Aesthetics is one of the fastest growing segments in the cosmetics industry. Facial care market includes products and devices used for facial treatment to aesthetically improve the structure of a facial tissue or parts, such as, nose, eyes, ears, or lips. Health concern and rise in demand for advanced cosmetic products drive the growth of the facial care market globally.
Increase in demand for procedures, such as, skin rejuvenation, facial care, microdermabrasion, etc., shorter recovery time, long-lasting results, growth in GDP of developing economies, increase in the number of dermatological and beauty clinics with improved infrastructure, and surge in medical tourism are some of the major factors contributing to the growth of the facial care market globally. However, unfavorable reimbursement policies, competitive pricing and costs, and shortage of experienced professionals to perform facial care procedures in developing countries are hindering the growth of the market.
The global facial care market can be segmented based on type of product, application, and region. Based on type of product, the market can be divided into cleansing wipes, anti-aging, BB creams, moisturizers, skin toners, face wash, serums and masks, facial creams, skin whitening or lightening, and others. Among these, the skin whitening and anti-aging segment constitute the leading share of the face care market in the current year and are expected to dominate the market during the forecast period. Based on application, the global facial care market can be classified into applications for men and women. The application for women segment accounts for the major share of the facial care market presently and is expected to continue with the trend during the forecast period, owing to increase in demand for facial care products and devices in women across the globe.
In terms of region, the global facial care market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to be a prominent market for facial care in the near future due to availability of advanced, customized treatment options, rise in the importance of personal appearance, technologically advanced health care infrastructure, and availability of experienced dermatologists and cosmetic surgeons to prescribe the use of facial care products. The facial care market in Europe is expected to grow rapidly during the forecast period due to increase in awareness and concern regarding personal appearance. In terms of revenue, Germany and the U.K. are the leading markets for facial care in Europe. The facial care market in Asia Pacific is likely to expand significantly in the next few years, owing to rise in awareness about aesthetic solutions, growing popularity of multi-functional products, and entry of multi-national players in the region, which has increased the visibility and availability of latest technology products. China dominates the facial care market in Asia Pacific, attributed to the large population size and growth in GDP of the nation.
Major players operating in the facial care market are Johnson & Johnson, Glytone, VLCC Health Care Limited, Syneron Medical Ltd., Estee Lauder Company Ltd., Allergan plc, Galderma, G. D. Pharmaceuticals Private Limited, L’Oreal S.A, Unilever Ltd., and Shiseido Co. Ltd., The Procter and Gamble Company, Kose Corporation, and Kao Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.