The global facial care market size was valued at USD 94.2 billion in 2018. Rising awareness regarding the importance of facial products in order to maintain healthy skin, enhance skin appearance, and minimize skin conditions is driving the industry of these products. In addition, the growing spending power of the working-class population in the emerging economies including China, India, and Brazil is leading to a rise in demand for these beauty products.
In the past few years, facial care products have contributed to almost 70.0% share of the overall revenue in the skincare market. Manufacturers have realized the significance of these products among consumers and have shifted their focus toward facial beauty products. Manufacturers have started their brand campaigns through various social media platforms such as Facebook, Instagram, and YouTube to market their products. Furthermore, key players have collaborated with different celebrities and appointed them as brand ambassadors of their products to attract more customers.
The market is highly competitive in terms of pricing and the launch of new product variants. High investments in R&D by the key manufacturers are anticipated to boost market growth. Moreover, they are introducing new products in order to meet the growing consumer demand for improving skin appearance. This, in turn, will have a positive impact on the growth of the market in the near future.
Demand for long-lasting product variants has surged in Asia Pacific due to the growing trend of skin-whitening agents. Increasing demand for various facial care products and a growing R&D sector are driving the market in Europe. North America is likely to witness significant growth on account of the high spending power of the working professionals in the region.
Facial creams accounted for the largest share of 25.9% share of the global revenue in 2018. Celebrity endorsements and a wide range of product promotions have been driving the demand for facial creams. Facial creams enhance the overall appearance and make facial skin look bright and glowing at a minimum cost. Other facial products such as skin-whitening and anti-aging creams are also in high demand owing to their effectiveness to penetrate skin pigments, reduce facial spots, brighten skin, and minimizing wrinkles. These applications are fueling the demand for such cosmetic products. This segment comprises product categories including moisturizer cream, skin revival, and skin smoothening.
The hypermarkets and supermarkets segment is expected to reach USD 59.9 billion by the year 2025. The increased number of supermarkets in emerging economies including China and India as a result of the expansion of middle-income age groups is expected to remain a key trend. The online segment is projected to expand at a CAGR of 5.9% from 2019 to 2025. The number of smartphone users has reached up to five billion, which has prompted the growth of the online segment. Online purchase has become more convenient for consumers. In addition, different coupons offered and free home delivery services resulted in purchasing facial care products using e-commerce portals including Amazon, Sephora, Nyka, e-bay, Marks & Spencers, and Purpple.com.
Women are the major consumers of the facial care industry. This application segment accounted for more than a 55.0% share of the overall revenue in 2018. This can be attributed to rising financial independence among women to spend more on personal care products. Additionally, an increasing number of working-class professionals has been boosting the demand for facial care products significantly across the globe. Furthermore, expanding corporate sector and the rising importance of appearing presentable is expected to remain a prominent trend. The increasing significance of multifunctional products, along with growing distribution channels, is propelling the market growth around the globe.
The men's application segment accounted for more than 40.0% share of the total revenue in 2018. It has been observed that men nowadays are shifting towards the use of these facial care products due to growing awareness among the working class to enhance their skin.
As of 2018, Asia Pacific dominated the facial care market and accounted for a 30.9% share of the total revenue. Demand for facial creams, skin-whitening and anti-aging, and serums and masks have grown significantly, thereby driving the market in the region. Unilever Ltd., The Procter and Gamble Company, Johnson and Johnson Ltd., and Kose Corp. are some of the leading retailers in Asia Pacific. The trend of skin-whitening agents has raised the demand for long-lasting product variants in this region.
Europe holds a significant share in the industry. Key markets of this region include France, Germany, U.K., Italy, and Spain. Growing demand for various facial care variants across the globe is enhancing the R&D sector of this industry. Furthermore, shifting inclination towards organic products from synthetic products as a result of hazardous effects associated with the latter is expected to open new avenues.
North America is expected to emerge as the fastest-growing regional market with a CAGR of 5.5% from 2019 to 2025. Growing demand and requirement of consumers is propelling the manufacturers in the U.S. to expand their business operations across the world. In addition, the high spending power of the working professionals in this region is boosting the growth of this region. In addition, the increasing number of working-class women, along with changing lifestyles, is expected to remain favorable for the regional market growth.
Major players in the market include L’Oreal, Procter and Gamble, Oriflamme, Unilever, Estee Lauder Company, and Johnson & Johnson. The formation of strategic partnerships with celebrities in order to launch new products is projected to remain a key success factor over the next few years. In October 2017, L’Oreal Paris launched Revitalift Tripple Power Day Cream, which is an intensive moisturizer that hydrates to give younger-looking skin.
Market size value in 2020
USD 103.8 billion
Revenue forecast in 2025
USD 132.7 billion
CAGR of 5.0% from 2019 to 2025
Base year for estimation
2015 - 2017
2019 - 2025
Revenue in USD million/billion and CAGR from 2019 to 2025
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, application, distribution channel, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Germany; U.K.; China; India; Brazil; South Africa
Key companies profiled
L’Oreal; Procter and Gamble; Oriflamme; Unilever; Estee Lauder Company; Johnson & Johnson
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global facial care market report on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion, 2015 - 2025)
Skin-whitening & anti-ageing
Serums & Masks
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Application Outlook (Revenue, USD Billion, 2015 - 2025)
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
Central & South America
Middle East & Africa
b. The global facial care market size was estimated at USD 98.9 billion in 2019 and is expected to reach USD 103.8 billion in 2020.
b. The global facial care market is expected to grow at a compound annual growth rate of 5.0% from 2019 to 2025 to reach USD 132.7 billion by 2025.
b. Asia Pacific dominated the facial care market with a share of 30.8% in 2019. This is attributable to the rising demand for facial creams, skin-whitening and anti-aging products, and serums and masks.
b. Some key players operating in the facial care market include Lâ€™Oreal, Procter and Gamble, Oriflamme, Unilever, Estee Lauder Company, and Johnson & Johnson.
b. Key factors that are driving the market growth include rising awareness regarding the importance of facial products in order to maintain healthy skin, to enhance skin appearance, and minimize skin conditions.
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