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A recent report published by Infinium Global Research on the facial care market provides an 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 the long term. The report is a comprehensive presentation of trends, forecasts, 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 the 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 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 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 the facial care market. Moreover, the study highlights current market
trends and provides forecasts 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 insight into the market share of the leading players.
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