Published on: February 07, 2020
The skincare products market is expected to grow at a CAGR of 5.6% between 2022 and 2027, increasing by USD 42.41 billion. This means there is significant demand for body creams and lotions for a wide range of applications.
The body creams and lotions market is a significant segment within the skincare industry, offering moisturizing, protective, and repair functionalities to meet diverse customer needs. It includes products for adults, children, and babies, available in various formulations and with different skincare benefits.
The market is likely to experience steady growth, driven by factors such as rising disposable incomes, consumer lifestyles, and urbanization. Trends such as sustainability, natural ingredients, and anti-aging formulations are also impacting the market.
Increasing consumer awareness about skincare is helping to drive the market, as is the demand for multifunctional body lotions with anti-aging and sun protection properties. Many consumers lead hectic lifestyles and are exposed to environmental pollution, which can impact the state of their skin and drive the need for protective and nourishing skincare products.
Concerns around sustainability and environmental impact, such as microplastic pollution and water wastage in production processes, are influencing consumers’ product choices. Companies that don’t advertise an eco-friendly approach may find it more challenging to appeal to customers. Animal cruelty and harmful toxins in skincare formulations also discourage consumers from buying certain products, and counterfeit products are another issue eating away at manufacturers’ market share.
The other side of these issues is that there are opportunities for manufacturers of organic and natural products that use sustainable ingredients. Manufacturers can capitalize on trends like vegan products and chemical-free formulations to attract environmentally conscious consumers. Companies are also taking advantage of technologies such as artificial intelligence and machine learning to enhance the shopping experience and consumer relations. Innovations such as intelligent automation and omnichannel marketing enhance consumer interactions and provide advice on personalized skincare routines, adding value for the customer.
Technavio’s market research on this industry provides a detailed analysis of the market landscape, providing data on product types, regional markets, sales channels, and more.
Our body creams and lotions market segmentation covers topics such as:
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is expected to lead the global market in growth, as it is home to many popular skincare brands. The rising rate of urbanization and high population density, as well as an increasing demand from consumers of all genders for personal care products are driving the growth of the regional body creams and lotions market during the forecast period.
Technavio's body creams and lotions industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our body creams and lotions market reports include:
In order to provide you with a comprehensive view of the body creams and lotions industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
1.How do I identify key trends in the body creams and lotions market?
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
2.How do I decide which segments of the body creams and lotions market to focus on?
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
3.Who are the major players in the body creams and lotions market?
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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