In 2023, the global moisturizer market was projected to be worth USD 10.60 billion. The market is expected to reach USD 14.40 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.48% between 2024 and 2030.

Customers' skincare routines increasingly include moisturizing products because it's critical to maintain the skin's hydration. Numerous significant skin benefits, including increased skin hydration, smoothing and softening the skin, reducing water loss, and preserving and enhancing the skin's texture and quality, are provided by these items. More individuals are investing in high-quality skincare brands thanks to rising disposable incomes, which will accelerate the expansion of the moisturizer market.

Fortune Business Insights™ presents this information in a report titled, "Global Moisturizer Market, 2023-2030."

Information Source: https://www.fortunebusinessinsights.com/moisturizer-market-103869 

List of Key Players Profiled in the Moisturizer Market Report:

• L'Oreal S.A. (France)
• Estee Lauder Inc. (U.S.)
• Unilever Plc (U.K.)
• The Procter & Gamble Company (U.S.)
• Shiseido Co. Ltd. (Japan)
• Beiersdorf AG (Germany)
• Henkel AG & Company, KGaA (Germany)
• Johnson & Johnson Private Limited (U.S.)
• Kao Corporation (Japan)
• Coty Inc. (U.S.)

Segments:

Face Moisturizing Products Witness Strong Preference among Customers Due to their Skincare Characteristics

The market is divided into two categories based on type: face moisturizers and body moisturizers. Due to the growing trend of consumers purchasing skincare products that are simple to include in their daily routines, the face moisturizer category has the biggest market share. Keeping the skin of the face hydrated and healthy is crucial because it is the most visible area of the body. For this reason, people are spending more money on premium face creams that offer hydration and anti-aging properties.

Cream-based Moisturizers to Gain Popularity for Their Skin Protection Benefits

The market is split into gel, lotion, and cream categories based on form. Over the next few years, it is anticipated that the cream category will gain a sizable market share. Customers now prioritize skin protection above all else when performing their skincare routines. Cream-based compositions may effectively shield the skin from damaging UV rays and stop the skin from losing water, which will increase consumer demand for them.

Moisturizing Products to Gain Notable Traction among Men with Rising Popularity of Men’s Skincare

The market is divided into three end-user segments: men, women, and infants & kids. Over the course of the forecast period, the men's segment is expected to grow at a significant rate. In recent years, there has been a noticeable increase in the demand for men's skincare and cosmetic regimens. Men's skincare products are being introduced by a number of upscale cosmetics firms. These elements will encourage males to use moisturizing products.

The global market is examined of geography, covering North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

COVID-19 Impact:

The COVID-19 Pandemic Disrupted Supply Chain Networks and Impeded Market Growth

The COVID-19 pandemic had a negative impact on market growth as developed and developing countries faced severe economic crisis due to a major slowdown in industrial activities. The beauty and cosmetics industries were also adversely affected by the outbreak as travel and movement restrictions were imposed, which reduced customer spending on luxury products.

Many skincare and cosmetic stores were temporarily closed to mitigate the spread of the virus, which further slowed the sales of cosmetics and skincare products. These factors impeded the expansion of the global moisturizer market share.

Report Coverage:

The report offers an elaborative analysis of the industry and focuses on crucial aspects, such as type, form, leading companies, and key end users. The report also offers insights into the latest market trends and underlines top industry developments. In addition to the factors mentioned above, the report covers several factors that have contributed to the market’s growth in recent years.

Drivers and Restraints:

Customers Increase their Spending on Beauty Products, Accelerating Market Growth

Customers are becoming more conscious about their appearance and are taking steps to reverse the signs of aging. The rising disposable incomes of people across the world have motivated them to splurge on high-quality beauty and skincare products. These products can help them maintain their youthful skin despite taking on the stresses of a busy lifestyle and environmental pollution. The growing popularity and spending on skincare products in developing countries is another factor that will expand the moisturizer market size.

However, stringent regulations and the harmful effects of using synthetic beauty ingredients are expected to hinder market growth.

Regional Insights:

Asia Pacific to Dominate the Market Due to Rising Spending on Beauty Products

The Asia Pacific market is predicted to lead the global market share during the forecast period as moisturizing products are becoming quite popular in India and China. Reputed brands, such as Olay, L'Oréal, Kiehl’s, and others, are setting up their production base in China and giving local brands tough competition. Indian customers are also gaining awareness of the benefits of skincare products, which will further spur the product demand in the country.

European countries, such as Finland, Russia, Germany, and Denmark, experience extremely cold climates and long winter seasons, causing dull and dry skin. This factor significantly increases the demand for moisturizing products in the region, thereby contributing to the region’s market expansion.

Competitive Landscape:

Key Companies Adopt Robust Business Strategies to Stay Ahead of Market Competition

Several reputed industry participants are using various strategies, such as collaborations, new product launches, and regional expansion, to help them keep up with their market rivals. These companies are also focusing on launching sustainably produced skincare items to attract more customers. The customizations and heavy discounts offered by these firms will help them grow their market presence.

Key Industry Development:

• February 2023: Shiseido Company Ltd., a leading Japanese cosmetics manufacturer, launched two new moisturizing products under its skincare brand, ’SIDEKICK’. These products are being sold at the SHISEIDO Beauty Square in Japan and through China’s EC (e-commerce) channels.