The worldwide skin toner market is projected to increase from US$ 1,180.80 million in 2022 to US$ 1,596.75 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.2% during this period.
Skin toners are liquid solutions that typically include components like alpha hydroxy acids, beta hydroxy acids, and polyhydroxy acids, which are safe for daily application. Exfoliating toners are designed to enhance skin texture and improve skin brightness. Over the last ten years, there has been a notable rise in consumer awareness regarding personal appearance, which has indirectly fueled the demand for exfoliating toners. These products help in removing dead skin cells, balancing the skin's pH, preparing the skin for subsequent skincare steps, and controlling oil production. Exfoliating toners are generally used post-cleansing, ideally at night, as they can increase the skin's sensitivity to sunlight. The main function of an exfoliating toner is to restore the skin's natural acidity.
The global skin toner market is categorized into organic and conventional segments. In 2021, the conventional segment dominated the market share, while the organic segment is anticipated to experience more rapid growth in the forecast period. Organic toners are composed of natural ingredients, including aqua, organic Brassica oleracea italica (broccoli) extract, organic Aloe barbadensis leaf extract, Daucus carota sativa (carrot) root extract, NV retinol (vitamin A), organic glycerin, betaine, chamomile recutita flower extract, certified preservatives, and fragrances, among others. There is a growing consumer preference for organic toners due to their higher concentration of active ingredients compared to synthetic products, where active ingredients typically constitute only 5-10% of the formulation. This shift towards natural and chemical-free products is significantly driving the demand for organic skin toners.
The skin toner market is also divided geographically into regions such as Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America. In 2021, Asia Pacific held the largest market share and is expected to achieve the highest CAGR during the forecast period. The rise of artificial intelligence (AI) and IoT-based devices that provide personalized skincare solutions, along with other technological advancements in the beauty and personal care sector, are likely to enhance the demand for skincare products, including toners, in the upcoming years. For example, in July 2019, Shiseido, a prominent Japanese cosmetics brand, introduced an IoT service named Optune, which tailors skincare recommendations based on individual skin types.
The COVID-19 pandemic had a profound impact on economies and industries worldwide, leading to lockdowns, travel restrictions, and business closures. These disruptions affected global supply chains, manufacturing processes, delivery timelines, and sales of both essential and non-essential goods. Many companies reported potential delays in product deliveries and a decline in future sales during 2020. Additionally, travel bans imposed by governments in countries such as the US, China, India, Germany, and Italy forced numerous companies to halt their collaboration and partnership initiatives. These challenges significantly hindered the consumer goods sector in 2020 and early 2021, adversely affecting the growth of various markets, including skin toners.
Nevertheless, in the Asia Pacific region, China was among the first to show signs of recovery, thanks to swift vaccination campaigns and effective government measures. By 2021, many countries in Asia Pacific lifted restrictions, allowing manufacturers in the cosmetics and personal care sectors to operate at full capacity. This resurgence enabled skin toner producers to address demand and supply discrepancies and recover from pandemic-related losses. They introduced innovative offerings, such as natural and organic toners, to meet the evolving preferences of consumers during the global crisis, thereby supporting the growth of the skin toner market in the region.
Key players in the global skin toner market include Dickinson Brands, La Mer Technology Inc, Mario Badescu Skin Care Inc., L'Oreal Paris, Shiseido Co Ltd., Procter & Gamble, Burt's Bees, Lush Retail Ltd, The Body Shop International Ltd, and Johnson & Johnson. These companies are employing strategies such as mergers and acquisitions, along with new product launches, to enhance their market presence and expand their customer base.
The overall size of the global skin toner market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the global skin toner market.