The rising popularity of personal care products that can be used in multiple ways, such as BB and whitening facial creams as well as face scrub and wash products are stimulating high growth within the facial care market. Furthermore, the growth within the facial care market is also driven by the rising awareness about maintaining proper skin health, rising demand for natural and clean label personal care products, presence of a diverse range of innovative personal care solutions, and the increasing need to smoothen and aesthetically uplift one’s appearance is also favouring the development of the facial care market.
Additionally, the increasing number of distribution channels as well as the rising customer preference for online distribution channels, such as e-commerce platforms as well as company websites and company online stores are also aiding in stimulating high sales within the facial care market. On the other hand, the availability of various ow priced counterfeit products as well as the risk of several side effects of using particularly strong and synthetically produced skin care products may ultimately hinder the growth of the facial care market.
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Increased Spending Capacity of Customers Triggers High Growth in Facial Care Market
However, increase in the working female population, rising per capita spending in emerging regions, owing to increase in the disposable income, and rapid paced urbanization are positively affecting the facial care market outlook. Moreover, the increasing demand for anti-aging creams and solutions from elderly population are also triggering high sales of facial care products and solutions.
The market segmentation of facial care products offers information pertaining to various solutions and products, such as facial creams, cleansing wipes, fade creams, toners, skin whitening or lightening creams, face wash, serums, pore strips, face masks, and anti-aging creams, among others. Key economies covered within the facial care market analysis include Japan, Indonesia, Hong Kong, Thailand, Australia, China, India, Malaysia, South Korea, and New Zealand, among others.
Players in Facial Care Market Focused on R & D to Develop Innovative Products
Some of the most promising and major players functional within the facial care market include Johnson and Johnson Limited, Kose Corporation, Proctor and Gamble Company (P & G), The Unilever PLC, Estee Lauder Companies, Inc., Kao Corporation, L’ Oreal S. A., and Shiseido Co., Ltd., among others. According to the facial skincare industry trends, the manufacturers and players in the facial care market are focused on increasing their investments to come up with new and innovative products.
Furthermore, some of the key players in the personal care products industry, who work within the domain of the facial care market are also focused on producing high quality and green products that use low amount or no amount of chemical additives, rather use completely natural components and ingredients. Additionally, according to the latest facial skincare industry trends, the constantly rising demand for organic and completely natural skin care products is also boosting the sales within the industry.
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Players in Facial Care Market Focused on Partnerships and Collaborations
To meet the constantly rising demand for innovative and natural products, the manufacturers and key leading players in the facial care market are expanding their current product inventories to meet the diversified requirements from a wide variety of end users. Apart from research and development activities and the increasing investments, some of the other essential growth strategies employed by the prominent players in the facial care market include geographical expansion as well as mergers and acquisitions.
Some other notable strategies adopted by these players include strategic collaboration as well as partnerships. For example, a three year global strategic partnership between an internet and technology company ‘Tencent’ and Shiseido Company Limited in December of 2021. Apart from this, an online skin care company from China, ‘YAT’, as well as Aptar Group, Inc., was a strategic collaboration in July of 2021 in order to expand their combined portfolio of innovative skin care services as well as products.