skin toner Market

The global skin toner market is expected to grow from US$ 1,180.80 million in 2022 to US$ 1,596.75 million by 2028. It is expected to register a CAGR of 5.2% from 2022 to 2028.

Skin toner is an aqueous solution containing ingredients such as alpha hydroxy acids, beta hydroxy acids, and polyhydroxy acids that are gentle for regular use. Exfoliant types of toner aim to smooth skin texture and brighten skin tone. In the past decade, consumers have become more conscious about their appearance. This factor indirectly propels the demand for exfoliating toners as it dissolves dead skin cells, balances pH levels, preps skin for the rest of the skincare routine, and regulates oil production. Additionally, exfoliating toners are usually applied after cleansing, preferably at night, since exfoliating can make the skin sun sensitive. The primary purpose of an exfoliating toner is to restore the skin's acidity level.

Based on category, the global skin toner market is segmented into organic and conventional. In 2021, the conventional segment held a larger market share, and the organic segment is expected to grow at a faster rate during the forecast period. Organic toners are natural products that contain aqua, organic Brassica oleraceaitalica (broccoli) extract, organic Aloe barbadensis leaf extract, Daucuscarota sativa (carrot) root extract, NV retinol (vitamin A), organic glycerin, betaine, chamomillarecutita flower extract, certified preservatives, and fragrance, among others. Consumers are increasingly inclined toward organic toner as most of its content is active ingredients; however, in synthetic skincare products, active ingredients only make up 5-10% of the content. Thus, consumer preference for natural and chemical-free products is driving the demand for organic skin toners.

The global skin toner market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America. In 2021, Asia Pacific held the largest share of the global skin toner market and is expected to register the highest CAGR during the forecast period. The development of artificial intelligence (AI), IoT-based devices that offer personalized skin nourishment solutions to individuals and other technological advancements in the beauty & personal care industry are expected to boost the demand for skin care products such as skin toners in the coming years. For instance, in July 2019, Shiseido, a Japanese cosmetic company, launched an IoT-based service called Optune, which tells skincare requirements according to the individual's skin type.

The COVID-19 pandemic affected economies and industries in various countries across all continents with lockdowns, travel restrictions, and business shutdowns. These shutdowns disturbed global supply chains, manufacturing activities, delivery schedules, and essential and non-essential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the bans imposed by governments of various countries, including the US, China, India, Germany, and Italy, on international travel forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the consumer goods industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the skin toner market.

However, in Asia Pacific, China emerged as the first country to show signs of recovery due to the introduction of rapid vaccination drives and effective government regulations. In 2021, countries in Asia Pacific removed various restrictions and permitted manufacturers in cosmetic and personal care industries to operate at full capacities. This helped skin toner manufacturers overcome the demand and supply gaps and recover from the losses incurred due to the impact of the pandemic. They launched innovative products such as natural and organic skin toners to cater to the changing buying preferences of customers amid the global crisis. This has been favoring the growth of the skin toner market in Asia Pacific.

Dickinson Brands, La Mer Technology Inc, Mario Badescu Skin Care Inc., Loreal Paris, Shiseido Co Ltd., Procter & Gamble, Burt's Bees, Lush Retail Ltd, The Bodyshop International Ltd, and Johnson & Johnson are among the leading players in the global skin toner market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.

The overall global skin toner market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the global skin toner market.