How much is the skincare industry growing?
The global skin care products market size was valued at USD 129.23 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028.
Is the beauty industry growing 2020?
The Australian beauty and personal care products market was valued at USD 3.73 billion in 2020, and it is projected to register a CAGR of 3.87% during the forecast period (2021-2026).
Is the beauty industry a growth industry?
Is the beauty industry growing? The cosmetics industry has an annual growth rate of 4.75%. The online channel for beauty in the U.S. grew by 5.6% in 2020, while off-line sales contracted by 1.2% in the same year.
Is skincare a saturated market?
It is estimated that by 2027, the global skincare market is expected to reach a market value of $185.5 billion. … That being said, and it may sound contradictory coming from someone who sells skincare, this market is officially over-saturated. There are too many skincare brands and products.
Is the skincare industry saturated?
The beauty industry is a saturated market, meaning a stand-out product or interesting story is no longer enough to succeed as consumers become increasingly demanding and more digitally-savvy than ever before. In order to break through, beauty brands today are placing a bigger focus on customer experience (CX).
What is the most in demand skin care product?
The United States has a thriving skin care market. The two best selling skin care products in the U.S. are facial cleansers and acne treatments, selling 304 million and 85 million units respectively in 2020.
What skincare products are in high demand?
The market is experiencing an accelerating demand for anti-aging products, like anti-wrinkle cream, face cream, serum, eye cream, and others. In addition, factors like pollution and hard water conditions are bombarding such products’ needs.
What age group buys the most skin care products?
TABS Analytics’ second annual U.S. Cosmetics Study found that millennial women (ages 18 to 34) are the heaviest buyers of beauty products in the $13 billion cosmetics market (market size excludes skin care and hair care products).
What age group buys the most skin care products 2021?
When looking at how this trend varies between age groups, 47% consumers between the ages of 31-35 have purchased online, followed by 46% of consumers ages 21-25 and 42% of consumers ages 26-30. While many are going online to make their purchases, openness to product discovery remains a question.
How much is the skincare industry worth 2021?
The global beauty industry market is valued at $511 billion in 2021. The beauty and personal care market will hit a jaw-dropping market size of $716.6 billion by 2025. The US cosmetic market is worth a staggering $62.46 billion.
How big is the skincare industry?
The worldwide skincare products market is projected to grow at a CAGR of 4.69% by 2026. The skincare products market was worth $140.92 billion in 2020.