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The face cream market size is forecast to increase by USD 12.20 billion, at a CAGR of 5.21% between 2023 and 2028. Market expansion hinges on various factors, notably the escalating demand for natural and organic face creams, indicative of shifting consumer preferences towards clean and sustainable beauty products. Simultaneously, the increased availability of specialized face creams tailored to specific skin concerns meets the diverse needs of consumers, fostering brand loyalty and market growth. Furthermore, the rapid surge in online sales channels provides convenient access to a wide array of products, driving market penetration and catering to digitally savvy consumers. These factors collectively contribute to a flourishing market environment, where the convergence of consumer preferences, product innovation, and e-commerce trends propels the growth of the face cream industry. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market is experiencing a shift towards organic and natural products, with consumers prioritizing ingredients like sandalwood and turmeric for their skincare routines. Manufacturers are responding to the demand for cruelty-free goods by offering premium and luxury options free from steroids and harmful chemical additives such as sodium lauryl sulfate. These skincare and cosmetics industries cater to individuals concerned about skin-related issues and the potential risks of using products containing corticosteroids. With a focus on external looks and addressing skin disorders without compromising on safety, organic face creams and lotions are becoming increasingly popular among discerning consumers. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased availability of specialized face creams is notably driving the market growth. Specialized face care products to address specific skin concerns, such as skin whitening, anti-aging, acne treatment, and blemish removal, have become popular. Vendors such as The Nature Co. offers specialized products such as sandalwood-turmeric anti-blemish cream, focus anti-aging cream, garlic anti-acne cream, and Asiatic Centella anti-wrinkle cream, that offer solutions for specific skin types and textures.
Additionally, willingness to spend on specialized beauty care products, especially in countries such as the US and India, has encouraged vendors to introduce specialized products as premium products. This popularity of premium specialized face products is expected to boost the facial cream market during the forecast period.
The growing prominence of social media influencers is a major trend in the market. The rapid global penetration of smartphones has been the key to the rising prominence of digital media as a key communication and marketing channel. Manufacturers of face care products invest in social media campaigns in developed markets, such as the US, for product promotions and wider marketing outreach. The popularity of social media influencers in these markets has led major brands, such as LOreal SA, to develop strategic partnerships with influencers, especially for their beauty and makeup brands.
Moreover, micro-influencers, with around 2,000 to 50,000 followers on any social media channel and focus on a niche passion, topic, or market, have grown in stature as opinion leaders in the global face care product market over the last few years. Hence, vendors such as L'Oreal SA invest in micro-influencers instead of expensive celebrity endorsements. The engaged fanbase, lower price point, higher authenticity, and ease of marketing, help micro-influencers to replace celebrities as the preferred communicator for face products. Thus, the popularity of social media influencers is expected to help the markets such as India and China grow.
The growing concerns over the safety of synthetic ingredients in face creams are a major challenge impeding the market. The side effects of synthetic ingredients used in face care products have been the principal concern for the growth of the market over the last few years. Synthetic ingredients, such as benzoyl peroxide, triclosan, parabens, hydroquinone, sulfates, fragrances, resorcinol, synthetic colors, petroleum, methylisothiazolinone, silicones, colorants, mineral oils, phthalates cause skin problems such as skin irritation, allergies, and even skin cancer.
Further, according to the World Health Organization (WHO), mercury, which is used as a skin-lightening agent in such creams and anti-aging products, is hazardous to the skin. Glycol ether, which is a common preservative used in skin cosmetics and personal care products, is harmful to the skin when used in higher concentrations. The health implications related to the use of synthetic ingredients in these creams have forced manufacturing vendors to seek natural and organic alternatives, thereby increasing R&D and overall production costs. Overall, the safety concerns over the use of synthetic ingredients are expected to hamper the facial cream market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
LOreal SA- The company offers consumer products, and active cosmetics among others, with a high focus on consumer products.?
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the anti-aging cream segment will be significant during the forecast period. Anti-aging creams for the face are primarily moisturizer-based, cosmeceutical care products, which aim to reduce, mask, and prevent the signs of aging.
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The anti-aging cream segment was valued at USD 13.65 billion in 2018. Common issues that anti-aging creams address are laxity of skin, wrinkles, puffiness, and dark circles around the eyes. Owing to rapid changes in lifestyles and environmental conditions, the aging process for middle-aged and old consumers has become faster, affecting the wellness and physical appearance of these consumers. This drives the demand for anti-aging products. Several vendors, such as L'Oreal SA and Unilever PLC, offer a range of anti-aging creams for men and women. The growing demand for anti-aging creams, especially among baby boomers, is expected to continue to boost the segment during the forecast period.
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APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China and India are the key markets for the product in the APAC region. The rapid growth of the beauty industry in the region over the last few years has also spurred the number of beauty salons in countries such as China, India, and Japan. This contributes to the demand for facial cream products. Personalized promotional strategies to market these creams through celebrity endorsements and on social media help vendors expand their customer pool. Awareness of the uses of such creams and the presence of several established international and regional vendors in APAC are expected to help the market grow.
Further, a key challenge for the market in APAC is the circulation of counterfeit products. These products replicate the packaging and labeling features of established brands and are cheaper. They also have severe health implications, which is one of the key threats to established brands. However, rising consumer awareness about the benefits of authentic facial cream products and the willingness to spend on beauty care products are expected to drive the facial cream market in APAC during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is witnessing a surge in demand for organic and natural skincare solutions catering to diverse skin textures and needs. Consumers are gravitating towards premium face creams that offer multi-benefit combinations such as anti-aging properties and protection against skin diseases. Innovations like sandalwood-turmeric creams and anti-blemish creams are gaining popularity for their effectiveness in addressing specific concerns like age spots and fine lines. Manufacturers are focusing on incorporating organic and plant-based components like aloe leaf juice, seed oil, and fruit pulp extracts known for their moisturizing and repair properties. With a growing emphasis on moisturizers, hydration, and sun protection, the market caters to a wide range of demographics, including middle-aged people concerned about aging issues and teenagers dealing with oily skin. Social media initiatives and personalized promotional tactics further drive the market, making face creams an essential part of personal care and grooming routines for consumers seeking healthy, glowing skin and self-confidence.
Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.21% |
Market Growth 2024-2028 |
USD 12.20 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.85 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
China, US, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amway Corp., Avon Products, Beiersdorf AG, Â International Laboratories Corp. Ltd., Johnson and Johnson Services Inc., Kao Corp., Libby Laboratories Inc., LOreal SA, Lotus Herbals Pvt. Ltd., Lucas Meyer Cosmetics, Oriflame Cosmetics S.A., Procter and Gamble, Reckitt Benckiser Group Plc, Reviderm AG, Shiseido Co. Ltd., The Body Shop, The Estee Lauder Companies Inc., The Himalaya Drug Co., The Natures Co., Unilever PLC, and Verona Products Professional Sp. z o.o. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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