As per Future Market Insights (FMI), the global chemical peel market is expected to attain a valuation of USD 3,350.6 million by 2034. The market value is estimated to be valued at USD 2,263.3 million in 2024. It is anticipated to expand at a CAGR of 4.4% in the assessment period between 2024 and 2034.
Chemical peels are the traditional methods of skin rejuvenation and constitute a distinct category of therapies. They have a chemical, histological, toxicological, and clinical basis and are adaptable as well as efficient. Depending on the chemical employed and the application technique, the action of any peel penetrates the dermis either directly or indirectly and to varying depths.
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The chemical peel market will expand during the forecast period due to the expansion of medical tourism. The demand for services such as facial aesthetics and chemical peels is being driven by several factors. These factors include the availability of affordable, high-quality treatments, the presence of highly competent & renowned surgeons, and improved medical infrastructure & doctors in emerging nations.
Growing awareness of skincare and aesthetics around the world is anticipated to propel the market. In every given region, women are more likely than males to experience acne, pigmentation, and wrinkle problems. Hence, they make up a significant portion of their clientele. Although women experience skin breakouts more frequently than men do, men generally experience severe skin outbreaks.
A handful of the factors propelling the market include rising disposable income and growing self-consciousness about one’s appearance. The market for cosmetic products was affected by the COVID-19 pandemic, and the industry’s growth rate decreased. Due to labor shortages, cosmetic manufacturers were compelled to halt their production units, causing a disruption in the supply chain.
Key Takeaways from the Chemical Peel Market Study-
- India is expected to develop at a promising CAGR of 4% throughout the projection period.
- With a share of 2% in North America’s chemical peel business generated in 2023, the United States currently dominates the region.
- The United Kingdom’s chemical peel industry is estimated to expand at a CAGR of 5% in the evaluation period from 2024 to 2034.
- China’s chemical peel business is poised to exhibit a CAGR of 2% during the assessment period.
- Chemical peel demand in Japan is anticipated to rise at a steady CAGR of 0% during the forecast period from 2024 to 2034.
- Superficial peels are expected to witness high growth at a CAGR of 7% in the forecast period.
- Glycolic peels, in terms of product, held a market share of 0% in 2023.
“Rising medical tourism, as well as the increasing new and innovative product launches, are set to propel sales of chemical peels across the globe,” says a lead analyst of Future Market Insights (FMI).
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Competitive Landscape:
Manufacturers are turning to discreet and innovative chemical peels to meet consumer demands. Hence, brand promotion takes place on a parallel path. Several key players mainly rely on a mixture of organic and inorganic growth strategies such as product launches, acquisitions, and collaborations.
For instance,
- In 2020, SkinCeuticals introduced its revolutionary Smart Trichloroacetic Acid (TCA) Peel System. It provides post-peel comfort to the consumer. It also includes a patented post-peel restorative masque.
- In 2021, Sorella Apothecary launched its collection of four chemical peels to target different skin issues.
- In December 2020, an agreement was signed by L’ORÉAL to acquire Takami, a skincare company based in Japan.
- In January 2020, a strategic relationship between Verily and L’ORÉAL was announced to promote precision skin health.
Key Players:
- IMAGE Skincare
- Lasermed, Merz Pharma
- Allergan
- Glytone
- La Roche-Posay
- Laboratory ObvieLine
- Hangzhou Techderm Biological Products
- Galderma
- Valeant
- Johnson and Johnson
- L’Oréal
- Teoxane
- Topix Pharmaceutical, Inc.
- Colgate-Palmolive. Co.
- Merz Pharma GmbH & Co. KGaA
Chemical Peel Market Outlook by Category:
By Type:
- Superficial Peel
- Medium Peel
- Deep Peel
By Product:
- Beta Peel
- Glycolic Peel
- Lactic Peel
- Pigment Balancing Peel
- TCA Peel
- Resorcinol Peel
By Indication:
- Pigmentary Disorders
- Lentigines
- Ephelides
- Melasma
- Inflammatory Disorders
- Acne
- Rosacea
- Scars
- Chronoaging
- Superficial and Medium-depth Rhytides
- Pre-cancerous Lesions
- Actinic Keratoses
By End-user:
- Ambulatory Surgery Center
- Hospitals
- Dermatology Clinics
- Salon
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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