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Face Oil Market - Global Industry Share, Growth, Trends, and Forecast 2017 - 2025
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This is attributed to high demand of face oil for moisturizing due to its benefits on the skin by providing various nutrition to the skin. The anti-ageing beauty oil segment is forecast to witness the most rapid growth rate during the forecast period of 2017-2025 owing to increased skin care concerns among female consumers and rising popularity of anti-ageing products for younger looking skin. Based on distribution channel, the global market for face oils is segmented into online and offline channels. Offline channel is further sub-divided into specialty retail stores, supermarkets & hypermarkets and departmental stores. Offline channel held the majority market share in 2016 and is forecast to witness a substantial growth rate during the forecast period. This is attributed to high sales rate of face oils in specialty retail stores and departmental stores. Online distribution channel is forecast to witness the most rapid growth rate during the forecast period owing to increasing popularity on online shopping especially among the urban population.
Major drivers driving the global face oil market includes increasing demand for face oils among ageing population globally. In addition, growing demand for facial cleansing oil in beauty salons and spas is a major driver, driving the global market for face oils. Cleansing face oils not only cleans the face of all dirt and impurities but also moisturizes and hydrates the skin keeping it supple. Therefore, there is increased demand for this segment. Consumer’s growing concern about appearance is also a major driver driving the global market for face oils. Harmful effect of chemicals used in face oils is a major restraint that is hindering overall market growth for face oils. Rising awareness among consumers about the harmful effect of chemicals on skin is a major restraint hindering market growth. New range of products being launched and variety of options in the market for face oils will prove to be great opportunity to the global market for face oils in the coming years.
Geographically, the global market for face oil is segregated into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America held the largest market share in the global market for face oil in 2016 and is forecast to witness a steady growth rate during the forecast period of 2017-2025. This is attributed to new products being introduced early in the region and high adoption of consumers which has resulted in such high market share. Europe held the second most dominant market share in the global face oils market. Asia Pacific is expected to witness the fastest growth rate during the forecast period. Countries such as China, Japan and India are showing high demand with increasing skin conscious consumers in the region.
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Major players of the global face oil market includes Biersdorf AG (Germany), Estée Lauder Companies (U.S.), L'Oréal S.A. (France), Procter & Gamble Co. (U.S.), Shiseido (Japan), Amway (U.S.), Avon Products, Inc. (U.S.), Burberry Group Plc (U.K.), Chanel S.A. (France), Clarins (France), Johnson & Johnson (U.S.), Kao Corporation (Japan), Unilever (U.K.) and Revlon (U.S.) among others.
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