Face Cream Market

Face Cream Market Outlook (2023 to 2033)

The global face cream market is estimated at US$ 57.57 billion in 2023, as per a new research report published by Fact.MR. Worldwide demand for face care products is forecasted to rise at a CAGR of 3.7% and reach a market value of US$ 82.8 billion by the end of 2033. Rising demand for organic and natural face creams, along with increased availability of several specialized face creams, is contributing to market expansion.

For instance :

• DMPI is a Swiss publisher of scientific journals with open access. In June 2020, it published a survey about the women who applied organic skincare products continuously for 28 days and noticed improvements in their skin that resulted in improved self-esteem, happiness, and feelings of empowerment.

Blemish removal, acne treatment, anti-aging, and skin whitening are some key concerns that are addressed by specialized creams. Some vendors, including The Nature Co., provide specialized products, including anti-blemish creams based on sandalwood and turmeric, etc. for specific skin textures and types.

Key Market Growth Drivers

• More consumers are now significantly spending on specialized beauty products, including premium face creams, which is driving market opportunities.
• Prominence of social media influencers with a larger fan base is predicted to stimulate consumers to opt for multiple types of beauty products.

In recent years, demand for products with multi-benefit combinations has been increasing. Different products, including foundations in combination with anti-aging serums, have been introduced in the global market.

• The market in China is forecasted to expand at 7.2% CAGR and reach a value of US$ 16.21 billion by 2033-end.
• Sales of anti-aging creams are projected to advance at a CAGR of 3.8% and reach US$ 30 billion by 2033.

Stringent regulations have been implemented by several government agencies governing the use of certain ingredients in the production of cosmetics. These ingredients can lead to toxicity and skin diseases and thus impede opportunities for suppliers.

Report Attributes	Details
Face Cream Market Size (2022)	US$ 55.51 Billion
Estimated Market Value (2023)	US$ 57.57 Billion
Forecasted Market Value (2033)	US$ 82.8 Billion
Global Market Growth Rate (2023 to 2033)	3.7% CAGR
United States Market Value (2022)	US$ 15.11 Billion
Sales Value of Anti-aging Creams (2033)	US$ 30 Billion
Germany Market Growth Rate (2023 to 2033)	2.1% CAGR
China Market Growth Rate (2023 to 2033)	7.2% CAGR
Key Companies Profiled	Beiersdorf AG Unilever Group Reckitt Benckiser Group Plc L’oreal SA The Procter & Gamble Co. Johnson & Johnson Shiseido Co. Ltd. Kao Corp. The Estee Lauder Companies Inc. Coty Inc. The Avon Company

What are the Future Prospects for Face Cream Manufacturers?

“Rising Demand for Specialized Face Creams”

Easy availability of several specialized face creams is significantly driving market opportunities. Products for face care are used prominently to address certain skin concerns, including anti-aging, blemish removal, acne treatment, and skin whitening. Anti-blemish creams, sandalwood-turmeric creams, focus anti-aging creams, anti-wrinkle creams, and garlic anti-acne creams are some popular products in the industry.

Many consumers around the world, especially from developed countries, are willing to spend on different specialized beauty products. This encourages vendors to come up with some specialized products, including premium beauty & personal care products.

“Increasing Prominence of Social Media Influencers in This Industry”

Social media influencers are anticipated to drive trends in the industry. Moreover, the rapid penetration of smartphones is one of the key contributors to the prominence of digital media as a marketing and communication channel. Manufacturers of skin rejuvenation products are investing in social media campaigns in developing as well as developed countries for wider marketing outreach and product promotion.

Growing popularity of social media influencers has led prominent brands, including L’Oreal SA, to enter into strategic partnerships with them, especially for the promotion of these companies’ makeup and beauty brands. Higher authenticity, ease of marketing, lower price point, and engaged fanbase help influencers replace celebrities and become the face of different brands. Therefore, the rising popularity of various social media influencers is estimated to help the market grow significantly.

What’s Adversely Impacting the Sales Growth of Face Creams?

“Growing Concerns about Safety of Synthetic Ingredients”

Increasing concerns about the safety of synthetic ingredients used in face creams are impeding industry growth. Various synthetic ingredients, including triclosan, benzoyl peroxide, parabens, sulfates, hydroquinone, fragrances, synthetic colors, resorcinol, petroleum, silicones, methylisothiazolinone, colorants, phthalates, and mineral oils cause different skin problems. Some of them include allergies, irritation, and sometimes even skin cancer.

Mercury, which is utilized as a skin-lightening agent in various anti-aging creams, is hazardous to human skin, according to the World Health Organization. Glycol ether, which is commonly used as a preservative in personal care products and skin cosmetics, causes harm to the skin if overused.

Which Market Trends are Anticipated to Help Start-ups Generate Higher Profits?

“Production of Face Creams from Organic Components”

Growing consumer awareness about natural cosmetics is estimated to bring significant changes in the face cream market. Various cosmetic companies are aiming to minimize the use of synthetic components that can be the ideal method used for skin protection. Start-ups are inclined to use organic and plant-based components instead of synthetic ones.

Use of organic skin rejuvenation creams is essential as it maintains the elasticity and moisture of the skin and thus helps in reducing the appearance of age spots, wrinkles, and other fine lines. Moreover, face creams work as a protection barrier for human skin. Therefore, these advantages are estimated to contribute to the growing demand for organic skincare products.

Country-wise Insights

Asia Pacific is a prominent revenue contributor to the global market and is predicted to hold 51.1% market share by 2033-end. This growth is attributed to the increasing number of salons in key regional markets that are positively influencing the sales of face creams. Further, North America is also predicted to contribute significantly to revenue streams because of the growing inclination of various consumers towards natural skin care products.

What Opportunities Await Market Players in the United States?

“Growing Use of Natural Ingredients to Address Skin Irritation Issues”

A majority of Americans are inclined to use face creams and the sales of the same reached US$ 15.11 billion in 2022. Many consumers in the United States use personal care products produced from natural ingredients. Players are focusing on formulating beauty products with natural ingredients.

For instance :

• Josie Maran, in January 2023, expanded its product portfolio with the introduction of anti-aging face cream with Pro-Retinol Megamoisture. More than 30 moisturizing ingredients, including aloe leaf juice, seed oil, fruit pulp extracts, argan oil, and shea butter, are used in this product.

Why is There a Promising Future for Face Cream Vendors in the United Kingdom and Germany?

“Cold Climate Generating Hugh Demand for Face Creams for Managing Dry Skin”

The German market is forecasted to advance at a CAGR of 2.1% from 2023 to 2033, according to the study published by Fact.MR. The cold climate in many countries in Europe, including the United Kingdom and Germany results in dry and dull skin. This factor is predicted to increase the demand for moisturizing products, including face creams, etc.

Rising awareness about skin health, combined with the benefits of moisturizers such as preventing water loss, enhancing skin hydration, and improving skin texture, is forecasted to boost the revenue of face cream suppliers.

Which Markets in the Asia Pacific Will Offer Rewarding Opportunities?

“Increasing Number of Beauty Salons in India, Japan, and China Fueling Face Cream Consumption”

The Japanese market is predicted to expand at a sluggish CAGR of 1.2% through 2033. Further, sales of face creams in China are projected to rise at a 7.2% CAGR and reach a value of US$ 16.21 billion by 2033-end.

Japan, India, and China are prominent markets in Asia Pacific owing to the significant growth of the beauty & personal care industry. This has contributed to the rising number of beauty salons in the countries, thus fueling demand for face creams. Certain personalized promotional strategies, including celebrity endorsements, social media platforms, etc., are expanding the customer pool.

Growing awareness about the use of dermatologist-tested face creams along with the presence of various established regional and international vendors in Asia Pacific is helping in market expansion.

Category-wise Insights

Worldwide sales of anti-aging creams are anticipated to reach US$ 30 billion by 2033-end due to the early start of aging issues among middle-aged people. Moreover, demand for face creams is also estimated to increase from men as various brands are coming up with products especially dedicated to this consumer base.

For instance :

• Chanel, in 2018, launched a dedicated brand for men named “Boy De Chanel.” This is entirely dedicated to grooming products for men.

Why is Preference for Anti-aging Creams Growing?

“Extensive Use of Anti-aging Creams to Address Wrinkles and Skin Laxity”

Worldwide demand for anti-aging cream is predicted to accelerate at a CAGR of 3.8% and reach a market value of US$ 30 billion by 2033. Based on product, the global industry is classified into anti-aging creams, moisturizer & anti-acne creams, and skin whitening & sun protection creams. A significant number of consumers are inclined to use anti-aging creams. Anti-aging creams address some common issues, including wrinkles, dark circles around our eyes, laxity of skin, and puffiness.

The process of aging generally starts early in middle-aged people due to constant changes in lifestyles along with environmental conditions. This affects consumer’s physical appearance and wellness. Therefore, a significant increase in the demand for different anti-aging products is experienced. Many players, including Unilever PLC and L’Oreal SA, provide a wide range of anti-aging products for women as well as men.

Why Do Women Account for Higher Demand for Face Creams?

“Increasing Workforce Participation and High Social Media Engagement among Women”

Women are projected to account for a significant share of the market revenue with their active participation in professional workplaces. This leads to their increasing spending capacity on personal care & grooming products, including face cream. In addition, the influence of social media platforms in promoting detailed skincare routines to maintain glowing and healthy skin is also stimulating women to adopt various types of face creams.

Competition Analysis

Companies in the face cream market are adopting multiple strategies to achieve their goals, including new developments, ensuring quality control of products, management of supply chain systems, etc. Key players are striving to gain a competitive edge in the industry through mergers & acquisitions and collaborations.

For instance :

• L’Oreal SA, in September 2022, acquired Skin Better Science. The latter is an American skincare brand that is physician-dispensed and is popular for formulating various innovative products with the use of active ingredients for moisturizing, anti-aging, exfoliating, sun protection, skin peeling, and cleansing. The brand is supported by detailed knowledge of chemistry and skin with clinical trials that are led by some board-certified dermatologists.

Key suppliers of face cream products are Beiersdorf AG, Unilever Group, Reckitt Benckiser Group Plc, L’oreal SA, The Procter & Gamble Co., Johnson & Johnson, Shiseido Co. Ltd., Kao Corp., The Estee Lauder Companies Inc., Coty Inc., and The Avon Company.

Segmentation of Face Cream Industry Research

• By Product :

  • Anti-aging Creams
  • Moisturizer & Anti-acne Creams
  • Skin-whitening and Sun-protection Creams

• By Gender :

  • Female
  • Male

• By Application :

  • Sensitive Skin
  • Neutral Skin
  • Dry Skin
  • Oily Skin

• By Age :

  • 0 to 1
  • 2 to 25
  • 26 to 40
  • 41 to 55
  • More than 55

• By Distribution Channel:

  • Offline
  • Online

• By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa