The global Australia Skincare Products Market is estimated to be valued at US$ 2338.37 Bn or Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Skincare products aim to cleanse, treat & protect the skin by preventing or reducing early aging signs, acne or dark spots. Products like cleansers, creams, toners, masks & serums offer anti-aging benefits and keep skin hydrated.
Market key trends:
One key trend in the Australia skincare products market is the rising preference for natural & organic ingredients. Consumers are increasingly opting for clinically-proven natural ingredients to avoid potential side effects of synthetic chemicals. They believe natural products are gentle yet effective. As a result, brands are introducing natural lines containing ingredients like plant stem cells, probiotics and marine minerals to cater to this demand.
The Australia skincare products market is dominated by the facial care segment, accounting for over 35% of the market share. Facial care products such as facial cleansers, toners, serums, and moisturizers are considered as daily essentials in daily skincare routines of consumers. Facial care segment witnesses higher sales as these products form the basic building block of any skincare regime.
The global Australia skincare products market is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing working women population and growing awareness about skincare products.
The Australia Skincare Products Market is dominated by New South Wales region accounting for over 30% of the market share. New South Wales has the highest number of working women population and urbanization rate which increases the demand for advanced skincare products.
Key players operating in the Australia skincare products market are Beiersdorf AG, L’Oréal SA, Procter & Gamble, Unilever, Bioderma Laboratories, Clarins Group, Dermalume Skincare, Johnson & Johnson Inc., Estee Lauder Inc., Miranda Kerr Pty Ltd (Kora Organics), Jurlique International Pty Ltd, and Natio.