Recently, skin care has taken over the beauty industry by removing its blemishes both figuratively and literally. In 2021, Statista, a database statistics portal, compiled information from the US Census and the Simmons National Consumer survey and confirmed the average American spends $322.28 on skin care products per year. Sophomore Giselle Pfeifer said that investing in skin care will be worth the expenses in the distant future.
“I feel like skin care is more important in the long run than makeup,” Pfeifer said. “High-quality skin care products are extremely expensive so I definitely invest a lot of money in them.”
A report from Grand View Research suggests that the skin care market size will be worth about $188 billion by 2028 in comparison to the $129 billion the skin care market was worth in 2020. Now more than ever skin care companies are investing in dermatologists to promote their brand.
“Skinceuticals was the pioneer in topical antioxidants for anti-aging,” dermatologist Caren Campbell said in a recent interview with “WELL + GOOD,” a popular skin care website.
The anti-acne market is typically targeted towards teenage consumers by hiring well-known influencers to promote their products. Some examples are Emma Chamberlain promoting Curology and Skin Care by Hyram promoting his own brand called “Selfless.” With the influence of social media, the anti-acne cosmetic market alone is expected to increase to $4.2 billion by 2027.
“My investment in skin care is definitely more recent, especially with the influx of social media and skin care influencers,” Pfeifer said. “Influencers like Skincare by Hyram have defi nitely inspired me to take my skincare more seriously and pay more attention to things like my skin care routine and the products that I use on my face.”
In addition to the anti-acne market, the interest in male skin care has gone up 400% over the past 5 years. Recently the male grooming industry has gone past the limits of shaving products, and now facial cleansers are the most popular product among men according to “The Skincare Report.” Even though the market is growing, there is a lack of conversation surrounding male skincare.
“The market is underserved right now and there is an opportunity to really educate men on skincare routines that are important for them,” said vice president of skincare brand Shiseido Jessie Dawes in an interview with Vogue.
In recent years, the “no makeup, makeup look” has become popular amongst public figures. Influencers like Carli Bybel and Haley Kim began showing tutorials on how to nail their “no makeup, makeup look” to achieve society’s idea of what natural beauty is supposed to look like. Brands like Glossier have been created to give consumers the tools to achieve the look.
“My favorite makeup brand would be Glossier because the makeup feels really light on my skin, and I feel much more natural than I do with other brands,” Pfiefer said
The skin care industry is continuing to flourish, and in 2022 the skin care market will be worth around $20,000 million.
