Skin Care Market (2018–2029)
The global beauty industry is set to be worth $670.2 billion in 2025, with skin care products among the sector’s biggest revenue-generating items.
If you’re thinking about starting a skin care line, you need to first have an overview of the skin care market. This starts with answering the question: How much is the skin care industry worth?
Global skin care market size: table
|
Year |
Global skin care market revenus |
Annual change |
|
2018 |
$160.0 billion |
|
|
2019 |
$163.8 billion |
+2.4% |
|
2020 |
$158.4 billion |
-3.3% |
|
2021 |
$164.4 billion |
+3.8% |
|
2022 |
$168.6 billion |
+2.6% |
|
2023 |
$182.9 billion |
+8.5% |
|
2024 |
$188.6 billion |
+3.1% |
|
2025 |
$194.3 billion |
+3.0% |
|
2026 |
$201.0 billion |
+3.4% |
|
2027 |
$209.0 billion |
+4.0% |
|
2028 |
$213.7 billion |
+2.2% |
|
2029 |
$218.0 billion |
+2.0% |
Global skin care market size: 2018–2025
According to analysts’ latest estimates, the skin care industry is forecast to bring in revenues totaling $194.3 billion in 2025. This will make it the second top-selling product in the beauty industry, after personal care, whose total revenue is expected at $291.7 billion. 2025’s expected revenues is set to mark a 3% increase from 2024’s $188.6 billion and a slight slowdown from the previous year’s annual increase of 3.1%.
Revenues from the sector in 2025 are also set to make up 29% of the beauty industry’s total. In other words, more than $1 out of every $4 global consumers spend on beauty products is expected to be on skin care-related items.
The industry has largely been growing since 2018, with annual revenues having fallen only once, by 3.3% in 2020, as a result of the COVID-19 pandemic. Despite the tumble, the skin care industry’s total revenues are still set to increase by $34.3 billion over this period. This is a 21.4% overall increase and an average annual growth rate of 2.9%.
Global skin care market size: 2026–2029
Industry experts’ forecasts show that annual revenues from skin care products will continue to grow year after year until at least 2029.
In 2026, the skin care industry’s growth rate is set to increase to 3.4%, to total $201 billion in total revenues. This will accelerate even more in 2027, to 4%, bringing the year’s overall revenues to $209 billion. Growth rates are predicted to slow in 2028, to 2.2%, for expected revenues of $213.7 billion. In 2029, the skin care sector is set to be worth $218 billion, growing 2% year on year.
By analysts’ estimates, the global skin care sector is expected to increase its total revenues by $23.7 billion from 2025 to 2029—registering an overall increase of 12.2% and an average annual growth rate of 2.9%.