The skin care industry is a multi-billion dollar business, estimated to be worth US 43 billion per year. It has steadily grown in the past years, and is expected to grow 6.8% more this year. Europe and the US are the biggest markets of the industry, accounting for over 50% of global skin care sales.
Much research and marketing are being poured into certain segments of the skin care industry. Recently, there has been a resurgence of natural/herbal products. Men who are becoming more aware about grooming are driving the men’s skin care industry,which is rapidly growing as well.