PUBLISHER: Allied Market Research | PRODUCT CODE: 1414952
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414952
According to a new report published by Allied Market Research, titled, "Body Lotion Market," The body lotion market was valued at $56.4 billion in 2022, and is estimated to reach $85.3 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032.
The body lotion market encompasses a wide range of products designed to moisturize & nourish the skin, catering to diverse consumer needs. This market includes offerings from various brands, including natural, organic, and specialty formulations. Key drivers of its growth include increase in awareness of skincare, rise in disposable incomes, and change in consumer lifestyles. Moreover, it caters to a broad demographic, from health-conscious individuals seeking natural options to those desiring luxurious or therapeutic skincare experiences.
The cosmetics and personal care industry is experiencing a new range of developments in the technology field. These technologies help in bringing variety of ingredients that offer more benefits to the users, improvements in production & manufacturing processes, and further help reduce waste & maintain sustainability. This allows brands to use variety of plant species, and due to being developed in aeroponic culture, the ingredients are more highly concentrated. Moreover, skincare brand Vaseline, has introduced Vaseline Radiant X, focused on brown and black skin tone, developed using Unilever's preoperatory ultra-hydrating lipids.
Introduction of new technologies in the cosmetics and personal care industry is another key factor for market growth. With rise in demand for different personal care products which are designed to meet specific skincare requirements, technological development is playing a major role. Advanced production methods which assist manufacturers in extracting ingredients from unique plants, including plant milking technology from Clariant AG for manufacturing body lotion. Furthermore, technology affects the packaging, under which companies use bioplastics, which has a fast decomposition rate compared to petroleum plastic.
The body lotion market is segmented into skin type, end user, packaging distribution channel, and region. By skin type, the market is divided into dry skin, oily skin, normal skin, sensitive skin, and others. Depending on end user, it is categorized into male, female, and kids. By packaging, it is segmented into bottle, tube, pump, and others. As per distribution channel, it is segmented into supermarket & hypermarket, specialty store, online retail, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, South Africa, and rest of LAMEA).
The players in the body lotion market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the market. Some of the key players profiled in the market analysis include The Procter & Gamble Company, Groupe Clarins, Hindustan Unilever Limited, The Estee Lauder Companies Inc., Galderma S.A., Beiersdorf AG, Revlon, Inc., Avon Products, Inc, Coty Inc., and Johnson & Johnson Services, Inc.
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