Moisturizer Market to Gain Prominence; Leading Brands such as L'Oreal and Unilever to Concentrate on Diversifying Operations in Emerging Industries: Fortune Business Insights™
The global moisturizer market size is projected to experience dynamic growth in the forthcoming years owing to the increasing number of consumers who are more skin and wellness-conscious than ever before because they are aware of skin damages caused due to pollution, UV rays, climatic changes, and workplace stress, observes, Fortune Business Insights™ in its report, titled, “Moisturizer Market Size, Share & Industry Analysis, By Type (Face Moisturizers, Hand Moisturizers, Body Moisturizers), By Packaging (Plastic, Glass, Paper), By Product Form (Creams, Lotions, Gels, Others), By End-User (Women, Men) and regional forecast 2021-2028″.
The skincare industry is projected to grow at a faster pace in the forthcoming years. According to the Automat report, skincare products such as moisturizers grew by 13% in the United States. This number was higher than that of makeup, which only accounted for 1 percent. Online skincare retailers have grown by 2.4 percent. Also, as per Net-a-Porter, the best-selling category in its beauty department was skincare products. Top beauty care brand L’Oréal also reported that its skincare product grew by 40% of its total beauty market though the company mainly manufactures cosmetics worldwide.
The COVID-19 pandemic has led to a severe economic downturn, impacting the moisturizer market negatively. Lockdown has led to the closure of industries manufacturing these skincare products, thereby reducing its production. Also, supermarkets, malls, and e-retailing services were shut during the pandemic.
Fortune Business Insights™ lists out a few of the renowned companies present in the moisturizer market. They are as follows:
- L’Oreal S.A.
- Estee Lauder Inc.
- Unilever Plc.
- The Procter
- Coty Inc., Shiseido Co. Ltd.
- Beiersdorf AG
- Henkel AG & Company
- Weleda AG.
- Kao Corporation
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Highlights of the Report
The report contains a comprehensive analysis of the moisturizer market. It provides information about market segmentation and different strategies to increase growth opportunities and revenue of the market. Additionally, it provides regional analysis, future trends, the challenges, and the in-depth impact of COVID-19 on the market.
The rising awareness and different other benefits of organic products compared to that of chemical-based products that impart negative effects on skin has usurped the demand. A report by the California Safe Cosmetics Program under the Department of Public Health mentions that over 700 skincare manufacturers were using 93 chemicals that have been linked to causing cancer, birth defects, and many skin irritability diseases. Organic products are derived from either plants or animals and are good for the skin.
The increased consumption of natural products has led to the manufacturer’s focus on the research and development toroduce best quality products with different formulations as people are willing to pay for the quality due to a rise in their disposable income. As a result, the organic and natural personal care market has become a major part of the skincare sector over the past few years. This trend is expected to continue over the forecast period.
Asia Pacific dominates the global moisturizer market, as the top companies related to skincare, such as L’Oréal, Unilever, and Procter have set up their manufacturing and distribution facilities in countries such as India, China, South Korea, and Japan. Moreover, South Korea is topping the skincare industry in this region. They are promoting their local brands that possessrganic skincare care products that are highly popular in millennials and gen Z. According to the Trade Administration, South Korea accounts for 2.8 percent of the global skincare market and is growing annually by 5.4 percent.
On the other hand, North America is likely to showcase an increasing prevalence of skin disease, such as skin aging and eczema, which, in turn, has led to theurging consumption of moisturizers in this region. Skin Cancer Foundation report states that in the year 2019, basal cell carcinoma was reported in 4.3 million people in the United States. This will likely increase usage of medicated moisturizer in the region and will positively promote the market.
- Face Moisturizers
- Hand Moisturizers
- Body Moisturizers
By Product Form
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of ME&A)
Based on the product type, the market is divided into face moisturizer, hand moisturizer, and body moisturizer. By packaging material, it is segmented into plastics, glass, and paper. On the basis of the product form, it is divided into creams, gel, and lotions. Based on end-users, it is divided into men and women. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Key Questions Answered:
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Top skincare manufacturers are adopting the clean beauty concept and promoting clean eating campaigns to develop a healthier connection with their consumers. The cross-collaboration of skincare products with fitness and wellness will fuel market the growth.
November 2019: Seoul-based skincare brand Have & Be Co. that manufactures a range of skincare products, including moisturizers, masks, and serums, was acquired by one of the top United States-based cosmetics producers named Estee Lauder Inc.
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