by Skin barrier products are becoming increasingly important with the exponential growth of the global skin care industry. Skin barrier products help maintain the protective function of the skin by shielding the epidermis from various environmental factors and preventing transepidermal water loss. Products such as barrier creams, ointments, and lotions coat the skin surface and restore its natural protective function. The global skin barrier products market is gaining significant traction due to the rising awareness about skin care and escalating demand for protective, nourishing, and restorative skin care routines.
The global Skin Barrier Products Market is estimated to be valued at US$ 1063.94 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing popularity of natural and organic skin care products is one of the defining trends in the skin barrier products market. Consumers are increasingly inclined towards natural formulations that are free from toxic chemicals, parabens, sulfates, and other harsh synthetic ingredients. They are also focused on the source and ethical manufacturing of products. This has prompted manufacturers to utilize natural emollients, humectants, and occlusives sourced from plants and herbs to develop clean label, greener skin barrier product lines. Innovation in delivery formats is another key trend with the introduction of innovative formulations like gels, sprays, and milks besides conventional creams and ointments.
Porter’s Analysis
Threat of new entrants: The skin barrier products market has moderate threat of new entrants due to established brands, supply chain mechanism and high R&D and marketing costs.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of alternate products and easy availability of substitutes. However, specialized products have less bargaining power of buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to presence of many suppliers and established supply chains. Suppliers have less influence on pricing.
Threat of new substitutes: Threat of new substitutes is low as skin barrier products have specialized application with limited substitutes.
Competitive rivalry: The competitive rivalry is high due to presence of many global and regional players competing on basis of product innovation, quality and pricing.
Key Takeaways
The global Skin Barrier Products Market is estimated to be valued at US$ 1063.94 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
The Global Skin Barrier Products Market Size is expected to witness high growth. The North America region dominates the market currently due to growing elderly population, increasing prevalence of skin diseases and technological advancements in wound care management. Asia Pacific is expected to witness fastest growth during forecast period owing to improving healthcare infrastructure, increasing medical tourism, and rising skin diseases due to pollution and changing lifestyle in countries like India and China.
Key players operating in the skin barrier products market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Danaher (US), Becton, Dickinson and Company (US), Agilent Technologies, Inc.(US), Bio-Rad Laboratories, Inc. (US), F.hoffmann-La Roche Ltd.(Switzerland), Illumina, Inc.(US), QIAGEN N.V.(Germany), 10x Genomics(US), Oxford Nanopore Technologies Ltd.(UK), Pacific Biosciences of California, Inc.(US), Takara Bio Inc(Japan), BGI Group(China). Key players are focusing on new product launches and expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
