Skin Moisturizers Market Is Estimated To Witness High Growth Owing To Rising Consumer awareness about Skin Care

The Skin Moisturizers Market is estimated to be valued at US$ 15.66 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

The skin moisturizers market is witnessing high growth owing to rising consumer awareness about skin care and rising prominence of beauty and personal care products globally. Changing lifestyles and increasing disposable income have led consumers to spend more on personal care and beauty products. Moreover, growing concern about premature aging due to pollution, stress, and other environmental factors is further propelling the demand for skin moisturizers.

Key Market Trends: Natural and Organic Skin Moisturizers Trend – The demand for natural and organic skin moisturizers is increasing significantly owing to the rising awareness about the harmful effects of chemical-based products.

Multifunctional Skin Moisturizers Trend – The trend of multifunctional skin moisturizers incorporating the benefits of serum, oil, and other skin solutions is gaining traction in the market. These products offer anti-aging, sun protection, and hydrating properties in a single pack, which satisfies multiple skin care needs, thus increasing their demand. More coverage can be found in the sample copy.

Skin Moisturizers Market Opportunities: The skin moisturizers market is segmented based on product type into creams, lotions and ointments. Creams segment held the largest share of more than 35% in the global market in 2020. Creams are thick and rich in consistency which helps replenish skin’s moisture barrier effectively. They contain a higher concentration of active ingredients such as hyaluronic acid and ceramides which keep the skin hydrated for longer duration of time.

The market is further segmented based on skin type into normal, dry, oily and sensitive. The dry skin segment accounted for over 30% share in 2020. Dry skin lacks natural oils and tends to dehydrate easily. Daily use of moisturizers formulated for dry skin helps retain skin’s moisture and prevents dryness, flakiness and irritation.

Key Market Takeaways: On the basis of product type, creams segment is expected to hold a dominant position owing to higher concentration of active ingredients. On skin type, dry skin segment captured largest share due to lack of natural oils in dry skin.

By region, North America accounted for over 30% of global market share in 2020 and is expected to remain dominant over the forecast period. Well established skin care industry, increasing expenditure on personal grooming products and high disposable incomes are some factors spurring market growth in the region.

Recent Developments in Skin Moisturizers Market: In June 2023, Olay launched Regenerist Micro-Sculpting Cream, the brand’s most advanced formula to date. The cream contains hydrolyzed collagen, niacinamide, and a peptide complex. Helps make the skin firm and plump. Reduces the appearance of lines and wrinkles. Consumer reviews praise its lifting sensation and ability to deeply moisturize without being oily.

Aesop launched a new Hydration Concentrate Moisturizing Cream in June. Available in a 30ml stainless steel airless garlic dispenser. A lighter, more nourishing formula with Australian Tamanu oil extract and Amexa kakadu nut extract, Clogs deeply moisturizes the skin without pores or leave oily residue Preliminary analysis praises the cream’s ability to quickly report that it doesn’t seem heavy. The full coverage report is available here. Full coverage of the report available here.