Skincare products are the largest sector within the cosmetic and personal care products market, accounting for about 40% of its global sales.  Within skincare, products for the face constitute about three-quarters of sales.  The entire skincare sector had sales of $110 billion, of which the luxury component comprised the top 20%. The market is expected to grow at, or at a small premium to, world GDP growth rates.

In North America, western Europe and Japan, growth is driven by aging populations which are increasing their proportion of wealth against younger groups.  This prosperous demographic has increased its expenditures, in absolute and relative terms, on healthcare and lifestyle.

However, differentially more rapid growth in household wealth and spending is occurring in emerging economies with expanding middle classes, particularly in Asia. These markets have relatively low penetration by global brands, diverse local skincare offerings, and high market fragmentation.  These products also contain low inputs of advanced technology, and are the least reliable from a purity and safety standpoint.  Emerging Asia and Latin America already account for almost half of global cosmetic sales.