Moisturizing Cream Industry Key Drivers & Growth, Trends 2023
Moisturizing creams perform well on the skin by assisting in the locking process of moisture inside the skin and ensuring that the skin does not face any dehydration issue. The global Moisturizing Cream Industry is expecting traction from all quarters to gain a 3.9% CAGR during the forecast period (2019-2023). Market Research Future (MRFR), in their latest market study explains that the market has potential to achieve a USD 16.8 billion valuation by the end of 2024.
Applications of moisturizing creams like skin treatment, anti-aging property, tissue cuts repair, and others are expected to trigger substantial market growth in the coming years. Increasing skin concerns, surge in investments for research & development activities, expanding beauty industry, and better performance of personal care products segment are expected to provide tailwind to the global moisturizing cream market.
Type, category, consumer group, and distribution channel are segments important for the understanding of the global moisturizer cream market. MRFR’s segmentation of the market provides better insights about various market dynamics.
Based on the type, the global moisturizing cream market comprises emollients, ceramides, occlusive, humectants, and others. The emollients segment has the largest market share and is expected to grow with the fastest CAGR during the forecast period.
Also Read : https://www.marketwatch.com/press-release/covid-19-pandemic-impact-on-moisturizing-cream-market-growth-size-value-demand-leading-players-latest-news-and-business-prospect-by-forecast-to-2024-2020-08-17
Based on the category, the global moisturizing cream market includes premium and mass. The mass segment has the maximum market exposure and is expected to grow with the highest CAGR during the forecast period.
Based on the consumer group, the global moisturizing cream market consists adult and children. The adult segment had the better market exposure in 2018 and is deemed to be the fastest one over the review period.
Based on the distribution channel, the global moisturizing cream market can be segmented into store-based and non-store-based. The store-based segment includes supermarkets and hypermarkets, convenience stores, and others. The store-based segment has better market control. However, the non-store-based segment has the potential to register the fastest CAGR during the forecast period.
North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW) are regions that have included in the study of the global moisturizer cream market. The report has been substantially backed by volume-wise and value-wise data.
North America has the market lead and is enjoying the presence of countries like the US and Canada where the growth of this moisturizer market has been remarkable. This is primarily due to awareness regarding benefits of such products, high investment capacity, variety of products, and constant investment in research & development to get hold of best-in-class products.
Europe’s market reflects same features as that of North America. The presence of the UK, Germany, France, Italy, and Spain are helping the regional market in its growth endeavors. The APAC market is also gaining substantial traction from the growing demand and changing market dynamics. Countries like China, India, Japan, Australia, and New Zealand are proving effective for the market growth.
Several companies in the global moisturizer cream market are launching strategic moves to solidify their own market position. These moves are also helping in ensuring a holistic growth for the market. MRFR profiled a few to understand market trends. These companies are Beiersdorf AG (Germany), L'Oréal S.A. (France), The Estée Lauder Companies Inc. (US), Shiseido Company (Japan), Johnson & Johnson Services, Inc. (US), The Procter & Gamble Company (US), The Clorox Company (US), Unilever PLC (UK), Kao Corporation (Japan), Borghese (Italy), The Face Shop Co., Ltd. (South Korea), Galderma Laboratories, L.P. (US), Innisfree Corporation (South Korea), Benefit Cosmetics LLC (US), Mario Badescu Skin Care, Inc. (US), and others.
In August 2019, Tom Ford Research launched a new Serum Concentrate that aims at providing better texture, tone, and glow to the skin. It has algae extracts that calms down stressed skins.
Note: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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