Facial Skincare Market Size To Reach $142.11 Billion By 2030

Facial Skincare Market Growth & Trends

The global facial skincare market is expected to reach USD 142.11 billion by 2030, expanding at a CAGR of 5.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The primary factors driving the market are the increasing awareness regarding the importance of facial products in order to maintain healthy skin, enhance skin appearance, and minimize skin conditions. The demand for these cosmetic products is also increasing as a result of the expanding purchasing power of the working-class population in emerging nations like China, India, and Brazil. Moreover, demand for long-lasting product variants has surged in Asia Pacific due to the growing trend of skin-whitening agents.

The skincare industry has witnessed significant advancements in product formulations and technologies. Ingredients like hyaluronic acid, retinol, and vitamin C have become popular for their proven benefits in improving skin texture, reducing signs of aging, and brightening the complexion. Furthermore, with the growth of e-commerce, it has become easier for consumers to purchase skincare products from around the world. This has expanded the reach of many skincare brands, allowing them to tap into global markets.

The COVID-19 pandemic has had a significant impact on various industries, including the market. During the pandemic, many people's priorities shifted towards health and hygiene. This has led to increased interest in products that promote skin health and cleanliness. Furthermore, the pandemic highlighted the need for personalized solutions. Brands that offered customized skincare regimens and virtual consultations gained traction as consumers sought individualized recommendations without in-person interactions.

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Facial Skincare Market Report Highlights

• The marketin the healthcare industry was estimated at USD 90.76 billion in 2022 and is expected to reach USD 142.11 billion in 2030

• Facial creams accounted for the largest share of 36.48% share of the global revenue in 2022. Numerous commercial marketing campaigns and celebrity endorsements have contributed to the rise in demand for face creams

• Women are the major consumers of the facial care industry. This application segment accounted for more than a 58.76% share of the overall revenue in 2022

• The supermarkets and hypermarkets segment held the largest revenue share of 45.77% in 2022. Supermarkets and hypermarkets are ideal places for all kinds of customers to shop as they offer various advantages including choice, lower prices, and visibility for global brands

• In 2022, North America held the largest market, with a revenue share of 35.85%. The market growth is attributed to the existence of major product manufacturers in North America, such as Procter & Gamble and Unilever, along with the growing infrastructural facilities for retailers

Facial Skincare Market Segmentation

Grand View Research has segmented the global facial skincare market based on product type, gender, distribution channel, and region:

Facial Skincare Product Type Outlook (Revenue, USD Billion 2018 - 2030)

• Skin-whitening & Anti-ageing

• Facial Creams

• Serums & Masks

• Others

Facial Skincare Gender Outlook (Revenue, USD Billion 2018 - 2030)

• Male

• Female

Facial Skincare Distribution Channel Outlook (Revenue, USD Billion 2018 - 2030)

• Hypermarkets/ Supermarkets

• Pharmacies

• Online

Facial Skincare Regional Outlook (Revenue, USD Billion 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List of Key Players in the Facial Skincare Market

• L’Oreal

• Procter and Gamble

• Oriflamme

• Unilever

• Estee Lauder Company

• Johnson & Johnson