The skincare products industry in Australia addresses the growing need for hydration, hydration, anti-aging, cleansing, and sun protection. Products such as facial cleansers, toners, moisturizers, essential oils, serums and sunscreens work to keep the skin healthy, smooth and youthful.
The global Australia Skincare Products Market is estimated to be valued at US$ 2,693.81 million in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased product launches have accelerated the growth of the Australia skincare products market. Major market players are continuously investing in research and development to introduce innovative products formulated with natural and organic ingredients that cater to specific skin concerns and needs. For instance, in 2022, Konjac Sponge Australia launched a range of skin cleansing konjac sponges made from plant fibers that gently exfoliate dead skin cells without harsh chemicals. Similarly, in 2021 Dermalogica introduced Age Smart Biorepair Cream, an anti-aging formula enriched with broad spectrum SPF 30. The introduction of such uniquely formulated products aligning with current skincare trends has boosted consumer spending on skincare in Australia.
Segment Analysis
The Australian skincare products market is dominated by the facial care segment which holds over 30% of the total market share. Facial care products like moisturizers, cleansers, toners and anti-aging creams are widely used by Australians due to the harsh environmental conditions in the country. The facial care segment is further divided into several sub-segments like anti-aging, acne control, sun protection etc. Among these, the anti-aging sub-segment leads the facial care segment owing to the growing geriatric population and increasing consumer awareness about aging signs.
Key Takeaways
The global Australia Skincare Products Market Share is estimated to be valued at US$ 2,693.81 million in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Regional analysis:
The Australian skincare products market is dominated by the Eastern region which accounts for over 40% of the total market revenue. The high concentration of population in cities like Sydney and Melbourne has created huge demand for skincare items in the Eastern region. The Southern region holds the second largest share and is growing at a quick pace due to rising health and beauty consciousness among consumers.
Key players:
Key players operating in the Australian skincare products market are Graphic Packaging International, Dart Container Corporation, Konie Cups International Inc., Huhtamaki OYJ, Kap Cones Private Limited, Eco-products Inc. (Waddington North America), Phoenix Packaging Operations LLC, Detmold Group, Benders Paper Cups, Georgia Pacific LLC (Koch Industries Inc.), Go-Pak UK Ltd, and Genpak LLC (Great Pacific Enterprises Inc.). The market is consolidated in nature with top 3-4 players dominating over 60% of the share.
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