The global face care market is expected to be worth USD 101,897.2 million in 2020, rising to USD 149,677.5 million by 2028 at a CAGR of 5.02%.
Men and women both value attractiveness, and the general public’s understanding of facial care has grown in an effort to improve both overall health and facial appearance. Creams, serums, mists, toners, and masks are all examples of facial care products. These items are used in procedures to improve the general well-being and beauty of the face, such as moisturising, exfoliating, toning, and face massages.
This market is expected to grow over the forecast period as more people become aware of the benefits that beauty and facial care can have on one’s self-esteem and social involvement. Organic and vegan facial care products that are less harmful to the environment in terms of packaging and consumption are gaining popularity among consumers. Customers want multipurpose items that provide the same benefits as a multi-step programme because “less is more” has become the new norm.
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Growth Factors
Rising consumer awareness of facial care products and personal care products in general, particularly among men, is expected to drive market expansion in the coming years. Due to various facial issues such as photoaging, pollution and sunlight exposure, acne, and other ailments, consumers are encouraged to take better care of their skin and spend money on facial care products such as serums, toners, anti-aging creams, face washes, and other similar items. In response to the growing popularity of facial care products, companies are developing new varieties, including those for men.
Furthermore, increased R&D spending by large corporations, as well as the introduction of novel product lines by new competitors, are expected to drive market expansion.
Key Market Players & Competitive Landscape
Among the top rivals in the facial care industry are Estee Lauder Companies Inc., L’Oreal SA, Shiseido Co. Ltd., Kose Corporation, Procter & Gamble Company, Johnson & Johnson Limited, Unilever, Oriflame, Avon, and Kao Corporation.
Leading companies in this industry have adopted a zero waste mentality and are searching for more sustainable production techniques. Kose Corporation said in March 2019 that it would carry on its “Save the Blue” environmental protection programme in countries like China, Japan, South Korea, Singapore, Malaysia, and others.
The global facial care market is segmented as follows:
By Product
Creams
Serums
Sprays
Others
By Distribution Channel
Online
Supermarkets
Hypermarkets
Others
By End User
Men
Women
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
German
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asi
Rest of Asia Pacific
Latin America
Brazil
Mexic
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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