ID: MRFR/CR/2771-HCR | February 2021 | Region: Global | 90 pages
The moisturizing cream market is growing very rapidly; due to its growth, it is expected that it will acquire USD 18.38 billion by the end of 2024, and it has been seen that many consumers are keen to use different moisturizing cream which may create its growth rate 4.20% during the future period.
The main reason for the growing market is due to the heavy use of cosmetics. Moisturizing cream has many benefits; that is why many dermatologists ask patients to use it to protect skin from several problems.
Moisturizing cream is growing because of the potential ingredients present in it. It has a very hydrating property, so many skin doctors recommend healing skin problems due to the increased demand for skin care products and the many creams and personal care products.
Our skin needs penetration of the correct products as our skin has three layers; it needs products that can go that deep. The market has been made with many things to go deep into the skin and make things work. Due to various skin problems because of our environments like pollution, bad air, and toxic products. The market is developing as it is the one product that can make skin correct. Many companies are trying their best to create something that can sell in huge numbers, and it could be attractive and useful enough in the personal and beauty industries to be on the list of growth. The beauty industry is growing because of the production of many types of moisturizers. The marketers are trying to develop organic products that attract many consumers, increasing the moisturizing cream market. But the companies who are not concerned about the ingredients and money value can decrease the company's market value because there is so much competition in the beauty market. Every day, one new company launches new products that create a better opportunity and decrease the market for the older ones.
The global pandemic coronavirus has affected the market very badly. Moisturizing cream market analysis shows that the use of beauty products has decreased very effectively. COVID 19 cases increased, which impacted the whole world market. The World Health Organization (WHO) and the Center for Disease Control and Prevention (CDC) have ordered frequent cleaning of body parts and mostly hands to protect from COVID-19. Preventative categories such as hand sanitizers, soap, sanitizer with 60 percent above alcohol content, and wet wipes are demanded from the WHO hand hygiene guidelines. Due to the use of water or products that make skin dry and itchy, skincare products such as hand creams and moisturizers are also witnessing a greater demand due to continuous hand washing. Therefore, skincare product manufacturers can create products that fulfill various consumer needs to solve this terrible condition. Due to this crisis, the government has given orders for the closure of the salons, and there were lockdown orders as well, which affected the market as many people used to go to salons for the concerned skin problems. Due to the services stoppage, many markets were unable to sell their items.
Chief variables existing in the market
Some of the key features of the market that drive the market depends on the rapid growth of skin concerns due to more knowledge about skin products in different areas. Increasing awareness of the products and about the products, its usages and benefits are creating a keen among the consumers to try those products. Many skin-related issues are continuously growing in people, and hence it is one of the key drivers of the market. The cost and availability make the products more consumable than others; the products are available very easily. It is also making progress in the market, which increases the market for skincare products. Moisturizing cream market share increases the market value.
Due to the growing Market trend, many companies are trying to make different products that create havoc. As the demands ids growing, the companies have to have innovative ideas that can create a place in the market. The more innovative and attractive the product is the more consumers will buy it.
The continuous growth of skincare products and personal care companies creates many opportunities in the worldwide market. Many businesses can acquire this skincare world and explore by making innovative products, increasing the opportunities and growth of the companies. As the awareness about using products to keep skin rejuvenating is increasing, the using the products is also increasing, making the business grow. The moisturizing cream market trend has many advantages.
There are several restrains which could impact the growth of the market. One of the main restrain is creating forged products. Many known companies produce products that are sold at a high value. They have already established themselves; imitating or creating forged products could decrease the market value, decreasing the moisturizing cream market size. The imitation of any known product could be a market loss in total. Another key could be using of wrong ingredients in the creams, which could be a poisonous thing for skin types; things used in the moisturizing cream should be made according to skin types using the ingredients that could irritate a particular skin but playing with the ingredients can also decrease its market value.
Cumulative evaluation of the market
The attractiveness of the market has been depicted in the report. A diverse range of market variables has been identified and investigated to influence the industry's growth during the forecasted period. The opportunities, drivers, challenges, and restraints that have been mentioned could positively as well as negatively impact the performance of the market in the future. Based on the moisturizing cream market analysis, one could well depict that the market would grow tremendously in the future by creating different aspects of skincare. However, in this business, one has to be very careful by using correct and non-toxic products to blunder the consumers' skin.
Overview of the main market segments
The market can be further segmented based on the product type as emollients, ceramides, occlusive, humectants, and many more. The based on the MRFR analysis, the emollients hold the most market share. It is analyzed as these will register the more number of CAGR in the review period. It is expected to increase the moisturizing cream market size rapidly.
The market can be divided into two categories: premium and mass. By the MRFR analysis, it is expected that the mass category could make the high market share and make the highest CARG in the period of review.
It is basically what range of the consumers affect the market, the group that affects is children and adults. In 2018 it depicted that the adult group topped the share market, and it is also expected that they will hold the position shortly.
By distribution channel
The worldwide market has been categorized based on the distribution segments, one is store-based, and the other is non-store-based. The store-based segment has again been divided into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is expected to make the higher number shortly. However, the non-store-based channels are expected to make a higher growth rate from 2019 to 2024.
The moisturizing cream market in North America has further been classified into the US, Mexico, and Canada. The European market has been segmented into the UK, Germany, Spain, France, Italy, and Europe. Asia-Pacific has been classified into Japan, China, India, Australia, New Zealand, and Pacific Asia. The moisturizing cream market in the rest of the world has been segmented into South America, Africa, and the middle east.
Competitive intensity in the industry
The moisturizing cream market is considered to be one of the beneficial markets for the beauty industry. As moisturizing cream is medicine in skins, this industry provides many good properties due to several skin issues. Some of the main global businesses that have played a dominant role in expanding the moisturizing cream market size are listed below.
Recent market developments
The analysis of the moisturizing cream market has been presented in the report. Several strategic frameworks and many types of ingredients and key factors have been used to analyze the market share. All factors like skin types, products, consumers, etc., have been depicted in the report with full research. The detailed moisturizing cream market analysis has increased the richness of the market study. Additionally, it has helped to determine the growth potential of the industry during the forecasted period. All the moisturizing cream market trends have been creating new trends worldwide.
By product type
By consumers group
By distribution channel
Frequently Asked Questions (FAQ) :
global moisturizing cream market is anticipated to procure the market value of USD 16.8 billion by 2027.
global moisturizing cream market is likely to expand at a CAGR of 3.9% by 2027.
global moisturizing cream market is segmented into type, category, distribution channel, consumer group, and region.
North America is anticipated to account for the largest revenue share during the forecast period owing to the expanding beauty and personal care industry.
Unilever PLC (U.K.), The Face Shop Co., Ltd. (South Korea), Innisfree Corporation (South Korea), and Johnson & Johnson Services, Inc. (U.S.) are some of the renowned players in the global moisturizing cream market.