Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled “South Africa Professional Skincare Products Market Report (2023-2028),” the market is estimated at USD 25.08 billion in 2023. It is expected to register a CAGR of 8.61% during the forecast period.
South Africa’s professional skincare market is estimated to experience significant growth, driven by the rising demand from women and young consumers. Multifunctional skincare commodities that protect the skin from harsh environmental conditions, simultaneously promoting even and light skin tones, are the most popular. Furthermore, with the expanding middle class and augmented purchasing power in various socio-economic categories, there is a demand for cost-effective, high-quality skincare products that cater to the needs of different ethnic groups.
|Market Size (2023)
|USD 25.08 billion
|Market Size (2028)
|USD 37.90 billion
|Value (USD billion)
|Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends
|Key Market Drivers
|The rising demand from women and young consumers.
|The expanding middle class and increased purchasing power in various socio-economic categories.
Who are the Top Companies in the South Africa Professional Skincare Products Market?
The South African professional skincare products market is competitive, with the presence of numerous local and international companies competing for a major market share. The market players are competing using various strategies ranging from advertisements and brand building via proven claims such as organic, clinically proven, cruelty-free, etc.
The noteworthy players holding the South African professional skincare products market are:
- Environ Skin Care (Pty) Ltd
- Essel Products
- Dr. Gobac
- Vitaderm (pty) Ltd
- Elixir Fusion
- Jonger Professional Skin Care
- Future Beauty Labs (BYOMA)
- LVMH (Benefit Cosmetics LLC)
- Unilever (Tatcha LLC)
Other Reports That Might Be of Your Interest:
Key Highlights from the South Africa Professional Skincare Products Market Report:
Increasing Demand from the Growing Aging Population is
- The professional anti-aging products market is experiencing accelerating demand, driven by a rapidly growing demographic looking to prevent wrinkles, sun damage, and other signs of diminishing youthfulness. This demand is particularly robust for anti-wrinkle face creams, serums, and eye creams.
- Therefore, skin care manufacturers are increasingly emphasizing research and development on active ingredient-based professional anti-aging products. The population is continuing to drive demand for professional anti-wrinkle remedies and other age-concealing products.
Online Sales Segment to Dominate the Market
- The sales of professional skincare products via online stores are experiencing rapid growth due to the convenience that it offers to consumers. These channels are gaining market share with respect to revenue, popularity, and a diverse range of products from both local and international brands.
- Beauty shoppers are increasingly valuing the convenience of online shopping, inspecting product reviews, sharing skincare tips online, and receiving automatic refills of regularly used products rather than just focusing on price and promotions. This presents immense opportunities for brand owners and retailers to capture a developing market.
What are the Latest Developments in the South Africa Professional Skincare Products Market?
- In March 2023, Byoma revealed its plans to launch Moisturising Gel Cream SPF 30. As per the brand’s website, this product is ultra-effective and is claimed to be a deeply hydrating and non-greasy SPF 30 daily moisturizer.
- In March 2023, Tatcha launched The Silk Serum. It claims that it is a wrinkle-smoothing formula with a retinol alternative.
Mordor Intelligence has Segmented the South Africa Professional Skincare Products Market Based on Type, Packaging Type, and Distribution Channel:
- By Type
- Face Care
- Cleansers & Exfoliators
- Face Masks
- Face Moisturizers
- Other Face Care Products
- Body Care
- Body Lotions/Moisturizers
- Body Wash and Shower Gel
- Other Body Care Products
- Face Care
- By Packaging Type
- By Distribution Channel
- Offline Retail Stores
- Online Retail Stores
- Specialist Retail Stores
- Convenience/Grocery Stores
- Pharmacies/Drug Stores
- Online Retail Channels
- Other Distribution Channels
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the South Africa Professional Skincare Products Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.