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Face Creams Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Face Creams Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071978
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the face creams market are Johnson & Johnson Services Inc., L’Oreal S.A., Procter & Gamble, The Estee Lauder Companies Inc., Unilever, Alticor Inc., The Body Shop International Limited, Avon Products Inc., Oriflame Cosmetics AG and Shiseido Company Limited.

The global face creams market is expected to grow from $10.78 billion in 2020 to $12.59 billion in 2021 at a compound annual growth rate (CAGR) of 16.8%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.43 billion in 2025 at a CAGR of 8%.

The face creams manufacturing market consists of the sales of face creams. Face creams are cosmetic creams or lotion, consisting of any of various substances in the form of a thick liquid, applied to the face to improve the complexion and for softening and moisturizing the skin.

The rising demand for natural and organic face creams is expected to drive 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.According to Livemint analysis, the contribution of natural products to personal care has increased to 35% in 2019.

According to the survey conducted by Kari Gran, 75% of millennial women prefer buying products manufactured from natural ingredients. This is expected to drive the face creams market.

Strict regulations by government agencies on the use of certain ingredients in making cosmetics is expected to act as a key restraint on the market.These ingredients are prohibited due to their toxicity and their use may lead to various skin diseases.

The EU Cosmetics Regulations lists substances that cannot be used and also those that can be used only in specified circumstances. Similarly, the US Food and Drug Administration (FDA) prohibits or restricts a list of ingredients in cosmetics. These prohibited substances include bithionol, chloroform, mercury compounds, methylene chloride, vinyl chloride and chlorofluorocarbon propellants

The face creams market covered in this report is segmented by type into moisture, healing, anti-aging and others. The face creams market in this report is segmented by application into oil skin, dry skin, neutral skin, sensitive skin and others.

The demand for multi-benefit combinations has been increasing rapidly. Products such as foundations with anti-aging serums, nail polish with UV protection and anti-aging claims are introduced into the market. Multi-benefit solutions are expected to continue to penetrate further into different categories such as hair care with anti-aging or fragrance to lipsticks with lip care

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