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In 2022, the market size of moisturizing cream ID'd as USD 11.1 billion. Moisturizing Cream market is forecasted to accelerate from USD 11.9214 trillion to USD 21.103841 trillion between 2023 and 2032 at a rate of 7.40% by the year 2032. Skin problems are picking up pace as individuals get to know skincare products and personal care concerns are seeing continuous growth which are top factors responsible for market growth.
The capabilities of moisturizing creams are affected by multiple elements that play the role of market drivers in the skin care and beauty sector. A significant factor is finding about skincare and skin hydration and how valuable it is. Moisturizing creams formulated to nourish and rejuvenate the skin are now accessible to the large number of people who are dedicated to the practice of daily skincare for both treatment and preventive purposes.
Demographic factors often play the major role in moisturizing cream market. Age and skin care concerns are important for consumers to decide on the moisteners they need for their skin. By getting insights into and fulfilling the varied demands of the audience in skincare businesses, the brands can release different moisturizer types and textures by featuring specific solutions that appeal to the user categories, keeping the market relevant and capturing the interest for an extended period.
Economic variables such as consumer discretionary income and consumption expenditure towards personal care products are the major drivers of moisturizing cream market. Economic stability and increased disposable income often lead to higher expenditure on products for pleasure, in the category “premium or specialized skincare products”. The consumers usually buy higher investment products with the newly improved formulas during the periods of economic growth.
Brand image and marketing strategies are two ingredients that make or break the perception of the consumer as far as the moisturizing cream market is concerned. Brands in the skincare category that are well-established, but also probably those that have a reputation of producing high-quality, dermatologist recommended, and cruelty-free products, normally enjoy strong brand loyalty amongst their customers. Highlighting the features such as hydration, anti-aging, and natural ingredients of the latest products in an effective marketing campaign by being significantly noticeable in the market and affecting the consumer choices in the competitive moisturizing cream market.
The technological developments in moisturizer formulations have greatly helped in the growth of the market. Technologically advanced moisturizing creams with ingredients like hyaluronic acid, peptides, and antioxidants not only improve their working skills but also make them more alluring and attractive. Innovations in technology similarly have the ability to influence the aesthetic nature of moisturizers, appearing with appealing packaging and easy to operate dispensers that tap into contemporary customer taste.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Product Type, Category, Consumers Group, Distribution Channel, and Region |
Moisturizing Cream Market Highlights:
Global Moisturizing Cream Market Overview
Moisturizing Cream Market Size was valued at USD 11.9214 billion in 2023. The Moisturizing Cream market industry is projected to grow from USD 12.80358 Billion in 2024 to USD 21.10384124 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2024 - 2032). Skin concerns are rapidly expanding as people become more informed about skincare products, and personal care companies continue to experience steady growth are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, M.R.F.R. Database, and Analyst Review
Moisturizing Cream Market Trends
New product launches are driving the market growth.
Companies focus on creating innovative moisturizing solutions to enhance individuals' skin conditions effectively. In addition, they are developing various technologies that will offer consumers a virtual interface and provide recommendations for suitable skincare products based on their skin type. For instance, Merle Norman Cosmetics, a beauty tech start-up based in Singapore, introduced an artificial intelligence-powered skin diagnosis tool in March 2020. This tool lets users receive personalized skin recommendations by assessing their health through the product's selfie mode. Face creams are categorized into three types of sun protection, skin brightening, and anti-aging. Body lotions are divided into mass-market body lotions and premium body lotions. Over the coming years, the growing demand for skin-brightening face creams is expected to drive market expansion. Moreover, these creams effectively reduce the appearance of acne scars, freckles, age spots, and discoloration, leading to increased demand. This factor drives the market CAGR.
Additionally, the market is influenced by various significant factors, including the rising occurrence of skin issues and the expanding awareness of skincare products in different areas. Consumers are becoming increasingly conscious of the advantages and applications of these products, resulting in a strong inclination to experiment with them. The market is also fueled by the rising number of skin-related issues among individuals. Additionally, these products easy availability and cost-effectiveness contribute to their high consumption. The skincare market is continuously expanding, creating opportunities for businesses in the market. By developing innovative products, companies can tap into the growing demand for skincare and personal care items, thus fueling their growth. As awareness about the importance of maintaining healthy and rejuvenated skin increases, so does the usage of skincare products, which further drives business growth. The moisturizing cream segment, in particular, demonstrates a positive market trend and offers numerous advantages. Thus, driving the moisturizing cream market revenue.
Moisturizing Cream Market Segment Insights
Moisturizing Cream Product Type Insights
Based on product type, the Moisturizing Cream market segmentation includes emollients, ceramides, occlusive, and humectants. The emollient segment dominated the market; emollients are essential to moisturizing creams as they enhance skin hydration and softness. These substances effectively lock in moisture, prevent water loss, and form a protective barrier on the skin. Consequently, emollients are highly effective in moisturizing and soothing dry, rough, and damaged skin. Moreover, emollients have diverse applications in skincare, cosmetics, and pharmaceuticals. They are commonly found in cosmetic products like lotions, creams, and serums, contributing to their smooth and soft texture. In the pharmaceutical industry, emollients are utilized in ointments and balms for their moisturizing and protective properties on the skin.
Moisturizing Cream Product Category Insights
The Moisturizing Cream market segmentation, based on category, includes premium and mass. The mass segment dominated the market; Mass-market moisturizing creams offer a more economical option, ensuring they are within reach of a larger group of consumers. These creams have a lower price tag than high-end or luxury ones, attracting budget-conscious individuals who desire effective skincare solutions at a more affordable cost. Additionally, mass-market moisturizing creams concentrate on meeting the basic skincare requirements of the public. Their formulas are frequently created to deliver vital hydration, nourishment, and protection to the skin. Typically, these products have simpler formulations containing fewer specialized ingredients, making them suitable for everyday use by a wider variety of consumers.
Moisturizing Cream Consumers Group Insights
The Moisturizing Cream market segmentation, based on consumers group, includes adults and children. The adult segment dominated the market; Adults generally have more extensive skincare requirements than other consumer groups. This is because they are more prone to issues like dryness, dullness, and other skin concerns, which can be attributed to aging, lifestyle choices, and environmental stressors. As a result, adults actively search for moisturizing creams that can effectively address these specific skincare needs and help them maintain healthy and appealing skin. Additionally, adults typically possess a higher disposable income, allowing them to invest in various skincare products, including moisturizing creams. This financial capability allows them to explore a wider range of products, including those with higher price points or specialized formulations.
Moisturizing Cream distribution channel Insights
Based on distribution channels, the Moisturizing Cream market segmentation includes store-based and non-store-based. The store-based segment dominated the market; Store-based channels frequently provide customized customer service. Skincare experts or beauty consultants in brick-and-mortar stores can offer knowledgeable guidance, suggest appropriate products tailored to the customer's skin type and concerns, and address any questions or uncertainties. This individualized support improves the overall shopping experience and instills confidence in the effectiveness of moisturizing creams, ultimately contributing to the prominence of the store-based sector.
Figure 1: Moisturizing Cream Market, by Distribution Channel, 2022 & 2032 (USD billion)
Source Secondary Research, Primary Research, M.R.F.R. Database, and Analyst Review
Moisturizing Cream Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Moisturizing Cream market will dominate due to the region's high demand for personal care products.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K.U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBALMOISTURIZING CREAM MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, M.R.F.R. Database, and Analyst Review
Europe's Moisturizing Cream market accounts for the second-largest market share due to the frigid cold climates and long winter seasons, causing dull and dry skin. This factor significantly increases the demand for moisturizing products in the Region. Further, the German Moisturizing Cream market held the largest market share, and the U.K.U.K. Moisturizing Cream market was the fastest-growing market in the European Region.
The Asia-Pacific Moisturizing Cream Market is expected to grow fastest from 2023 to 2032. This is because of the region's personal care industry growth. Moreover, China’s Moisturizing Cream market held the largest market share, and the Indian Moisturizing Cream market was the fastest-growing market in the Asia-Pacific region.
For instance, Americans are pursuing a physically active lifestyle and becoming more active.
Moisturizing Cream Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the moisturizing cream market grow even more. Market players are also engaging in diverse strategic initiatives to broaden their international presence. Key market advancements encompass novel product introductions, contractual arrangements, mergers and acquisitions, increased investments, and partnerships with other entities. The Moisturizing Cream industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Moisturizing Cream industry to benefit clients and increase the market sector. The Moisturizing Cream industry has offered some of the most significant medical advantages in recent years. Major players in the Moisturizing Cream market, including Beiersdorf AG (Germany), L'Oréal S.A. (France), The Estée Lauder Companies Inc U.S.U.S., Company Shiseido Japan, Johnson & Johnson Services Inc U.S.U.S., The Procter & Gamble Company in the U.S.U.S., The Face Shop Co.Ltd., and others, are attempting to increase market demand by investing in research and development operations.
Charlotte Tilbury, a highly acclaimed makeup artist and recipient of an M.B.E., launched her renowned beauty company in September 2013, achieving unprecedented success and receiving widespread acclaim. The collection of magical makeup and innovative skincare products has gained a devoted following among supermodels, celebrities, entrepreneurs, and iconic figures. It has rapidly become one of the fastest-growing beauty companies worldwide, garnering numerous awards and setting records in various countries, channels, and categories. Recently, Charlotte Tilbury introduced a new addition to its lineup, the "Magic Body Cream," formulated with powerful ingredients like hyaluronic acid and caffeine to improve skin texture. This product draws inspiration from the brand's best-selling "Magic Cream Moisturizer."
The Procter & Gamble Company, an American multinational consumer goods corporation established in 1837 by William Procter and James Gamble, is headquartered in Cincinnati, Ohio. Recently, Procter & Gamble introduced a fresh shopping experience on Shopee, a virtual marketplace in Southeast Asia, to cater to the ever-changing demands of modern consumers. Recognizing the increasing tech-savviness of customers, the company aims to incorporate emerging technologies to enhance consumer engagement and the overall shopping experience. Additionally, Procter & Gamble is also venturing into the Metaverse. Given the intense competition in the moisturizer industry, other renowned market players are expected to invest in innovative technologies to attract a larger customer base.
Key Companies in The Moisturizing Cream Market Include
- Beiersdorf AG (Germany)
- L'Oréal S.A. (France)
- The Estée Lauder Companies Inc, US
- Company Shiseido, japan
- Johnson & Johnson Services, Inc, U.S.U.S.
- The Procter & Gamble Company in the U.S.U.S.
- The Face Shop Co.Ltd
Moisturizing Cream Industry Developments
For Instance, February 2023 Keomi Beauty, an Indian beauty and skincare company, announced its plans to strengthen its product lineup and introduce new items by April 2023. The upcoming releases will include the Daily Youth Serum, which offers moisturizing and anti-aging properties, the Sunscreen SPF 50 PA+++, and the Hyaluronic Acid Serum.
For Instance, January 2023 Charlotte Tilbury, a skincare and makeup brand based in the U.K.U.K., unveiled its latest "Magic Body Cream." This product uses hyaluronic acid and caffeine to enhance the skin's texture. Inspired by the success of their best-selling product, the "Magic Cream Moisturizer," Charlotte Tilbury created this new addition to their product range.
Moisturizing Cream market segmentation
Moisturizing Cream Product Type Outlook
- Emollients
- Ceramides
- Occlusive
- humectants
Moisturizing Cream Category Outlook
- Premium
- Mass
Moisturizing Cream Consumers Group Outlook
- Adult
- Children
Moisturizing Cream Distribution Channel Outlook
- Store-based
- Non-store based
Moisturizing Cream Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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