Skincare sales set to reach $181bn by 2025 as consumers embrace ‘skinimalism’
Skincare is set to set the global beauty industry alight over the coming years, with the category expected to hit $181bn by 2025, new research from Euromonitor International suggests.
Growth looks set to be driven by the consumer quest for “skinimalism” - happening in the form of simplified brand messaging, formulations and routines, as well as growing consumer understanding of, and demand for, active ingredients, Euromonitor said.
“Brands that play on trust and transparency, as well as those with science-backed credentials and “clinical” efficacy will continue to resonate well,” Euromonitor Beauty and Fashion consultant Kayla Villena said.
E-commerce sales, backed by virtually enabled at-home experiences, are likely to account for a significant proportion of the growth – building on the 23% boost in-commerce sales of beauty and personal care products seen over 2020-2021.
“Beauty brands that are purpose-driven, digitally-savvy, clinically-backed, price accessible and approachable are most likely to thrive, and continue to do so,” Villena added.