June 13, 2024
Australia Skincare Products Market

Australia Skincare Products Market Valued At Over US$ 2693.81 Mn

Skincare products are formulated to cleanse, treat and protect the skin. They include face creams, lotions, cleansing products and sun protection items designed to hydrate the skin, slow premature ageing, treat acne and improve the skin’s appearance. The rising awareness about health and wellness among Australian consumers has increased the demand for natural and organic skincare products.

The global Australia Skincare Products Market is estimated to be valued at US$ 2693.81 Mn  in 2024 and is expected to exhibit a CAGR of 6.3%  over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

The increased preference of natural and organic skincare products is one of the major trends witnessed in the Australia skincare products market. Australian consumers are more inclined towards using natural and organic ingredients like plant extracts, vitamins and antioxidants in their skincare routines due to rising health consciousness. This is encouraging skincare brands to offer natural alternatives to conventional products. For instance, brands like Eve Lom and Aesop strongly focus on using natural ingredients in their entire skincare range. They market their products as clean, safe and sustainable options. This growing demand for natural and organic personal care products is expected to drive the growth of Australia skincare products market over the forecast period.

SWOT Analysis

Strength: The Australian skincare products market has a large population base seeking skincare products to protect their skin from harsh UV rays. Strong exposure to sun causes various skin diseases making skincare essential.
Weakness: High prices of natural and organic skincare products restricts its mass adoption. Rural areas have limited access to premium brands.
Opportunity: Rising health and wellness trend drives demand for herbal and natural skincare products. Increasing penetration of e-commerce enables wider reach.
Threats: Stiff competition from global players pressures margins. Volatile raw material costs and regulations pose challenges.

Key Takeaways

The Australia Skincare Products Market Share is expected to witness high growth supported by increasing adoption of herbal and natural skincare driven by rising health awareness. Propelled by rising consumer awareness about health and wellness.

Regionally, New South Wales dominates the market due to large urban population actively using skincare products to protect their skin from harsh sun exposure.

Key international players are expanding their footprint in Australia through retail channels as well as strengthening their e-commerce presence. 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 are some of the prominent packaging solution providers catering to the Australia skincare products market. The market is anticipated to grow further with rising disposable incomes, increasing health consciousness and launches of innovative products. However, volatility in raw material costs and stringent regulations remain key challenges.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it