Face Creams Global Market Report 2024

The face creams market size has grown rapidly in recent years. It will grow from $16.23 billion in 2023 to $17.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth experienced in the historical period can be attributed to several key factors, including increased awareness of skincare, a growing aging population, prevailing beauty and wellness trends, and the distribution of these products through various retail channels.

The face creams market size is expected to see rapid growth in the next few years. It will grow to $26.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The anticipated growth in the forecast period can be attributed to several factors, including the rise of customization and personalization in the industry, a growing demand for products featuring natural and clean ingredients, a shift towards sustainability and eco-friendly packaging, and an increasing focus on men's skincare products. Furthermore, significant trends in the forecast period encompass the development of hybrid products, formulations that are microbiome-friendly, the expansion of digital retail and e-commerce in the sector, and the incorporation of CBD into face creams.

The increasing demand for natural and organic face creams is poised to be a driving force behind the growth of the face cream market in the upcoming forecast period. As consumers become more conscious of the potential risks associated with prolonged use of face creams containing synthetic ingredients, there is a growing desire for natural and organic alternatives. Manufacturers in the face cream industry are placing significant emphasis on developing products that utilize natural components, such as aloe vera, clay, hyaluronic acid, antioxidants, coconut, avocado, jojoba, argan oil, carrot seed extracts, sunflower, and olive oil. For example, in March 2022, as reported by Cosmetics Design, a US-based cosmetics manufacturer, sales of Soil Association-certified natural, organic, and cosmetic products surged by 15% in 2021, generating $181.74 million (£138.23 million) in revenue. Furthermore, sales of COSMOS-certified products experienced a remarkable 32% increase in 2021 compared to the previous year, with 50,000 products and ingredients attaining COSMOS certification in 2021. These developments are anticipated to be key drivers of growth in the face cream market.

The primary categories of face creams include moisturizers, healing creams, anti-aging solutions, and other variants. Anti-aging face creams fall under the category of cosmeceutical skincare products, primarily based on moisturizing properties, and are marketed with the promise of aiding individuals in achieving a more youthful appearance. These face creams cater to both female and male consumers across various age groups, including 0-1, 2-25, 26-40, 41-55, and above 55. They are designed for use on different skin types, such as oily, dry, neutral, sensitive, and other variations. Face creams are distributed through various channels, including multi-brand retail outlets, online platforms, supermarkets/hypermarkets, exclusive retail stores, and beauty parlors/salons.

The face creams market research report is one of a series of new reports that provides face creams market statistics, including global market size, regional shares, competitors with a face creams market share, detailed face creams market segments, market trends and opportunities, and any further data you may need to thrive in the face creams industry. This face cream market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The growth of e-commerce is expected to be a significant driver of the face cream market in the foreseeable future. E-commerce, which involves the buying and selling of products or services over the internet and the associated data and financial transactions, offers numerous advantages for face cream products. These benefits include diverse product displays, comprehensive product information, convenient mobile shopping, and secure online transactions. For example, in August 2023, data from the United States Census Bureau, a US government agency, revealed that e-commerce sales in the second quarter of 2023 increased by 7.5% compared to the same period in 2022, while overall retail sales saw a growth of 0.6%. This data underscores the growing influence of e-commerce in the face cream market.

Stringent regulations imposed by government agencies regarding the use of specific ingredients in cosmetics are anticipated to pose a significant challenge to the market. These regulations are in place to address the potential toxicity of certain ingredients, which can lead to various skin-related health issues. Regulatory bodies such as the EU Cosmetics Regulations and the US Food and Drug Administration (FDA) maintain lists of substances that are either completely prohibited or allowed only under specific conditions in cosmetics. Some of the prohibited substances include bithionol, chloroform, mercury compounds, methylene chloride, vinyl chloride, and chlorofluorocarbon propellants. Compliance with these regulations and restrictions on harmful ingredients represents a considerable hurdle for the cosmetics industry.

Prominent companies operating in the face cream market are placing a strong emphasis on the development of innovative products, including specialized offerings such as face creams and eye creams, to maintain their market positioning. Face creams and eye creams are skincare products meticulously formulated to cater to the specific needs of facial skin, focusing on the overall face as well as the delicate skin surrounding the eyes.

For instance, in October 2023, Sanitas, a Spain-based insurance company, introduced its Collagen + Elastin Face Cream and Collagen + Elastin Eye Cream. These products are meticulously crafted to enhance skin elasticity and reduce the appearance of fine lines and wrinkles. They are designed as anti-aging solutions, supported by clinical evidence, that facilitate the removal of aged skin cells while providing ample hydration to the skin. This innovative approach in product development is aimed at meeting evolving consumer demands and maintaining a competitive edge in the market.

There is a growing demand for multi-benefit combinations in the market. These products offer a variety of features or functions in one, catering to consumers looking for efficiency and convenience. Examples include foundations with added anti-aging serums, nail polish formulated with UV protection, and products making anti-aging claims. This trend of multi-benefit solutions is expected to expand and encompass a wider range of product categories. For instance, we can anticipate the emergence of hair care products that offer anti-aging properties or fragrances, as well as lipsticks that provide both color and lip care. The market is evolving to meet the demand for versatile, all-in-one solutions that simplify consumers' beauty and skincare routines.

Major companies operating in the face creams market include Johnson & Johnson Services Inc., L'Oreal S.A., Procter & Gamble Co., The Estee Lauder Companies Inc., Unilever N.V., Alticor Inc., The Body Shop International Limited, Avon Products Inc., Oriflame Cosmetics AG, Shiseido Company Limited, Kao Corporation, Edgewell Personal Care Co., Coty Inc., Beiersdorf AG, Amorepacific Corporation, Chanel S.A., Clarins Group, Colgate-Palmolive Company, Dermalogica Inc., Elizabeth Arden Inc., Henkel AG & Co. KGaA, Kiehl, LVMH Moët Hennessy Louis Vuitton SE, Mary Kay Inc., Natura & Co., Neutrogena Corporation, Olay, Origins Natural Resources Inc., Revlon Inc., The Proactiv Company LLC, Vichy Laboratories

Asia-Pacific was the largest region in the face creams market in 2023. Western Europe was the second-largest region in the global face creams market. The regions covered in the face creams market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the face creams market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The face creams market consists of the sales of eye creams, night creams, neck creams, and oil, gel, and color-correcting moisturizers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.