In the forecasted timeframe spanning from 2023 to 2029, the global skin toner market is expected to witness substantial expansion, with a projected compound annual growth rate (CAGR) of 5.1%. This growth is set to propel the market to an estimated valuation of US$ 2.1 billion by the year 2029.
At the commencement of 2023, the skin toner market is expected to possess a valuation of US$ 1.2 billion, establishing a sturdy foundation for profitable business prospects totaling US$ 828.2 million over the evaluation period.
Key Market Insights:
· Estimated Size of the Skin Toner Market in 2023: US$ 1.2 billion
· Projected Valuation of the Skin Toner Market by 2029: US$ 2.1 billion
· Compound Annual Growth Rate (CAGR) for the Skin Toner Market from 2023 to 2029: 5.1%
Key Insights into the Skin Toner Market
Rising Preference for Indie Brands Boosting Sales in Europe
The European skin toner market is poised for exponential growth, driven by the increasing preference among millennials for indie brands. These indie brands, typically small-scale businesses, focus on niche offerings, innovation, and authenticity.
In the United Kingdom, Germany, and Italy, several indie brands are gearing up to provide personalized skincare solutions. They are expected to introduce diverse ranges of skin toners tailored to address various skin concerns and types, offering customers a wide array of choices.
Modern indie brands are emphasizing transparency in their manufacturing and sourcing processes, as well as their ingredient lists. This heightened transparency is likely to instill trust among consumers who increasingly demand to know the composition of their skincare products, enhancing authenticity within the European skin toner market.
For example, in February 2022, two new vegan skincare lines, Boohoo Beauty and Woah, were launched by UK-based fashion companies Boohoo and Next. The Next line includes toners, micellar water, face masks, cleansers, eye creams, moisturizers, and serums, offering a comprehensive skincare regimen for both morning and night.
Celebrity Endorsements Expected to Drive Demand in Asia Pacific
The practice of social media influencer and celebrity marketing is gaining momentum in the Asia Pacific region and is set to fuel demand for skin toners. Social media influencers and celebrities hold considerable credibility in the skincare and beauty sector, making their product recommendations and endorsements highly influential among their followers.
Utilizing these influencers and celebrities to promote products can generate immediate interest and demand among their vast and engaged fan bases. Their reach extends across popular social media platforms such as Twitter, TikTok, YouTube, and Instagram, reaching millions of followers worldwide.
Beyond the realm of influencer marketing, the introduction of skincare products by celebrities in regions such as India, China, and South Korea is poised to drive demand even higher. A notable example is Deepika Padukone, who recently launched her skincare brand, 82°E, leveraging Instagram promotions to share her personal skincare routines and observations while testing the products. Her product line encompasses items like the Gotu Kola Dew toner serum, Lotus Splash cleanser, Pachouli Glow sunscreen, and Ashwagandha Bounce gel moisturizer.
Analysis of the Skin Toner Market: 2018 to 2022 vs. 2023 to 2029 Demand Forecast
The global skin toner market is anticipated to maintain a steady growth rate, with a projected compound annual growth rate (CAGR) of 5.1% from 2023 to 2029. In the historical period from 2018 to 2022, the market exhibited robust growth with a CAGR of 6.7% and reached a valuation of US$ 1.1 billion in 2022.
· Historical CAGR (2018 to 2022): 6.7%
· Historical Market Value (2022): US$ 1.1 billion
· Short-Term Growth Prospects (2018 to 2022)
The period from 2018 to 2022 witnessed a surge in skin toner demand, primarily driven by the global outbreak of the coronavirus pandemic. With increased emphasis on self-care and skincare routines due to stay-at-home orders and lockdowns, millennials placed a higher priority on skincare products.
Skin toners gained popularity during this period as they were seen as essential for maintaining refreshed and healthy skin. The pandemic also led to increased stress-related skin issues, such as uneven skin tone and breakouts, driving the demand for products with hydrating and soothing properties. Online platforms offered discounts on such products, further boosting the skin toner market.
Mid-Term Growth Insights (2023 to 2028)
The period from 2023 to 2028 is expected to witness strong sales in the skin toner market, fueled by the growing trend of inclusive and gender-neutral skincare products. Companies are moving away from gender-specific marketing strategies, opting to design products that cater to individuals of all genders. This approach is set to expand consumer bases and promote inclusivity.
Emerging companies promoting gender-inclusive and neutral products are likely to engage in global awareness campaigns and consumer education efforts. These initiatives aim to help consumers better understand the importance of skin toners for various skincare concerns, enabling informed decision-making regarding their skincare routines.
Long-Term Skin Toner Market Forecast (2028 to 2029)
Advancements in technology are expected to shape the skin toner market from 2028 to 2029. The demand for tech-infused skincare products is projected to rise during this period.
Tech-infused skincare applications and platforms, incorporating machine learning and artificial intelligence (AI) algorithms, are set to play a pivotal role. These technologies can assess individual skin concerns and conditions, offering customized product recommendations, including skin toners, tailored to specific skin types.
The proliferation of Internet of Things (IoT) devices, such as skincare tools and smart mirrors, is expected to be a global trend by 2029. These devices will analyze various skin conditions and recommend skincare products in real-time, potentially leading to the emergence of smart skin toners equipped with sensors, offering personalized usage recommendations and formulation adjustments based on skin type.
Surging Demand for Coffee-Infused Skin Toners for Sensitive Skin in China
China exhibited strong growth with a CAGR of approximately 8.7% in the historical period from 2018 to 2022 and is expected to reach a valuation of US$ 325.4 million in the skin toner market by 2029.
Prominent skin toner brands in China are anticipated to incorporate coffee extracts into skincare products, including serums, creams, and skin toners, offering unique features. Coffee, rich in chlorogenic acid, can protect against damage caused by environmental pollutants and UV radiation. Skin toners enriched with coffee extracts provide added protection against skin damage and premature aging.
Individuals with acne-prone or sensitive skin are likely to favor skin toners infused with coffee extracts, as these products can reduce swelling and redness associated with acne breakouts. Coffee content in skin toners offers anti-inflammatory properties, soothing inflamed and irritated skin.
Furthermore, skin toners infused with coffee extracts offer a pleasant natural aroma, enhancing the overall skincare experience. This aromatic appeal is expected to drive demand for such products in China.
Multi-Step Skincare Routines to Drive Sales of Skin Toners for Women in Japan
Japan is projected to achieve a CAGR of 6.1% in the skin toner market from 2023 to 2029, with an estimated financial potential of US$ 91 million during this period.
Millennials in Japan are expected to adopt comprehensive skincare routines that include multiple steps. Skin toners are poised to play a vital role in preparing the skin to absorb moisturizers effectively. Multi-step routines and layering techniques are likely to attract consumers to incorporate skin toners into their regimens for enhanced effectiveness.
Sharp Corp, a prominent home appliance manufacturer, introduced a therapeutic moisturizing cream in the cosmetics industry in March 2022. The Japan-based company may follow up this launch by introducing a medicated toner and emulsion in the coming months. These products will be available for purchase on Sharp's website and will contain anti-inflammatory and moisturizing components.
Curél, a leading Japanese skincare company, focuses on addressing dry and sensitive skin. Their new line includes a refreshing foaming face wash, moisturizing water essence for soothing and hydrating the skin, and a gel moisturizer, available at Boots.
Collaboration with Bands to Drive Sales of Skin Toners for Oily Skin in South Korea
South Korea is expected to generate significant business potential, amounting to US$ 71.5 million from 2023 to 2029. It achieved an impressive CAGR of 13.9% during the historical period in the skin toner market.
Leading players in the anti-pollution toner market in South Korea are likely to collaborate with K-pop bands to attract a larger customer base. These bands are influential trendsetters in skincare, beauty, and fashion, and their endorsements could add credibility to skin toners. Fans are expected to purchase these products if recommended by their favorite bands on social media.
As an illustration, the K-beauty company Dr. G is harnessing the worldwide appeal of the boy band SHINee to enhance its market presence, commencing with market expansions in Japan and Vietnam. The company has ambitious plans to expand its footprint across the globe, with a strategic focus on markets in Asia, Europe, and North America.
In February 2019, K-pop sensation BTS launched a face care line specifically designed for individuals with acne. The band's animated persona, BT21, featured on the packaging of the new AC Control line from K-beauty company TN. This collection offers a traditional three-step regimen, including the Daily Clearing Toner, Daily Moisture Lotion, and Bubble Cleansing Foam.
Prominent players in the skin toner market are dedicated to extensive research and development efforts aimed at pioneering new products. They are introducing innovative skincare technologies and harnessing the power of natural extracts in their formulations. These strategic initiatives enable them to distinguish themselves from competitors by advancing product efficacy and performance.
A select group of companies in the facial cleansers and toners market is pioneering inventive toners tailored to specific skin types and concerns. Heightened awareness regarding issues such as aging, acne-prone skin, dryness, and excess oil production is anticipated to fuel robust demand for novel skin toning solutions. In response to these concerns, companies are poised to launch fresh products catering to various skincare needs.
In the contemporary digital landscape, where e-commerce plays a pivotal role in the personal care and beauty industry, leading companies within the skin toner market are actively broadening their online presence. These industry leaders are allocating substantial resources to create user-friendly websites and mobile applications, thereby bolstering their digital sales platforms.
As an illustration,
· In June 2023, Under her Rhode brand, Hailey Bieber unveiled "Glazing Milk Essence." This airy essence is meticulously crafted to play a pivotal role in skincare routines, with a primary focus on reducing redness, fortifying the skin's protective shield, and providing profound hydration. Its formulation highlights a rich blend of skin-nourishing elements, featuring ceramides, beta-glucan, a unique fusion of magnesium, zinc, and copper, all harmonized with a complex enriched with hyaluronic acid.
· In March 2023, India-based personal care company Skinvest unveiled "CEO," a versatile 3-in-1 skincare product aimed at empowering consumers to effectively manage their skin. The product line has been specially crafted to cater to the distinctive skincare requirements of the youthful demographic in the country. "CEO" serves as an adaptable toner, moisturizer, and serum, custom-tailored to address prevalent skin concerns, including enlarged pores, dark spots, acne, and pigmentation.
· In February 2023, Australia-based skincare and beauty product manufacturer Sand & Sky introduced their innovative "Marshmallow Toner." This versatile product serves a dual purpose, acting as both an exfoliator and cleanser. It leverages the advantages of key ingredients like hyaluronic acid, niacinamide, BHA, marshmallow root extract, and AHA. The Marshmallow Toner not only delivers moisture and enhances skin radiance but also exfoliates, reduces pore size, and diminishes the visibility of fine lines and wrinkles.
Category Overview of the Skin Toner Market Classification of Skin Toners
Skin Toners Classified by Product Type:
Segmentation by Gender in the Skin Toner Market:
Distribution Channels in the Skin Toner Market:
- Convenience Stores
- Supermarkets & Hypermarkets
- Online Retail
Regional Segmentation of the Skin Toner Market:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
1 Market Overview
1.2 Market Analysis by Type
1.2.1 Overview: Global Revenue by Type: 2022 Versus 2023 Versus 2029
1.3 Market Analysis by Application
1.3.1 Overview: Global Revenue by Application: 2022 Versus 2023 Versus 2029
1.4 Global Market Size & Forecast
1.4.1 Global Sales in Value (2017-2029))
1.4.2 Global Sales in Volume (2017-2029)
1.4.3 Global Price by Type (2017-2029) & (US$/Unit)
1.5 Global Production Capacity Analysis
1.5.1 Global Total Production Capacity (2017-2029)
1.5.2 Global Production Capacity by Geographic Region
1.6 Market Drivers, Restraints and Trends
1.6.1 Market Drivers
1.6.2 Market Restraints
1.6.3 Trends Analysis
2 Manufacturers Profiles
**This is for each company**
2.1.1 Company Details
2.1.2 Company Major Business
2.1.3 Company Product and Services
2.1.4 Company Sales, Price, Revenue, Gross Margin and Market Share (2019-2022)
3 Sales by Manufacturer
3.1 Global Sales in Volume by Manufacturer (2020-2022)
3.2 Global Revenue by Manufacturer (2020-2022)
3.3 Key Manufacturer Position in Market
3.4 Market Concentration Rate
3.4.1 Top 3 Manufacturer Market Share
3.4.2 Top 6 Manufacturer Market Share
3.5 Global Production Capacity by Company
3.6 Manufacturer by Geography: Head Office and Production Site
3.7 New Entrant and Capacity Expansion Plans
3.8 Mergers & Acquisitions
4 Market Analysis by Region
4.1 Global Market Size by Region
4.1.1 Global Sales in Volume by Region (2017-2029)
4.1.2 Global Revenue by Region (2017-2029)
4.2 North America Revenue (2017-2029)
4.3 Europe Revenue (2017-2029)
4.4 Asia-Pacific Revenue (2017-2029)
4.5 South America Revenue (2017-2029)
4.6 Middle East and Africa Revenue (2017-2029)
5 Market Segment by Type
5.1 Global Sales in Volume by Type (2017-2029)
5.2 Global Revenue by Type (2017-2029)
5.3 Global Price by Type (2017-2029)
6 Market Segment by Application
6.1 Global Sales in Volume by Application (2017-2029)
6.2 Global Revenue by Application (2017-2029)
6.3 Global Price by Application (2017-2029)
7 North America by Country, by Type, and by Application
7.1 North America Sales by Type (2017-2029)
7.2 North America Sales by Application (2017-2029)
7.3 North America Market Size by Country
7.3.1 North America Sales in Volume by Country (2017-2029)
7.3.2 North America Revenue by Country (2017-2029)
7.3.3 United States Market Size and Forecast (2017-2029)
7.3.4 Canada Market Size and Forecast (2017-2029)
7.3.5 Mexico Market Size and Forecast (2017-2029)
8 Europe by Country, by Type, and by Application
8.1 Europe Sales by Type (2017-2029)
8.2 Europe Sales by Application (2017-2029)
8.3 Europe Market Size by Country
8.3.1 Europe Sales in Volume by Country (2017-2029)
8.3.2 Europe Revenue by Country (2017-2029)
8.3.3 Germany Market Size and Forecast (2017-2029)
8.3.4 France Market Size and Forecast (2017-2029)
8.3.5 United Kingdom Market Size and Forecast (2017-2029)
8.3.6 Russia Market Size and Forecast (2017-2029)
8.3.7 Italy Market Size and Forecast (2017-2029)
9 Asia-Pacific by Country, by Type, and by Application
9.1 Asia-Pacific Sales by Type (2017-2029)
9.2 Asia-Pacific Sales by Application (2017-2029)
9.3 Asia-Pacific Market Size by Region
9.3.1 Asia-Pacific Sales in Volume by Region (2017-2029)
9.3.2 Asia-Pacific Revenue by Region (2017-2029)
9.3.3 China Market Size and Forecast (2017-2029)
9.3.4 Japan Market Size and Forecast (2017-2029)
9.3.5 Korea Market Size and Forecast (2017-2029)
9.3.6 India Market Size and Forecast (2017-2029)
9.3.7 Southeast Asia Market Size and Forecast (2017-2029)
9.3.8 Australia Market Size and Forecast (2017-2029)
10 South America by Country, by Type, and by Application
10.1 South America Sales by Type (2017-2029)
10.2 South America Sales by Application (2017-2029)
10.3 South America Market Size by Country
10.3.1 South America Sales in Volume by Country (2017-2029)
10.3.2 South America Revenue by Country (2017-2029)
10.3.3 Brazil Market Size and Forecast (2017-2029)
10.3.4 Argentina Market Size and Forecast (2017-2029)
11 Middle East & Africa by Country, by Type, and by Application
11.1 Middle East & Africa Sales by Type (2017-2029)
11.2 Middle East & Africa Sales by Application (2017-2029)
11.3 Middle East & Africa Market Size by Country
11.3.1 Middle East & Africa Sales in Volume by Country (2017-2029)
11.3.2 Middle East & Africa Revenue by Country (2017-2029)
11.3.3 Turkey Market Size and Forecast (2017-2029)
11.3.4 Egypt Market Size and Forecast (2017-2029)
11.3.5 Saudi Arabia Market Size and Forecast (2017-2029)
11.3.6 South Africa Market Size and Forecast (2017-2029)
12 Sales Channel, Distributors, Traders and Dealers
12.1 Sales Channel
12.1.1 Direct Marketing
12.1.2 Indirect Marketing
12.2 Typical Distributors
12.3 Typical Customers
13 Research Findings and Conclusion
14.2 Research Process and Data Source
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analysing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.