The global Australia Skincare Products Market is estimated to be valued at US$ 2338.37 Bn or in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
The Australia skincare products market comprises facial care, body care, and sun care products. Skincare products assist in protecting and improving skin texture and health. Growing awareness regarding benefits of using natural and organic skincare ingredients is driving demand.
Market key trends
One of the key trends in the Australian skincare products market is the rising demand for organic and natural skincare products. Consumers are increasingly aware about harmful effects of chemical-based skincare products and are preferring organic products which are certified and contain natural active ingredients. According to the Australian Organic Market Report 2019-2020, the organic personal care market grew 32.7% from 2018-2019 driven by high demand for natural based skincare products. Organic skincare products also appeal to health-conscious Gen Z and millennial population. Environmental concerns and need for sustainable options are also boosting organic skincare products market in Australia.
Segment Analysis
The Australia skincare products market is segmented by product type into face care, body care, and sun care. The face care segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is due to the increasing demand for anti-aging products and solutions among middle aged and older consumers in Australia. Additionally, growing awareness about treating acne, dark spots, and other skin issues through effective face care products is further propelling the growth of this segment.
Key Takeaways
The global Australia Skincare Products Market Demand is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing health and wellness awareness among Australian consumers.
Regional analysis
Victoria region holds the largest market share currently due to the presence of major manufacturers and distributors in this region. However, the Queensland region is expected to grow at the fastest pace during the forecast period due to rising disposable incomes and growing product promotion through social media platforms in this region.
Key players
Key players operating in the Australia skincare products market are Beiersdorf AG, L'Oreal SA, Procter & Gamble, Unilever, Bioderma Laboratories, Clarins Group, Dermalume Skincare, Johnson & Johnson Inc., Estee Lauder Inc., Miranda Kerr Pty Ltd (Kora Organics), Jurlique International Pty Ltd, and Natio Australia.
The global Australia skincare products market size was valued at US$ 2338.37 Bn in 2023. Key players like Beiersdorf AG, L’Oreal SA, and Procter & Gamble dominate the market due to their wide distribution networks and strong brand recognition in the country.
For More Details On The Report, Read- https://www.newsanalyticspro.com/growth-of-the-australia-skincare-products-market-share-analysis/
