtail Growth in Cosmetic Skin Care Market
Government authorities across different countries in the world have imposed stringent regulations regarding the use of ingredients that are included in the cosmetic skin care market. Certain chemicals are banned that used to be incorporated in cosmetic skin care products. The motive of these regulations in the market is to ensure consumer safety of ingredients. Further, these regulations help in prevention of customers from exposure to any side effects because of chemicals used in the cosmetics. The market research report in the cosmetic skin care market has identified that these regulations assure that every product should undergo organic certification for users safety. However, these regulations are designed to assure individual health while reducing chemical usages.
The government regulations may cause compliance costs to the manufacturers in the market. The skincare companies need to invest in the development as well as the implementation of testing mechanisms to ensure consumer safety from the chemicals used in cosmetic products. Increased need for investments toward the development of consumer safety testing mechanisms may result into restraining the market growth
In the comprehensive cosmetic industry, the cosmetic skin care is treated as a segment. This vertical in the industry further include skin care cosmetics and color cosmetics. Different types of cosmetic products are studied in the research report on cosmetic skin care market. These products are serums, moisturizers, eye care, masks, exfoliants, and antioxidants. They find unique applications for discrete body parts. Such as, exfoliants are applied for the removal of dead skin cells from feet, face, hands, knees, and elbows. The application of eyecare products ensures reduced wrinkled and dark circles around the eyes. Masks in the cosmetic skin care industry find applications for different purposes, starting from face brightening to reduction of tanning. These cosmetic products are not only used by women but also by men. The ongoing trends are also increasing the contribution of men in the cosmetic skin care industry. This side of society is using cosmetics because of an increasing need for grooming oneself.
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Some of the key players studied in the research report on cosmetic skin care market include Unilever, Shiseido Company, L’ORÉAL PARIS, Revlon, Procter & Gamble, Estée Lauder Inc., Coty Inc., and BeiersdorfAG.srl.
Customization Serves as Roaring Determinant in Cosmetic Skin Care Market
According to market insights on cosmetic skin care products, the customizable products create opportunities for the market players in the upcoming years. The manufacturers of personalized cosmetic skin care products consider specific individuals details such as pollution level in their residential area, skin type, weather, and other required information. These data help manufacturers to ensure compatibility of the products with skin type. During the process of personalization, user experience also plays a pivotal role. Their feedback may enable manufacturers to improve quality of their products.
Cannabidiol (CBD) is used in various customizable beauty products in the cosmetic industry. It is used for the treatment of eczema, psoriasis, and dry skin. Some of the products that use CBD are ranging from shampoos, moisturizers, to fragrances, balms, gels, and lipsticks. It offers moisturizing and anti-inflammatory properties, and it further increases its popularity in the industry as an ingredient. The growth in the popularity of CBD encourages manufacturers to use this ingredient in products in the cosmetic skin care market.
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