The skincare industry is now more dynamic than ever. At its core, the skincare market is no longer about a single demographic. It now caters to an extensive range of ages, genders, and lifestyles. The traditional boundaries have been progressively dismantled.
Also, the growing emphasis on personalized skincare has revolutionized the market. Consumers are increasingly educated and discerning. They are now seeking products that align not just with their skin type, but also with their ethical values and lifestyle choices. This shift has given rise to niche markets within the broader industry. More brands cater to demands for organic, vegan, and cruelty-free products.
For entrepreneurs looking to start a skincare line or a single skincare product, they are no longer confined to targeting one set of customers. In this article, we’ll look into some of the most important target audiences for skin care businesses to pursue.
Why Skincare Businesses Need to Understand Their Target Market
Any skincare company hoping to succeed in an increasingly cutthroat market must first understand its target market. This information influences all aspects of the business. That includes marketing plans and product development.
Identifying the target market enables the production of goods that cater to certain customer demands and preferences. Skincare is very individualized; different groups have distinct needs and worries regarding their skin. For example, elderly customers may prioritize anti-aging products. On the flip side, youngsters may prioritize acne therapy. A skincare company may better serve its customers by offering solutions with an understanding of these subtleties.
Also, knowing who your target market is will help you communicate and market more effectively. Businesses can create highly resonant messages by getting to know their age, lifestyle, values, and media consumption patterns. For example, a company aiming to appeal to consumers who care about the environment might highlight eco-friendly activities.
A clear grasp of the target market helps in the successful positioning of the brand. There are a lot of brands in the skincare industry. In order to stand out, you need to have a distinct brand identity that fits in with the expectations and values of your target market. A premium skincare brand, for instance, needs to match its messaging, packaging, and entire experience to premium brand standards. Now that you have a better understanding of why knowing your target market is important, let’s take a look at a few of those markets.
1. Women of All Ages
It should be no surprise to anyone that women have long played a big role in the skincare industry, regardless of age. Over time, a woman’s skin can undergo different changes. For example, menopause can cause dryness or sensitivity. On the other hand, puberty can cause acne while pregnancy can cause pigmentation. Successful skin care companies know this and understand this need. can reach a larger female audience by segmenting their product lines to target these particular stages.
Women are generally more exposed to and engaged with the beauty industry from a young age. This exposure cultivates familiarity and interest in skincare routines as a part of personal grooming and self-care. Also, women tend to have a more intricate skincare routine compared to men. They also usually use a wider range of products. This provides a vast market for different types of skincare products. Basic cleansers and moisturizers to more specialized items like serums, eye creams, and anti-aging products, for example.
Here are the products that women feel are the most important to them according to GCI Magazine, these are the products women are most interested in trying:
- Firming products
The good news for skincare brands targeting this market is that there is a high satisfaction rate. 56% of those women who tried a new facial skin care product last year said they would buy it again. 32% said they might repurchase. While only 3% said they were unhappy with a new product they tried.
2. Individuals Between the Ages of 18 and 29
Choosing to sell skin care goods to the 18-to 29-year-old population is a calculated move supported by strong data and industry trends. Data shows that people between the ages of 18 and 29 are becoming more interested in skincare. NielsenIQ reports that Millennials have the highest penetration for online beauty and personal care (77% of households), but Gen Z isn’t far behind, with 76% penetration. Millennials also have the highest order frequency rate and annual spending online.
This age group is also distinguished by a predilection for skincare products that are created with natural components, sustainably sourced, and ethically manufactured. In another study, 73% of Millennials are willing to pay more for sustainable products. This shouldn’t be surprising since this is consistent with a broader trend in the consumer goods market towards eco-consciousness. Skincare companies that cater to this market increase their chances by reflecting these ideals to speak to the consumers’ ethical and environmental concerns.
The 18–29 age range is at a point in life where proactive skin care becomes essential. This group is growing more conscious of the long-term advantages of skincare regimens. Things like anti-aging, hydrating, and sun protection components, for example.
So what is driving this audience to skincare products? One theory is the rise of TikTok, Instagram, and YouTube beauty influencers. Previous generations typically followed the regimen of peers, celebrities, and models. However, with millions of influencer social media accounts, this generation has consumed countless hours of skincare content.
3. Individuals Who Are Sensitive to Skin and Allergies
For many, skincare is more than simply a cosmetic choice—it’s a matter of health. This is especially true for people who have allergies or sensitive skin. Hypoallergenic products are in high demand. Many customers who struggle with skin problems are searching for solutions that are specifically designed for sensitive skin. Certain labels, such as “non-comedogenic,” “hypoallergenic,” and “dermatologically tested,” serve as indicators of credibility.
Due to their intolerance to common chemicals, this group has distinct skin care demands. This is both a challenge and an opportunity for skincare brands.
For one, there is an increasing need for specialist skincare products. This is a result of the public’s greater understanding of and detection of skin sensitivities and allergies. People have an increased knowledge and identification of skin diseases. Things like rosacea, eczema, and contact dermatitis, for example. All of these call for hypoallergenic and mild skincare products. By concentrating on this group of consumers, businesses can fill a demand.
However, the challenge forces businesses to investigate and create formulas devoid of typical irritants such as alcohol, sulfates, parabens, and perfumes. This can be much harder than it sounds given how some alternative ingredients can be more expensive which can drive up costs.
Businesses looking to reach this market may want to utilize education marketing. This is when you reach your audience by educating them on things like the long-term effects of certain ingredients for people with sensitive skin or allergies.
4. Men 60 and Younger
There has historically been a big void in the market for men’s skincare needs. This has been because skincare products have been sold primarily to women, as we have mentioned earlier. However, brands now have a rare chance to expand their consumer base and appeal to a growing number of people who are concerned about skincare.
There has been a notable shift in the way that men’s grooming and self-care are seen globally. The modern man is increasingly conscious of and receptive to the value of skincare. This goes beyond just shaving and applying aftershave. This change in perspective is partially brought about by shifting social standards, which now views skin care as an integral aspect of total health rather than solely a feminine endeavor. Men’s skin tends to be thicker, oilier, and more prone to irritation from shaving. That means there is an increasing need for treatments made especially for this type of skin.
Men’s skin has unique requirements and issues. For example, increased sebum production, razor burn, and ingrown hairs. By providing specific solutions to these particular problems, a need that wasn’t previously satisfied can be satisfied. We’re seeing more men under the age of 60 purchase products for anti-aging and toning.
Also, there is a significant chance for market expansion in the male population. The global men’s skincare products market size was valued at $12.981 billion in 2022. It is expected to reach $19.278 billion. It is forecasted to grow 4.5% between 2023–2031.
Keep in mind that people frequently fall into more than one category. For example, a young lady in her late 20s may also struggle with skin sensitivity. Because of this, effective skincare companies will have an overlap in their marketing approach that acknowledges these intersections. By doing this, companies can make sure they meet the various needs of their target market.