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Face care cosmetics are increasingly gaining traction as there is a growing number of people experiencing facial complications all over the world. The various positive attributes of the usage of the product assist to prevent the face from various skin issues, quicken the healing process, and cleanse the skin from dust, dirt, and debris. Extreme weather conditions causing various types of skin issues such as itching, blister, swelling, and others is helping to accelerate the need for the product. Furthermore, the increasing number of people dealing with allergic reactions due to the food they eat and drink or interacting with animals is likely to fuel the demand for the product. For instance, according to the Asthma and Allergy Foundation of America data issued, is stating that every year more than 50 million Americans are experiencing different forms of allergies.
The increasing number of people experiencing sunlight causing skin disorders such as sunburn, wrinkles, moles, and various other issues act as one of the major driving factors for the market growth. The escalating popularity of the usage of the product in the regeneration and healing of facial skin by people experiencing different types of injuries such as vehicle accidents, burn, cut, and others has a significant contribution to the rising demand. Furthermore, the increasing demand for the product especially the anti-aging products by the elderly population worldwide has a vital influence in escalating the consumption rate. For instance, according to the data issued by the United Nations on World Population Ageing 2019, is proclaiming that 703 million people across the globe are estimated to be at the age 65 years and above in 2019.
Nevertheless, individuals with sensitive skin having an allergic reaction to various face care cosmetic products act as a hampering factor for market growth.
Key Market Driver -
The rising number of people dealing with sunlight causing skin disorder around the world is acting as a driving factor for the market growth.
Key Market Restraint -
Occurrences of allergic reaction with sensitive skin is restraining the market growth
Unilever PLC, The Procter & Gamble Company, S. C. Johnson & Son Clorox Company, L'Oréal S.A, Estee Lauder Company, and others are the key companies operating in the face care cosmetic market.
The face care market is segmented into by product type, material type, distribution channel, and geography.
On the basis of product type, the market is fragmented into the cleanser, skin whitening & anti-aging, and face cream. The face cream is anticipated to be the leading market shareholder owing to its ability to reduce pigmentation & dark spots, nourishes & moisturizes skin, and also has the capability to protect the skin from harmful sun rays.
Based on material use, the market is bifurcated into natural and synthetic. Synthetic is projected to be the greater market on an account of synthetic cosmetic brands popularly using all over the world. Likewise, natural products not being effective or perfected as compared to synthetic upsurge the demand for the synthetic segment.
On the basis of the sales channels, the market is grouped into online stores and supermarkets/hypermarkets. Supermarket/ hypermarket is estimated to be the larger market due to a larger number of cosmetic brands having their presence in this type of channel which makes it convenient to purchase the product by most consumers.
On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Asia Pacific is evaluated to be the prominent market shareholder and is anticipated to continue throughout the forecast period of 2020-2027. The rising popularity among the youth population for the usage of the product in the enrichment of looks, and whitening of skin, has played a vital role for the growing demand for the product. . For instance, according to the 8th Economic and Social Council Youth Forum, April 2019, is declaring that the Asia Pacific is estimated to contribute 60 percent of the world’s youth population with India as the leading country. Additionally, the rising awareness of the importance of maintaining healthy skin in various countries of this region resulting to increasing usage of skincare products including face care cosmetics upsurges the need for the product.
Europe is expected to exhibit substantial growth in the face care cosmetics market owing to the high fashion sense of the people in this region leading to an increase in spending made on cosmetic and personal care including face care cosmetics. For instance, according to Cosmetic Europe data issued, in 2019 the retail sales of cosmetic and personal care products in Europe is estimated to be USD 93.55 billion in which Germany is the highest followed by France, UK, and Italy. Additionally, the male population being more conscious of maintaining hygiene and presentable looks as compared to other regions has helped to upsurge the consumption rate.
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