A recent report published by
Infinium Global Research on facial care market provides in-depth analysis of
segments and sub-segments in the global as well as regional facial care market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional facial care market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global facial care market. According to the
report, the global facial care market is projected to grow at a CAGR of nearly
6% over the forecast period of 2022-2028.
The revenue generated by the
market was about USD 110 billion in 2022 and is expected to reach over USD 155
billion in 2028 and is expected to grow with a CAGR of over nearly 6% over the
forecast period 2022-2028. The maintenance of the face's features, including
the skin, lips, and eyelashes, for a beautiful, youthful appearance is known as
facial care. The skin care treatments category includes facial care items.
Cleanser, toner, antioxidant serum, eye cream, spot treatment, moisturizer,
sunscreen, and more products are included. These are applied both to treat
specific skin disorders and to maintain skin health. Facial care might help in
getting a complexion that looks nicer. Additionally, it cleanses and regenerates
skin, consequently improving its health. In addition to improving skin's
appearance, proper facial care can also get rid of particular skin issues and
faults, including acne, wrinkles, and age spots. It really is among the best
methods for maintaining facial skin and enhancing natural beauty.
People's lives were impacted by
COVID-19 in numerous ways, which resulted in its total closure. Facial hygiene
is just one of the many modified lifestyles. Since COVID-19, there has been a
surge in interest in facial care and Internet searches. As the COVID-19
pandemic spread, communities began to go into lockdown. Before the pandemic,
customers made purchases based on offline habits, including looking at,
feeling, and smelling items. Following the pandemic, an increase in users of
social media has altered consumer buying patterns by encouraging them to
consult product evaluations and samples. The need for face care products was
significantly impacted by their unavailability owing to store closures; as a
result, the supply was unable to keep up with the demand, and facial care
product sales severely decreased in the first phase of the pandemic.
The facial care segment
contributes around 3/4th of the total skin care market’s revenue. This growth
can be attributed to the growth of a wide range of products, including BB
creams, anti-aging creams, moisturizers, cleansing wipes, skin toners, masks
and serums, and so on. This, in turn, has resulted in the availability of a
wide array of products to the customers and further increased the penetration
of facial and personal care products. Rising awareness about facial care
products and new multinationals entering the market are other factors boosting
the growth of the global facial care market. Growing disposable income among
younger consumers, especially women, and growing awareness about several
benefits of facial care such as improved personality, physical appearance, etc.
are helping to boost the market globally. But fluctuating costs of ingredients
as petroleum-based products, and a governmental ban on some ingredients for
application in skin creams are hampering the growth of the market for the
medium term. However, intensive marketing by beauty product companies and
increasing online purchasing of facial care products are expected to boost
growth opportunities in the market.
The global facial care market is
segmented into North America, Asia-Pacific, Europe, and the RoW region. North
America dominated the facial care market in terms of revenue. People in North
America have a high per capita income, which has enabled them to maintain a
high standard of living. The facial care regime has become an important aspect
of the modern lifestyle of most North American citizens, which has resulted in
high spending on facial care products by them. The high penetration of facial
care products into the lifestyle of North American consumers along with their
high spending power has resulted in an established facial care market in North
America. Women are the most frequent users of facial care products in North
America, and the number of consumers using facial care products is only
expected to increase as the region's population grows. Asia-Pacific is expected
to be the fastest growing region in the market. This can be attributed to factors
such as the growing population of young consumers and their increasing
purchasing power, along with the emergence of local facial care brands.
The report on global facial care
market covers segments such as product type, distribution channel, and end
user. On the basis of product type, the sub-markets include skin whitening/
lightening and anti-ageing, facial creams, face wash, cleansing wipes, serums
and masks, and others. On the basis of distribution channel, the sub-markets
include conventional store, departmental store, and online store. On the basis
of end user, the sub-markets include male, and female.
The report provides profiles of
the companies in the market such as L’oreal S.a., Procter and Gamble Company
(P&G), Estee Lauder Companies Inc., The Unilever Plc., Shiseido Co. Ltd.,
Johnson and Johnson Limited, Kose Corporation, Kao Corporation, Oriflame
Cosmetics AG, and Edgewell Personal Care.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of facial care market. Moreover, the study highlights current market
trends and provides forecast from 2022-2028. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.