Increasing demand for skin care products is expected to drive the growth of Europe skin care market
Increasing demand for skin care products is expected to drive the growth of Europe skin care market
According to TechSci Research report, “Europe Skin Care Market, By Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Country, Competition, Forecast & Opportunities, 2025”, Europe skin care market is expected to witness a substantial CAGR during the forecast period. Increasing demand for natural organic products without any side effects is one of the major factors accounting for the growth of Europe skin care market. Moreover, growing concerns pertaining to skin problems is expected to bode well for the growth of Europe skin care market through the forecast period. In addition to this, change in lifestyle patterns in emerging countries due to rapid urbanization is positively influencing the growth of Europe skin care market. Also, increase in demand for advanced skin care products is making headway for the growth of Europe skin care market. Along with this, emergence of online brands along with increasing internet users is positively contributing to the market growth in the region. However, there are some factors that might act as major impediments to the growth of Europe skin care market including lower shelf life of the products.
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Europe skin care market can be segmented based on product type, origin, distribution channel, company, and region. Based on product type, the market can be categorized into face care and body care. Out of these, the face care segment dominated the market until 2019 and is expected to grow at the highest CAGR during the forecast period on account of growing demand for skin brightening face creams to reduce acne scars, freckles, age spots, and discoloration. In terms of distribution channel, the market is fragmented into beauty parlours/salons, multi branded retail stores, online channels, supermarkets/hypermarkets, exclusive retail stores & others. Among them, online channels segment is estimated to dominate the market over the next five years on account of availability of heavy discount on products. Additionally, consumers lack time to visit physical stores to purchase products owing to their hectic lifestyles, which is propelling the segmental growth across the region.
Avon, Beiersdorf, Estée Lauder, L'Oréal, P&G, Unilever, AmorePacific, Amway, Aveda, BABOR, are among others are the leading players operating in Europe skin care market. The leading players are adopting several growth strategies to enhance the market scenario of skin care. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diversify their product portfolio in order to strengthen their market position. Aggressive marketing strategies of existing players along with massive investment in research and development to create innovative products has also led to significant increase in sales.
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“Europe skin care market is forecast to register high growth until 2025 on account of rise in awareness towards skin care through advanced skin care products. Furthermore, increase in wellness spending in the region is further boosting the market growth for skin care. In addition to this, fast growing middle-class population, is further expected to fuel the market growth through 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Europe Skin Care Market, By Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Europe skin care market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe skin care market.
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