Press release
Face Creams Market on Track for Strong Growth, Estimated to Grow at 9.9% CAGR Through 2029
Face Creams
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What Is the Expected CAGR for the Face Creams Market Through 2025?_x000D_
The market for face creams has seen a rapid expansion in recent years. The growth is estimated to continue from $17.97 billion in 2024 to $19.86 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%. Factors contributing to this substantial growth in the past have been increased awareness around skincare, the aging population, the rise in beauty and wellness trends, and retail distribution._x000D_
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What's the Projected Size of the Global Face Creams Market by 2029?_x000D_
The market size for face creams is anticipated to experience substantial growth in the forthcoming years, estimated to hit $28.96 billion by 2029, expanding at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in this period is likely due to factors like customization and personalization, the use of natural and clean ingredients, sustainability, and eco-friendly packaging, as well as the rising interest in men's skincare. Key trends forecasted for this period include the popularity of hybrid products, formulations friendly to the skin's microbiome, the growth of digital retail and e-commerce, and the emergence of CB*D-infused face creams._x000D_
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Top Growth Drivers in the Face Creams Industry: What's Accelerating the Market? _x000D_
The burgeoning need for natural and organic face creams is projected to fuel the growth of the face cream market in the forecast period. The increasing awareness of the dangers related to the extended use of face creams made of synthetic materials has led to a rise in the demand for natural and organic face creams. Manufacturers of face creams are concentrating on creating products employing natural ingredients like aloe vera, clay, hyaluronic acid, antioxidants, coconut, avocado, jojoba, argan oil, carrot seed extracts, sunflower, and olive oil. For instance, as reported by the International Trade Administration (ITA), a US government agency, in September 2023, the beauty products market of Thailand, valued at $4.2 billion in 2022, saw skincare account for 60%. Meanwhile, the skincare market, worth $2.5 billion, anticipated a 7% annual growth in 2023, with organic products making up 20-25% of it, even as there was a 71% upsurge in sales of makeup, notably lipsticks and foundations, compared to 2022. Hence, the escalating demand for natural and organic face creams propels the face cream market._x000D_
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What Trends Will Shape the Face Creams Market Through 2029 and Beyond?_x000D_
Prominent corporations active in the face cream industry are concentrating on inventing distinctive products such as face and eye creams, in order to maintain their market dominance. These skincare items are tailored to cater to distinct requirements of the face and the tender skin surrounding the eyes. For example, in October 2023, a health insurance firm from Spain, Sanitas, introduced Collagen + Elastin Face Cream and Collagen + Elastin Eye Cream. This product is formulated to enhance skin suppleness and diminish the visibility of fine lines and wrinkles. It is a lotion that combats wrinkles, backed by clinical evidence, that assists the skin in shedding old cells and provides an abundance of deep hydration._x000D_
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What Are the Main Segments in the Face Creams Market?_x000D_
The face creams market covered in this report is segmented - _x000D_
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1) By Type: Moisture, Healing, Anti-Aging, Other Types _x000D_
2) By Age: 0-1, 2-25, 26-40, 41-55, >55 _x000D_
3) By Gender: Female, Male_x000D_
4) By Distribution Channel: Multi-Brand Retail Outlets, Online Platforms, Super markets Or Hyper markets, Exclusive Retail Stores, Beauty Parlors Or Salons _x000D_
5) By Application: Oil Skin, Dry Skin, Neutral Skin, Sensitive Skin, Other Applications _x000D_
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Subsegments:_x000D_
1) By Moisture: Hydrating Creams, Nourishing Creams, Day Moisturizers, Night Moisturizers _x000D_
2) By Healing: Repair Creams, Soothing Creams, Sensitive Skin Creams, Scar and Blemish Treatment Creams _x000D_
3) By Anti-Aging: Wrinkle Reduction Creams, Firming Creams, Lifting Creams, Brightening Creams _x000D_
4) By Other Types: Sunscreen Creams, Whitening Creams, Acne Treatment Creams_x000D_
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Which Top Companies are Driving Growth in the Face Creams Market?_x000D_
Major companies operating in the face creams market include 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 _x000D_
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Which Regions Will Dominate the Face Creams Market Through 2029?_x000D_
Asia-Pacific was the largest region in the face creams market in 2023. Western Europe was the second-largest region in the global face creams market. The regions covered in the face creams market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa._x000D_
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