(I-BusinessNews.Com, March 09, 2019 ) As per the new report published by Fact.MR, the global skin benefit agent marketis set to surpass 23,400 tonnes in terms of volume by 2026, reflecting above-average CAGR between 2017 and 2026. Rising level of awareness about skincare among consumers all over the world is fuelling the demand for skin benefit agents. Skin is one of the important parts of the body and needs constant care being the foremost layer. Human skin is fragile and sensitive, hence, can easily develop condition such as skin blemishes, dryness, oiliness, acne, allergy, etc. Modern consumers are increasingly seeking for skin care therapies, potions and remedies that help them maintain their skin or event improve it.
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For many, having a healthy skin usually is all they want, but some desire to enhance their skin to extraordinary scale. The skin as a shielding for underlying tissues from desiccation, infection and external stress, so it important to nourish it with appropriate agents that do not have any side effects. Demand for skin benefiting agents continues to escalate owing to their standout characteristics, which is beneficial for the skin in many ways. It has been observed that people all over the world are spending more of skin care product. This, in turn, is expected to partly support the growth of the global market for skin benefit agents. In addition, skin care brands are coming up with products that contain rare skin benefit agents. These products are catering to diverse skin care needs. Skin care products have become popular among consumers from different backgrounds. Skin benefit agents are helpful for consumers from all age groups. They can be beneficial in acre reduction, wrinkle and other common skin associated issues. Also, these agent could be used for improve skin quality and skin protection. Popularity of skin benefiting agents is anticipated to spiral further in the years to come.
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Key Takeaways from the Report Include:
Among regions, Asia Pacific excluding Japan (APEJ) is expected to remain highly attractive market for skin benefit agents in 2017 and beyond. This is primarily owing to increasing use of cosmetic and skin care products among consumers in the region. In terms of volume, the market in APEJ is projected to increase at 5.8% CAGR during the assessment period.
Based on product type, the beta-hydroxy AcidS is expected to hold to top position over 2026. Currently, the segment account for more than 22% market share in terms of volume. Towards the end of forecast period, the segment is estimated to surpass 5,500 tonnes, reflecting a CAGR of 5.9%.
On the basis of functionality, the active agents segment will continue to outperform the additive segment in the forthcoming years. By 2026-end the active agent segment is expected to command for close to two-third market share in terms of volume.
Competition Tracking
Fact.MR in its report has profiled key market players, including Akzonobel N.V., Sederma Inc., Procter & Gamble Co., Unilever, Beiersdorf A.G., BASF SE, Clariant AG, Evonik Industries AG, L’oreal, and Avon Products.
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