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The skincare products market is estimated to grow in upcoming years, according to Technavio.
Moreover, the growing adoption of home salons and spa services is notably driving market growth. Numerous providers offer home salon and spa services in the market.
CBD Skincare Products Influence the Market
The growing demand for cannabidiol (CBD) skincare products is a primary trend in the market. Cannabidiol (CBD), the non-addictive compound derived from hemp or marijuana, has gained widespread recognition for its numerous skin benefits. This has led to its incorporation into a variety of skincare products, including oils, creams, lotions, balms and serums.
Counterfeit Beauty Products Hinder Growth
On the other hand, major challenges hindering the market growth include the availability of counterfeit skincare products, which may impede the growth of the market, per analysts. Counterfeit beauty and personal care products are claimed to pose health risks to users. The rise of e-commerce has contributed to a significant increase in the global sales of counterfeit goods.