A recent report by Grand View Research says that the skin care products market size is expected to reach $196.67 billion USD by 2024. 

What factors are impacting growth?

The consumers’ demand for organic face creams, sunscreens and body lotions is one influence. The development of  novel organic skin care solutions are expected to boost the market growth.

Another factor is the emergence and growth of e-commerce trading platforms. The increased prominence of e-commerce websites is further anticipated to drive the market – especially in riving the deamdn for organic products. Niche product vendors would be able to cater to a wide base of consumers.

Key industry players in the skin care category include Kao Corporation, Beiersdorf AG, L’Oréal S.A., Avon Products Inc., Johnson & Johnson, Estee Lauder Companies Inc., Unilever PLC, Procter & Gamble Co., Colgate-Palmolive Company, and Shiseido Company.

The natural raw material suppliers for organic substances are anticipated to dominate the value chain to offer exclusive ingredients, along with creating new varieties for consumers.

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