27 November 2023
Increasing Beauty Clinics and Dermatological Networks Drive Growth
The global chemical peel market is set to experience significant expansion in the coming years, driven by the rise in the number of beauty clinics with enhanced infrastructure and an expanding network of dermatological clinics. Chemical peels, a traditional method of skin rejuvenation, offer adaptable and efficient therapies with various chemical compositions and application techniques. These peels penetrate the dermis to varying depths, providing a range of benefits for individuals seeking to improve their skin’s appearance and texture.
1. Expanding Medical Tourism Boosts Demand for Chemical Peels
The chemical peel market is expected to grow due to the expansion of medical tourism. Factors such as the availability of affordable, high-quality treatments, the presence of highly competent surgeons, and improved medical infrastructure in emerging nations contribute to the growing demand for services like facial aesthetics and chemical peels.
2. Growing Awareness of Skincare and Aesthetics Drives Market Expansion
Increasing awareness of skincare and aesthetics worldwide is anticipated to propel the chemical peel market. Women, who are more likely to experience skin problems such as acne, pigmentation, and wrinkles, form a significant portion of the clientele. However, men are also becoming more conscious of their appearance, leading to a broader customer base for chemical peels.
3. Impact of COVID-19 on the Market
The COVID-19 pandemic has affected the cosmetic industry, including the chemical peel market. The growth rate of the industry decreased due to labor shortages and disruptions in the supply chain. However, as the world recovers from the pandemic, the market is expected to regain its momentum.
4. Regional Outlook: Key Markets and Growth Opportunities
– India is projected to develop at a promising CAGR of 3.4% during the forecast period.
– The United States currently dominates the chemical peel market in North America, generating 88.2% of the region’s business in 2023.
– The United Kingdom’s chemical peel industry is estimated to expand at a CAGR of 4.5% from 2024 to 2034.
– China’s chemical peel market is poised to exhibit a CAGR of 4.2% during the assessment period.
– Japan is expected to experience steady growth at a CAGR of 4.0% in chemical peel demand.
5. Product Insights: Glycolic Peels Lead the Market
Glycolic peels hold a significant market share of 40.0% in 2023. As one of the most popular chemical peel products, glycolic peels offer effective exfoliation and skin rejuvenation benefits. Other products, such as beta peels, lactic peels, pigment balancing peels, TCA peels, and resorcinol peels, also contribute to the market’s growth.
6. Competitive Landscape: Discreet and Innovative Chemical Peels
Manufacturers in the chemical peel market are focusing on discreet and innovative products to meet consumer demands. Key players employ a combination of organic and inorganic growth strategies, including product launches, acquisitions, and collaborations, to promote their brands and expand their market presence.
The global chemical peel market is poised for significant growth in the coming years, driven by the expansion of beauty clinics and dermatological networks. The rise in medical tourism, growing awareness of skincare and aesthetics, and the of innovative products contribute to the market’s expansion. As the world recovers from the impact of the COVID-19 pandemic, the chemical peel market is expected to regain its momentum, offering individuals the opportunity to achieve healthier, rejuvenated skin.