A $2.3 billion peach skin sheet market could be the biggest in the history of the industry, according to a study by the firm Burtons International.
The study estimates that the product will grow to $3.3 trillion in sales by 2021, with annual revenue at $6.6 trillion.
The peach skin-plating market is expected to grow to more than $1 trillion by 2020, according Burton International, based in New York.
The firm expects annual sales to top $3 trillion by 2021.
The research firm predicts that the market for peach skin plating will grow by nearly 50% by 2025.
The report estimates that peach skin will account for $1.8 trillion of the $3 billion skin-care market by 2020.
The skin-permeating and skin-enhancing products are typically used in conjunction with sunscreen.
Burtons’ research firm, which includes Burtont International, also projects the skin-clothing industry will grow at a compound annual growth rate of 15.2% over the next decade.
The market is projected to grow at 6.2%.
Burton’s estimates for the peach skin market are based on the assumptions that consumers are willing to pay a premium for quality, are willing and able to spend more on the products, and that the skin treatments will help them improve their skin tone.
Bennett said that while the peach market is a growth industry, he believes there are several ways to increase the price of the products.
“I think it’s not going to be a simple one-to-one exchange,” he said.
Bills are one of the key drivers of the market, and the price increase could help keep peach skin sales steady, Bennett said.
He noted that the industry is also looking to the emerging markets, such as South Korea, China and India, as potential growth areas for the skin treatment industry.