Facial Care Market Explores New Growth Opportunities by Leading Manufacturers
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.
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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.
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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.
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