Premium Skin Care Market Report

Market Insights

What is Premium skin care?

Premium skincare products are meticulously created using Mercedes Sprinter-level inactive components designed to deliver active ingredients faster, safer, and more efficiently. Sure, if you scour the drugstore long enough, you'll find an excellent product at a reasonable price.

The Premium skin care Market is estimated to grow from USD XX million in 2020 to USD XX million by 2026 at a healthy CAGR of XX during the forecast period.

Figure: Premium skin care Market Size, 2020-2026 (USD Million)

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Market Drivers

People taking care of their health and bodies have become increasingly prevalent as the emphasis on preventative healthcare has increased in response to the rising number of ailments. The rise in demand for luxury products can be directly connected to the effect of social media and people's growing interest in such products rather than following social celebs. Rising male beauty consciousness and female financial freedom are also predicted to influence demand for premium skincare products.

Covid-19 Impact Analysis

The COVID-19 pandemic impacted the worldwide supply chain and manufacturing activity. Due of pandemic restrictions and the inaccessibility of non-essential products, lockdown restrictions resulted in a significant decline in sales.Sales through channels like as convenience stores, supermarkets, and hypermarkets are expected to expand when the pandemic fades and restrictions are relaxed. Premium beauty and personal care product sales via online and e-Commerce channels, on the other hand, are likely to increase in the post-pandemic era.

Segments' Analysis

Sales Channel Trends

Based on Sales Channel, the Premium skincare market has been divided into Hypermarkets/Super Markets, Retail Chains, e-Commerce, Others.  The Hypermarkets/Super Markets accounted for the largest market share in 2020. Stores are specialty stores where all cosmetic products are available for purchase and clients may physically inspect the product specifics. These retailers sell customized kits containing a variety of cosmetic products packaged together for customers, and the kit is supplied at a discounted price to entice customers.

Regional Trends

By region, the North America Premium skincare market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The premium skincare products market in these regions is predicted to grow significantly as new product releases and rising demand boost market potential over the next decade.

The Asia Pacific Premium skincare market is expected to grow at the highest CAGR during the review on account of the growth of the major end-use industries. Increasing disposable income and a rising appetite for high-end personal and cosmetic items.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Premium skin care market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026. Following are the critical questions answered in the report.

• What are the key trends in the Premium skin care market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on Premium skin care market?
• What are the key strategies adopted by the major vendors to lead in the Premium skin care market?
• What is the market share of the top vendors?

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Key Players

Key players operating in the Premium skin care Market are-

• Revlon Inc.
• Mary Kay
• Shiseido Company Limited
• Procter and Gamble Co.
• Avon Products
• Beiersdorf AG
• Kao Corporation
• Estée Lauder Companies Inc.
• Loreal Group
• Unilever

Target Audience

The target audience of Premium skin care Market includes-

• Premium skin care Vendors
• Premium skin care Manufacturers
• Premium skin care Distributors
• Hypermarkets
• Super Markets

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