Skincare Market Revenue Dramatically Increases Due to The Increased Investment in Product R&D

Mar 21, 2021 / by admin / in: Blog

, Skincare Market Revenue Dramatically Increases Due to The Increased Investment in Product R&D

Skincare, acne, and beauty products are some of the most topics people google. There is no wonder studies show skincare market revenue is expected to hit $200.25 Billion by 2026. The main companies covered in these studies are Unilever, Procter & Gamble, L’Oréal Professional and Estée Lauder Inc., And Shiseido Co., Ltd, Beiersdorf AG, Johnson & Johnson Services, Inc., And Avon Products Inc., And Coty Inc., Kao Corporation, and more players featured in the Skincare Market Research Report.

Thanks to the Coronavirus outbreak, organizations and companies invest more in products that are more natural and friendly to human health. This means that significant investments in developing skincare products with safe and organic ingredients will be seen in favor of market growth in the upcoming years. 

Many people, especially women, care more about their skin, delaying aging signs, and incorporate daily skincare routines into their lifestyles. You can notice that in the amount of content posted by influencers, skincare experts, and gurus on social media. There are plenty of social media marketing campaigns out there about skincare products targeting all age groups. Anti-aging products, moisturizers, exfoliation products, and vitamin C serums are all examples of skincare products that have been in high demand in the past few years. 

Skincare products are rapidly gaining popularity all over the world. The changing lifestyle habits, along with the high purchasing power of the general public will aid the growth of the market in the coming years. Developments in the cosmetic industry have opened up enormous possibilities for companies operating in the market.

Read: GLOBAL OTC MARKET GROWTH IN 2021

Due to the potential that skincare products have, many large companies invest more in advanced product development. The increasing number of product launches will have a positive impact on market growth in the coming years. The increased demand for organic products will create big platforms for market growth.

For instance, in January 2020, Procter & Gamble announced that it had acquired Billie Inc. – a company that has a wide range of body care products for women. This acquisition will not only enhance the company’s product range but will have a direct impact on the growth of the skincare market in the coming years.

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