Mergers and acquisitions are continuing to consolidate the global professional skin care landscape, particularly in the dynamic medical care providers channel. Some of the most noteworthy deals that marked recent years were L’Oréal’s acquisition of SkinBetter Science, strengthening its position in the physician segment, and Galderma’s acquisition of Alastin, helping to piggyback the brand with its cornerstone base of injectables.
Major world events of 2022 have impacted the performance of leading markets such as Europe and the United States, which registered soft growth of about 5% and 11%, respectively. The United Kingdom continued to be the largest and fastest-growing market in Europe in 2022, followed by France and Germany. The market benefited from full re-openings of spas and beauty institutes as well as strong growth of leading brands such as Elemis, AlumierMD, and ZO Skin Health.
Several common developments emerged in both Europe and the United States markets:
- Strategic partnerships were enhanced as many brands partnered with various associations, multi-site outlets, and new accounts to expand their distribution. One example: PCA skin’s partnership with the International Space Station (ISS) National Lab.
- Digital initiatives remained important as brand support for professional outlets helped drive traffic for aesthetic and wellness services.
- Consumers returned to professional channels for various services and treatments, resulting in a slower growth of the retail channel, particularly e-commerce.
Looking ahead, the professional skin care market is facing a positive outlook as consumers continue to prioritize skin care despite a challenging economic landscape. New innovations, coupled with an increase in the number of professionals that are starting to dispense skin care products, will continue to drive growth in the market. Emerging trends such as personalized skin care and sustainability are also expected to take center stage in 2023 and the coming years.
The 20th edition of our Professional Skin Care Global Series report continues to provide insights on the various dynamics that are impacting the demand for consumable topical skin care products sold through and used in professional channels in Europe, China, and the United States. Featuring our advanced forecasting solutions, these reports will help you better predict future market values and consumer demand for professional skin care products.