The facial care market includes cosmetic products used for caring of face and its features such as skin, lips, and eyelashes, for an attractive youthful appearance. There are numerous facial care products available in the market, such as masks, serums, face washes, cleansing wipes, pore strips, facial creams, toners, skin lightening creams and anti-ageing creams. The market’s end-user application is categorized on the basis of men and women. These facial care products are retailed through stores and non-stores channels. Non-store retailing is witnessing thrust as the manufacturers nowadays prefer advertising and selling products online, which also includes advertising and selling through social networking websites.
Rising global economy and increasing disposable income among consumers of developed and developing countries has fuelled the growth of the facial care market. Young people are becoming more fashion conscious and are trying to look more styling in order to express their individuality. The demand of fairness creams in Asia-Pacific market is increasing with increasing people awareness through media, supported by rising consumer disposable income. The market of fairness cream is increasing and it is also gaining popularity in the men’s group.
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Improved distribution networks and the rising popularity of multi-functional products available in the market are some of the major drivers contributing to the growth of facial care market. In addition, market is also driven by the presence of a variety of skin products. Facial care product holds the major market share in the skin care market. Some of the other factors propelling growth of the market include changing lifestyle of consumers, increased publicity and advertising, and increasing usage of fairness products. Online retailing and development of skin care products for men are the key opportunities for the market.
Some of the factors hindering the market growth include stringent government regulations and huge capital investment. Regulations play an important role, as many cosmetics used for facial care are chemically prepared and can damage the skin. Large investments are required for research and development, as some personal care products are toxic in nature, in order to assure the safety of the product or to make use of alternate raw materials such as natural and herbal products.
North America dominates the global facial care market. The market is likely to witness a speedy growth owing to development of a variety of products at domestic as well as international level. It is then followed by Europe. The facial care market in the Asia-Pacific is experiencing the highest growth, which is primarily driven by the availability of a variety of skin products.
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Some of the top competitors in the global facial care market are L’Oreal S.A., Kao Corporation, The Unilever Plc, Johnson and Johnson Limited, Procter and Gamble Company (P&G), Kose Corporation, Shiseido Co. Ltd. and Estee Lauder Companies Inc.
Some of the major competitors of the global ethylene market are Equistar Chemicals, BASF SE, LP, ExxonMobil Corporation, Chevron Phillips Chemical Company, The Dow Chemical Company, Formosa Plastics Corporation, U.S.A., INEOS, Sasol Ltd, Shell Chemical LP and Westlake Chemical Corporation among others.
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