Global Skin Care Products Industry
The world skin care industry expanded by almost 5% in 2010, generating more than $78 billion and a volume of over 11 billion units, reports MarketLine. Between 2010 and 2015, the market is expected to grow by more than 21% to generate almost $95 billion and should reach a volume in excess of 13 billion units. Facial care represents the leading market segment, with more than 64% of overall value. Asia-Pacific represents almost 45% of the global market. L’Oreal holds the top spot with 12% market share.
The skin care industry has witnessed a shift from demand from older consumers to a growing younger consumer base. People are beginning to use skin care at an increasingly young age in a bid to delay the signs of aging, while the number of older consumers is beginning to fall, reports Canadean. Skin care companies may adapt their marketing strategies to correct this balance and hold on to their older consumer base.