The global facial skincare market is experiencing significant growth, and is expected to grow considerably in the next few years. Facial skincare products are used by both men & women to enhance facial skin appearance, reduce skin problems, hold veracity of the skin, moisturize facial skin, and to reduce the effect of aging. Facial skincare product has gain popularity in the market after the endorsement and pushing of skincare products into different countries by the companies through their marketing strategies.
Facial skincare products have gain popularity among millennials with the urge for healthy skin. The facial skincare products are available for different facial problems such as dry skin, acne-prone skins, oily skin, and other basic facial skin problems. The benefits of using facial skincare products are such it minimizes wrinkles, whitens the skin, penetrates skin pigments, reduces facial spots, and brightens the skin. Innovation in the industry is related to the development of advanced natural facial skincare products that reduces aging and don’t cause allergies.
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Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Application, Industry Vertical, and region|
|Regions covered||North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||Loreal, Procter and Gamble, Oriflamme, Unilever, Estee Lauder Company, and Johnson & Johnson, Shiseido, The Ordinary, LVMH, Shanghai Jahwa Corporation, SPDC, Dabao, JALA, Menard|
COVID-19 Scenario Analysis:
- The facial skincare market has seen a steady decline in the pandemic as people have demanded less for non-essential items.
- The manufacturers are facing problems in production as the raw materials supply has been cut due to lockdown.
- The companies are aiming towards the production of new products that have fewer chances of getting contaminated with touch by hands.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rise in disposable income of the people in developing countries, rigorous advertisements by the market leaders, and awareness towards healthy skin are the factors that have increased the demand for facial skin care products. In addition, the rise in obsession towards facial beauty, self-grooming, endorsement, and recommendation by celebrities and social media influencers, rising pollution, and brand campaigns in social media platforms are the factors driving the global facial skincare market. However, the high prices charged by the companies to dilute the endorsement expenses and the side-effects of the facial skincare products are the major constraints of the market. Innovation in the industry is related to research & development of new and enhanced facial products that have fewer side-effects and are natural.
The global facial skincare market trends are as follows:
New product launches to flourish the market
The market players have invested in research and developed new products that give quick results without any side effects to the facial skin. The Ordinary company has launched a range of products under ingredients name as the brand name. The Ordinary Niacinamide 10% + Zinc 1% helps in removing oils and blemishes from the skin and is suitable for all skin types such as oily, dry, sensitive, normal, and other skin types. The products by the Ordinary company don’t have alcohol, parabens, sulfates, silicone, gluten, nuts, and are 100% vegan and cruelty-free.
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The global facial skincare market is dominated by the Asia-Pacific region due to the vast population and emerging economies like India, China, and Indonesia with a rise in disposable income of the people and are demanding more facial skincare products. Moreover, rise in pollution has affected the skin with sunburns and other suspended particles in the air that are harmful to the skin. The distribution channel in the emerging economies has wide reached from urban to rural areas which have made the facial skin care product reach every corner of the countries.
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