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Face Creams Market Archiving Market Forecast Report 2024-2033 | Share, Overview, Outlook
Face Creams Market Archiving Market Forecast
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According to The Business Research Company's, The face creams market size has grown rapidly in recent years. It will grow from $16.23 billion in 2023 to $17.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to skincare awareness, aging population, beauty and wellness trends, retail distribution.
The face creams market size is expected to see rapid growth in the next few years. It will grow to $26.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to customization and personalization, natural and clean ingredients, sustainability and eco-friendly packaging, men's skincare. Major trends in the forecast period include hybrid products, microbiome-friendly formulations, digital retail and e-commerce, cb*d-infused face creams.
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Market Drivers and Trends:
The rising demand for natural and organic face creams is expected to drive the face cream market growth during the forecast period. With the growing awareness of the risks associated with the prolonged use of face creams made from synthetic materials, the demand for natural and organic face creams has increased. Face cream manufacturers are focusing on developing products using natural ingredients such as aloe vera, clay, hyaluronic acid, antioxidants, coconut, avocado, jojoba, argan oil, carrot seed extracts, sunflower, and olive oil. For instance, in March 2022, according to Cosmetics Design, a US-based manufacturer of cosmetics, sales of Soil Association-certified natural, organic, and cosmetic products increased by 15% in 2021, bringing in $181.74 million (£138.23 million). Sales of COSMOS-certified products increased by 32% in 2021 over 2020, and 50,000 products and ingredients were also certified by the COSMOS standard in 2021. This is expected to drive the face cream market.
Major companies operating in the face cream market are focusing on developing innovative products, such as face cream and eye cream, to sustain their position in the market. Face cream and eye cream are skincare products designed to address specific needs of the facial skin, particularly the face and the delicate skin around the eyes. For instance, in October 2023, Sanitas, a Spain-based insurance company, launched Collagen + Elastin Face Cream and Collagen + Elastin Eye Cream. This product is designed to improve skin elasticity and reduce the appearance of fine lines and wrinkles. It is a wrinkle-fighting lotion with clinical proof that helps the skin get rid of old cells and offers a massive amount of rich moisture.
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Major Key Players of the Market:
Johnson & Johnson Services Inc., L'Oreal S.A., Procter & Gamble Co., The Estee Lauder Companies Inc., Unilever N.V., Alticor Inc., The Body Shop International Limited, Avon Products Inc., Oriflame Cosmetics AG, Shiseido Company Limited, Kao Corporation, Edgewell Personal Care Co., Coty Inc., Beiersdorf AG, Amorepacific Corporation, Chanel S.A., Clarins Group, Colgate-Palmolive Company, Dermalogica Inc., Elizabeth Arden Inc., Henkel AG & Co. KGaA, Kiehl, LVMH Moët Hennessy Louis Vuitton SE, Mary Kay Inc., Natura & Co., Neutrogena Corporation, Olay, Origins Natural Resources Inc., Revlon Inc., The Proactiv Company LLC, Vichy Laboratories
Face Creams Market 2024 Key Insights:
• The face creams market size is expected to see rapid growth in the next few years. It will grow to $26.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Surging Demand For Natural And Organic Face Creams Propels Market Growth In Response To Growing Consumer Awareness
• Introduces Collagen + Elastin Face Cream And Eye Cream For Enhanced Skin Health
• Asia-Pacific was the largest region in the face creams market in 2023
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