The global face mask market is projected to grow at a CAGR of 6.46% during the forecast period.
- Application of natural ingredients such as extracting the active ingredients of plants and applied in the form of cream, clay, peel-off, warm-oil, sheet mask, has made face masks more popular amongst the millennials, as consumers are looking for more natural products rather the products with more chemicals.
- Increasing pollution and busy lifestyle have driven the adoption of a variety of skincare products across the globe, especially with increasing preferences for facial masks. Rising demand for organic and natural skincare along with cosmetic products that claim of offering multiple benefits such as moisturizing, anti-aging and treatment of acne/blemishes is expected to offer a favorable scope for the market growth of facial masks.
- Growing the adoption of skincare products by men is another major factor driving the growth of the global face mask market. The rising number of retail chains in developing countries and the availability of several types of skin masks coupled with the development of e-commerce is resulting in easy availability of face masks, which is another key factor fueling the growth of the global market.
Key Market Trends
Rising Popularity of Sheet Mask
Sheet masks have now gained popularity on a global level as the masks work against the pollution, dirt, and oil, which has built up on the skin. The masks are filled with highly beneficial ingredients, such as hyaluronic acid and vitamins. The sheets prevent the ingredients from evaporating and moreover adds to the time required to penetrate deep into the skin. Hence, the fast-moving lifestyles, pollution, product efficacy and safety and the need for ingredients to keep the skin young and healthy are the factors boosting the growth of the market. Furthermore, increase in demand for Korean beauty products owing to the natural ingredient base such as aloe extracts and green tea used in the formulation is anticipated to drive the market in the coming years.
Asia Pacific Dominates the Market
The Asia Pacific dominated the global market owing to high product consumption in countries such as South Korea and China. Continuous product innovation has been witnessed in recent years owing to the increasing demand for skincare products in these countries. The consumers in this region follow intensive skincare routines in which the application of the face mask is an important step as it hydrates the skin, making it soft and glow. Peel off mask, cream mask and clay mask will continue to be top-selling products due to their properties such as temporary skin tightening, stimulation of blood supply, elimination of impurities and dirt, moisturizing and softening the skin and thereby increasing the demand.
The global face mask market is fragmented with the presence of numerous players. The key players are using growth strategies including mergers and acquisitions, expansion, new product development and partnerships to fuel market growth. There are several prominent players in this industry, such as, Procter & Gamble, Est?e Lauder Inc, L’Oreal Paris among others.
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