Facial Care Market Report

The increasing adoption of facial creams by women, along with the leadership of these segments, is further fueling the growth of the global facial care market. Facial creams are an admired segment in the skincare industry, providing a range of advantages for various skin types and issues. For a small price, facial creams can enhance and illuminate facial skin, enhancing its overall appearance. Moreover, facial creams are flexible remedies that target various skin concerns, ranging from combating signs of aging to providing typical hydration. The simplicity and safety of their usage are major reasons for the widespread popularity of face creams. However, intensive advertising efforts and celebrity backing have played a role in the rise in popularity of face creams.

Along with facial creams, women are a major driving factor in the global facial care market. This is because women are increasingly financially self-sufficient and investing more in personal grooming products. Moreover, the rising presence of working-class professionals has significantly boosted the global need for facial care products. The expected trends include the continual growth of the business sector and the increasing importance of maintaining a professional appearance. The increasing importance of multifunctional products and wider distribution channels is fueling the expansion of the global market. However, the data present in ‘UK Government’ explains the female employment rate more than 76.90% of females are working professionals.

The primary threat to the global facial care market is product recalls, especially due to safety concerns. It has the potential to undermine consumer confidence in both the brand and the overall facial care industry. Consumers may start feeling cautious about testing out new products or even trusted brands they once considered dependable. A recall of a product can lead to heightened scrutiny by regulatory agencies. This may result in more stringent regulations being imposed on the facial care sector, causing an increase in the cost and time required for the development and release of new products.

Recalls have the potential to create significant negative attention, harming the reputation of the brand and possibly impacting sales of their other offerings. This can be particularly harmful in the beauty sector, where appearance plays a crucial role in sales. For instance, in March 2024, Valisure LLC, an independent testing lab, submitted a request to the US Food and Drug Administration (FDA) for the recall of medications with high levels of the cancer-causing substance for further examination by regulators. Valisure examined 66 BPO products, such as creams, lotions, gels, and washes, that can be purchased over the counter at major retailers or through a prescription.

At present, FDA regulations permit 2 parts per million of benzene, while Valisure discovered acne products with 12 times the permissible level. Furthermore, the concentration of benzene in parts per million showed a notable rise during testing of acne products at elevated temperatures meant to simulate their degradation with age.

Major market players make use of marketing strategies focused on new product launches, mergers, and acquisitions in order to enhance their consumer base and improve their product portfolio. For instance, in March 2024, L’Oréal Group unveiled Melasyl, a revolutionary molecule specifically created to target pigmentation problems causing age spots and post-acne marks. Cosmetic products containing Melasyl, which has multiple patents, assist in achieving a more uniform and natural skin tone, targeting even the most stubborn marks. After nearly two decades of study, Melasyl has been developed and is now part of La Roche Posay's Mela B3 line, which includes MelaB3 serum and MelaB3 SPF30. L’Oréal Paris and Vichy’s product launches provide consumers with more access to expert formulations that include the new ingredient.

However, in August 2023, OLAY released its newest technological advancement, ‘OLAY Super Serum', a powerful skin care innovation containing activated niacinamide, vitamin C, collagen peptide, vitamin E, and alpha-hydroxy acid (AHA), to provide an unmatched skin transformation. The OLAY, known for being at the forefront of niacinamide research and publication, uncovered a major discovery of activated niacinamide. Researchers from OLAY in the United States and Singapore investigated the creation of a fresh skincare product containing niacinamide activated by low pH, revealing its enhanced effectiveness. By incorporating niacinamide, the product enhances its performance on the skin, delivering superior results in evening out skin tone and enhancing skin texture.

In addition, in April 2023, Estée Lauder Companies Inc. finalized the purchase of the Tom Ford brand, making them the exclusive owner of the brand and its intellectual property. Moreover, in April 2024, NIVEA Q10 Dual Action Serum, a new anti-aging product, will soon be on store shelves. This new formula combines GLYCOSTOP, only available from Beiersdorf, with the trusted anti-wrinkle ingredient Q10 in a unique way. These two powerful components have a dual function that halts skin aging by inhibiting the glycation of proteins like collagen1; by increasing the skin's Q10 levels, it boosts energy and enhances protection against free radicals. The freshly developed serum begins to show results immediately and has been verified in clinical studies to visibly decrease the most stubborn wrinkles in just two weeks.

Asia-Pacific is expected to hold a significant share of the facial care market during the forecast period. The population in the Asia-Pacific region is increasing, leading to a larger middle class that has extra money to spend on beauty products. This results in a large number of consumers interested in facial care products in the Asia-Pacific region. The importance of skincare is increasingly recognized due to factors such as higher disposable income, social media influence, and urbanization. This results in an increased need for facial care items. Customers in the region are showing a growing preference for natural and organic beauty products. Numerous Asian nations have a rich history of incorporating herbal components into skincare, a practice that is steadily gaining popularity.

In 2024, studies conducted with data from the NIH state that 36.6% of students with acne tried self-treating their condition, making up 45.2% of all students with acne. This discovery is comparable to a study in Pakistan where 50.4% of individuals with acne practiced self-treatment. Another study in India found that 59.2% of participants had acne, with 26.6% using face wash specifically for acne. Furthermore, a few individuals also utilized cosmetic products like coal cream masks and blackhead remover creams for acne treatment. Topical retinoids were used by 28.9%, topical salicylate by 10.2%, topical antibiotics by 17.2%, and topical corticosteroids like betamethasone by 6.3%. Thus, it leads to a high level of demand for facial care products among consumers in the Asia-Pacific region.

The North America and Europe region is expected to grow at the fastest pace in the global facial care market during the forecast period. Consumers in North American countries such as the United States and Canada are eager to invest a significant amount of money in products that promote radiant and youthful-looking skin. There is a growing demand for personalized beauty products as consumers become more aware of certain chemicals and seek out specific skincare items. Furthermore, European consumers are becoming more aware of their health and are choosing natural, organic ingredients as a top priority in their skincare regimens. This increase in demand has resulted in a rise in popularity for botanical extracts, essential oils, and ethically sourced ingredients.