Research Nester has released a report titled “Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand Professional Skincare Products Market – Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The World Bank, in the year 2018, in one of its statistics stated that 83% men and 72% women were recorded to be employed as per the employment status of millennials around the world.
The statistics portray the growing employment status of the millennials worldwide which is also contributing to the significant increase in their average spending, and further raising the preferences for innovative and quality products, therefore influencing the adaptation rate of professional skincare products. Moreover, backed by the increasing aging population, the demand for skincare products such as anti-ageing, treatment of wrinkles and others is also increasing. Additionally, the increasing competition amongst the players operating in the professional skincare products market is also anticipated to drive the growth of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market over the forecast period.
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The Canada professional skincare products market is anticipated to achieve a CAGR of 3.2% during the forecast period, i.e. 2021-2028. Moreover, the professional skincare products market in Taiwan, Vietnam, Philippines, Hong Kong, Singapore and Thailand are anticipated to gain a CAGR of 6.2%, 8.2%, 4.6%, 4.7%, 5.7% and 5.2% respectively during the forecast period. Further, the market in Canada registered the largest market value of USD 387.9 million in the year 2019 and is further anticipated to reach a value of USD 504.0 million by the end of 2028.
The Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market is segmented by composition into alpha-hydroxy acids, polyhydroxy acids, beta-hydroxy acid, hydroquinone, kojic acid, retinoids and others. Among these segments, the beta-hydroxy acid segment registered the largest market share of 25.50% along with a market value of USD 390.2 million in the year 2019 for the total market in the nations of Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand. Salicylic acid is the only form of beta hydroxy acid used in skincare products. This acid can penetrate deeper into the skin pores and thereby exfoliates the dead skin cells inside skin pores. Further, the beta-hydroxy acid segment in the market in Canada held the largest market value of USD 98.9 million in the year 2019 and achieve a CAGR of 3.4% during the forecast period. Additionally, the segment in the market in Canada is also anticipated to gain an absolute $ opportunity of USD 27 million during the forecast period.
However, concerns for the need of the product manufacturers to develop skincare products that meet the regulations and policies of several nations worldwide, coupled with the stringent manufacturing regulations and the presence of counterfeited products are some of the factors anticipated to restrict the growth of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market over the forecast period.
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This report also studies existing competitive scenario of some of the key players of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market, which includes profiling of L’Oreal S.A. (EPA: OR), Unilever (AMS: UNA), Procter & Gamble (NYSE: PG), Beiersdorf Global (ETR: BEI), Johnson & Johnson Services, Inc., New Avon Company, Colgate-Palmolive Company (NYSE: CL), Revlon (NYSE: REV) and Clarins.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand Professional Skincare Products Market – Demand Analysis & Opportunity Outlook 2028”, analyses the overall Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market in the near future.
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