For aestheticians and dermatologists, it can be challenging to meet client demands and keep up with ever-changing skincare trends. Understanding the latest trends in the global skincare industry can help you make informed dermatology marketing decisions and offer the most innovative services and products.
In this article, we’ll explore essential skin care industry statistics, examining market growth rates, consumer behavior, and emerging product demands. You’ll gain valuable insights to enhance your service offerings, tailor your marketing strategies, and ultimately, boost business growth.
How much is the skincare industry worth?
The skincare market is predicted to expand to more than $180 billion by 2024. This exponential increase in global skincare market size highlights the increasing demand for skincare products, driven by a rising awareness of skincare routines and a focus on health and wellness.
The beauty industry is expected to grow 6% per year
The global beauty market is expected to grow at a rate of 6% per year. By staying attuned to industry growth, dermatologists and aestheticians can align their business strategies to leverage market trends and ensure long-term success.
How many skincare products are used per day?
On average, women use 5 products per day in their skincare routine. This reflects the personalization of modern skincare routines, highlighting the importance of a diverse product range. By offering a variety of skin care products and leading skincare brands, professionals can enhance customer satisfaction and loyalty.
The global skincare market is expected to grow at a CAGR of 6.2% through 2030
According to Fortune Business Insights, the global market for skin care is expected to grow at a compound annual growth rate of 6.2% through 2030. This sustained growth rate indicates powerful potential for the worldwide skin care market and increasing consumer investment in cosmetic products over the next decade.
How much does the US skincare industry make per year?
According to recent data, the US skincare industry generates approximately $17 billion annually. Dermatologists and aestheticians should strategize their marketing efforts and service offerings to maximize business growth and profitability.
The men’s personal care market is projected to hit $276.9 billion by 2030.
According to a recent study, the men’s personal care market is projected to hit $276.9 billion by 2030. This reflects a rising awareness and acceptance of skincare and personal grooming among men. By offering skincare products for men, professionals can attract a broader audience.
What products are expected to be in high demand?
Skin brightening products, toners, and scrubs are in high demand for facial skincare. These products cater to consumers’ growing desire for exfoliation routines and even-toned, radiant skin.
46% of consumers prefer to see beauty products in person
About 46% of consumers prefer to see beauty products in person before making a purchase. For skin care professionals, this highlights the value of offering in-person consultations and product trials to build trust and confidence amongst clients.
Do consumers care about product quality?
An increasing number of consumers are opting for cruelty-free or vegan cosmetic products. This shift towards natural and organic products indicates a growing awareness and concern for ethical and sustainable practices in the skin care industry.
Are gender-neutral products important to consumers?
According to recent data, 40% of Gen-Z consumers prefer gender-neutral beauty products, compared to around 30% of older generations. This highlights a shift towards inclusivity and the desire among younger generations to dismantle traditional gender norms in the beauty industry. By offering inclusive product lines, skin care professionals can appeal to the values of younger generations.
Sources
“The Beauty Market in 2023: A Special State of Fashion Report.” Mckinsey. May 22, 2023. https://www.mckinsey.com/industries/retail/our-insights/the-beauty-market-in-2023-a-special-state-of-fashion-report
“Skincare Market Size, Share & Industry Analysis, By Product.” Fortune Business Insights. July 15, 2024. https://www.fortunebusinessinsights.com/skin-care-market-102544
“The Ultimate List of Beauty Industry Stats (2024).” Josh Howarth. Exploding Topics. June 11, 2024. https://explodingtopics.com/blog/beauty-industry-stats
“Skin care market in the U.S. – Statistics & Facts.” Dominique Petruzzi. Statista. February 28, 2024. https://www.statista.com/topics/4517/us-skin-care-market/#topicOverview
