The Global Sensitive Skin Care Products Market size is expected to reach $80.1 billion by 2030, rising at a market growth of 8.9% CAGR during the forecast period
Oct 31, 2023
Face creams and moisturizers are some of the products that are employed the most because they are regularly utilized. Therefore, face creams and moisturizers generated $8,542.3 million revenue in the market in 2022.
New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sensitive Skin Care Products Market Size, Share & Industry Trends Analysis Report By Gender, By Distribution Channel, By Product, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06488069/?utm_source=GNW Moisturizers are a simple, hassle-free, fast method to treat dry skin in addition to providing advantages including rapid hydration, less breakouts, and revitalized skin. Additionally, as more people choose cruelty-free skincare products because they are more concerned about animal welfare and the environment, there is a growing market for vegan or skincare products that contain a combination of plant-based components.The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For example, In February, 2022, Beiersdorf acquired Chantecaille Beaute offering in prominence beauty with creative skincare, fragrance, and cosmetics products that are based on botanical ingredients. The new brand would further boost Beiersdorf’s growth in the Asian and North American markets. Additionally, In September, 2022, L’Oréal signed an agreement to acquire Skinbetter Science aligns with the Active Cosmetics Division’s brand offerings. This would contribute highly to the L’Oréal Active Cosmetics Division’s aim to lead in health and beauty segments with advanced science-based skincare innovations.Based on the Analysis presented in the KBV Cardinal matrix; L’Oréal S.A., Johnson & Johnson, Unilever PLC, and The Procter and Gamble Company are the forerunners in the Sensitive Skin Care Products Market. In April, 2023, L’Oréal came into an agreement with Natura & Co to acquire Aesop, the luxury Australian skincare brand. Through this acquisition, L’Oréal would increase its footprint in the high-end, natural beauty product area and broaden its presence across China. Companies such as The Estee Lauder Companies, Inc., Kao Corporation and Beiersdorf AG are some of the key innovators in Sensitive Skin Care Products Market.Market Growth FactorsRising demand for international brands rather than country productsCustomers in emerging nations favor imported cosmetics over those created locally. Most people in these nations favor international brands because of the high quality and accessibility of these products. Due to growing consumer interest in skincare and increasing disposable income, there is an increased demand for imported luxury and niche brands of sensitive skincare products. The market for sensitive skin care products is thus being stimulated by this.Rising demand for natural & organic care productsThe market for sensitive skin care products is anticipated to be driven by the increased demand for natural & organic personal care products due to growing health concerns. These are frequently made from plants, ensuring that the skin benefits more from all of the natural ingredients used to make the product. The demand for sun care products has increased due to the increasing prevalence of skin cancer and other skin issues, and it is anticipated to continue to do so during the forecasted period. These products multifaceted skin protection qualities are also helping them become more well-liked by consumers. The market for sensitive skin care products is expected to increase due to all these factors over the projected period.Market Restraining FactorsGrowing marketing of counterfeit productsDue to the extensive availability of counterfeit skin care products, consumers are intuitively urged to buy low-quality, not branded skincare items instead of reputable brands. As a result, users may purchase skin care products that contain substances that are potentially dangerous to their health. In addition, using these items creates unfavorable skin conditions, such as rashes, skin wrinkles, and swelling, that decreases the desire of consumers to purchase extra skin care products, thus limiting the market’s potential for growth. Furthermore, the more expensive cost of luxury skin care products affects the need for these products among individuals with lower incomes, thereby impeding the growth of the market for sensitive skin care products.Gender OutlookBy gender, the sensitive skin care products market is fragmented into male, and female. In 2022, the female segment witnessed the largest revenue share in the sensitive skin care products market. Female consumers’ need for sensitive skin care products has been fueled by growing knowledge of skin sensitivities and the value of proper skincare. Additionally, many companies offer a variety of goods that appeal to the needs of women, like acne control, hydration, anti-aging, or sun protection, to reach a wider audience. During the anticipated period, this is anticipated to fuel market growth.Distribution Channel OutlookOn the basis of distribution channel, the sensitive skin care products market is categorized into supermarkets & hypermarkets, specialty stores, pharmacy & drugstores, online, and others. In 2022, the online segment recorded a remarkable revenue share in the sensitive skin care products market. Consumers now purchase body sensitive care goods in a different way because to the growth of e-commerce or direct-to-consumer business methods. Online platforms make it easy and convenient for customers to do their research, compare items, read reviews, and then make decisions.Product OutlookBased on product, the sensitive skin care market is segmented into face care, body care and lip care. In 2022, the face care segment registered the largest revenue share in the sensitive skin care products market. The demand from consumers for items to care for their faces has significantly increased. The need for specialist products designed for sensitive facial skin has increased as a result of factors such as greater awareness of skin sensitivities, changing lifestyles, and an increasing focus on skincare routines.Regional OutlookRegion wise, the sensitive skin care products market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the APAC region led the sensitive skin care products market by generating the highest revenue share. The region’s sensitive skin care products market is growing due to elements like population expansion, escalating urbanization, and increasing per capita spending on personal care products in developing nations like South Korea, China, India, and Indonesia. Additionally, nearly one-third of Chinese shoppers said they’d be prepared to shell out more money for a sheet mask perfect for their sensitive skin.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L’Oréal S.A., Johnson & Johnson, Unilever PLC, Beiersdorf AG, The Estee Lauder Companies, Inc., The Procter and Gamble Company, Amorepacific Corporation, Kao Corporation, Pevonia International LLC, and Sebapharma GmbH & Co. KG.Recent Strategies Deployed in Sensitive Skin Care Products MarketPartnerships, Collaborations and Agreements:Mar-2023: Johnson & Johnson came into collaboration with Sequential Skin, a US-based testing outfit. This collaboration would focus on the sequential development of the latest methods for non-invasive genomic skin testing to help it add to its emerging database of skin samples.Sep-2022: L’Oréal partnered with Verily, an Alphabet precision health enterprise, to boost its skin health domain. With this partnership, Verily’s powerful offerings for dermatologists and consumers would be combined with L’Oréal’s beauty tech strategies facilitating L’Oréal in product development. Moreover, the partnership would extend L’Oréal’s reach in the beauty business in the North American region.Jan-2021: Kao came into a partnership with Nykaa, an Indian e-commerce company. Under this partnership, Nykaa would be the distribution partner for the Kao leading sunscreen label Bioré in the Indian industry. Additionally, the company aimed to fulfill the growing needs of Indian customers with the Bioré launch, searching for efficacious and creative skincare.Product Launches and Product Expansions:Jan-2023: The Procter & Gamble Company brand ’Olay’ released OLAY Niacinamide + Peptide 24 Face Moisturizer, a moisturizer product featuring niacinamide + amino peptide moisturizer combo, developed for the treatment of skin complexion, fine lines, and wrinkles.Apr-2022: Neutrogena, owned by parent company Johnson & Johnson, introduced Neutrogena Bright Boost for growing the issue of skin dullness. The new Neutrogena Bright Boost would be supported by a 360-degree digital-first outreach program across platforms and further strengthened through a digital film that presents the Bright Boost coverage and the revolutionary dermatologist-preferred element Neoglucosamine.Acquisitions and Mergers:Apr-2023: L’Oréal came into an agreement with Natura &Co to acquire Aesop, the luxury Australian skincare brand. Through this acquisition, L’Oréal would increase its footprint in the high-end, natural beauty product area and broaden its presence across China.Nov-2022: The Estée Lauder Companies signed an agreement for taking over the TOM FORD brand, a worldwide leader in luxury. Through this acquisition, TOM FORD’s capabilities in delivering consumers luxury fragrance and beauty products would support The Estée Lauder in delivering customers the finest quality offerings worldwide.Sep-2022: AmorePacific completed the acquisition of Tata Harper Alchemy, a natural, non-toxic, high-performance luxury skincare, cosmetics, and aromatherapy line based on an Organic farm. Following this acquisition, Tata Harper would be backed by AmorePacific’s top-notch R&D and P&L infrastructure, to significantly broaden its presence in the Asian and Western markets.Sep-2022: L’Oréal signed an agreement to acquire Skinbetter Science, a US derma skincare brand. The acquisition of Skinbetter Science aligns with the Active Cosmetics Division’s brand offerings. Additionally, this would contribute highly to the L’Oréal Active Cosmetics Division’s aim to lead in health and beauty segments with advanced science-based skincare innovations.Feb-2022: Beiersdorf acquired Chantecaille Beaute, a provider of skincare and cosmetics products. Under this acquisition, Chantecaille completes Beiersdorf’s offering in prominence beauty with creative skincare, fragrance, and cosmetics products that are based on botanical ingredients. Additionally, the new brand would further boost Beiersdorf’s growth in the Asian and North American markets.Jan-2022: Procter & Gamble took over Tula, a luxury skincare brand. Through this acquisition, Tula is a perfect addition to the P&G suite with its basis in science-based skincare that delivers scientifically proven solutions. Additionally, P&G Beauty’s part would be to support the Tula team to boost brand growth and support innovation and expansion.Dec-2021: L’Oréal completed the acquisition of Youth to the People, a U.S.-based skincare company. Through this acquisition, the expertise of Youth to the People in developing high-quality skincare products formulated with vegan blends of superfood extract would be leveraged by L’Oréal to deliver enhanced skincare products to consumers.Aug-2021: Unilever completed the acquisition of Paula’s Choice Skincare, to advance its skincare segment suite and expand its reach to worldwide customers. Through this acquisition, Paula’s skincare and ingredient deep knowledge would provide aid to Unilever in expanding its portfolio in the skincare segment and serving worldwide customers.Geographical Expansions:Jun-2022: L’Oréal expanded its business by re-launching its luxury beauty brand, Lancôme, in India. This expansion would allow L’Oréal to use the Lancôme brand to sell skincare, cosmetics, and fragrances across India.Dec-2021: Procter & Gamble along with A.S. Watson Group expanded its business by establishing a new skincare brand called Aio. The new product line would be marketed in Watson’s brick-and-mortar marts and online in Greater China, to learn jointly and co-design the Aio request for the derm and health requirements of the consumers.Scope of the StudyMarket Segments covered in the Report:By Gender• Female• MaleBy Distribution Channel• Supermarkets & Hypermarkets• Specialty Stores• Pharmacy & Drugstores• Online• OthersBy Product• Face Careo Face Creams & Moisturizerso Cleansers & Face Washo Serums and Essenceo Sunscreeno Others• Body Careo Body Creams & Moisturizerso Body Washo Others• Lip Careo Lip Balmso Lip Scrubo OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• L’Oréal S.A.• Johnson & Johnson• Unilever PLC• Beiersdorf AG• The Estee Lauder Companies, Inc.• The Procter and Gamble Company• Amorepacific Corporation• Kao Corporation• Pevonia International LLC• Sebapharma GmbH & Co. KGUnique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06488069/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________