Face Balm Market to Grow with a CAGR of 10.2% Globally through 2028
Rising awareness of skincare and increasing demand for
organic products are driving the Global Face Balm Market in the forecast period
2024-2028.
According to TechSci Research report, “Global Face
Balm Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Face Balm Market stood at USD 199.89 Million
in 2022 and is anticipated to grow with a CAGR of 10.2% in the forecast period,
2024-2028. The global face balm market is a dynamic and growing segment of the
skincare industry, driven by changing consumer preferences and an increasing
emphasis on self-care and beauty routines. Face balms are versatile skincare
products known for their moisturizing, soothing, and nourishing properties,
making them a sought-after solution for various skin concerns.
One of the primary drivers of the global face balm
market is the growing awareness among consumers about skincare. People are
becoming more informed about the importance of taking care of their skin to
maintain its health and youthful appearance. As a result, they are actively
seeking products that offer targeted solutions for their skin concerns, such as
dryness, redness, and signs of aging. Face balms, with their multipurpose
benefits, have gained popularity as an integral part of daily skincare routines.
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through xx Pages and an in-depth TOC on "Global Face
Balm Market”
Clean and natural beauty has emerged as a significant
trend in the skincare industry, and it is impacting the face balm market as
well. Consumers are increasingly focused on the ingredients in their skincare
products, seeking formulations that are free from harmful chemicals, parabens,
sulfates, and synthetic fragrances. Face balms made with natural ingredients
like botanical extracts, essential oils, and organic formulations are in high
demand. The clean beauty movement aligns with broader environmental concerns,
with consumers looking for products that are both skin-friendly and
eco-friendly.
Face balms are celebrated for their
multifunctionality, contributing to their popularity in the global market.
These products can serve as moisturizers, lip balms, cuticle treatments, and
even highlighters, making them a versatile addition to a consumer's beauty
arsenal. The convenience of a single product that addresses various skincare
needs appeals to busy lifestyles, encouraging consumers to simplify their
routines while still maintaining effective skincare.
Social media and beauty trends play a pivotal role in
shaping consumer choices in the global face balm market. Beauty influencers and
celebrities often showcase their skincare routines and favorite products on
platforms like Instagram, YouTube, and TikTok. This exposure can quickly drive
interest and demand for specific skincare products, including face balms.
Consumers are more inclined to try products recommended by influencers they
admire or products that align with popular beauty trends, contributing to the
growth of the market.
The COVID-19 pandemic has had a profound impact on
consumer behavior, including their skincare routines. With lockdowns and
restrictions in place, people spent more time at home and turned to self-care
and wellness as a means of coping with stress and uncertainty. The pandemic
heightened concerns about hygiene and overall health, leading individuals to
pay closer attention to their skin's condition. Face balms, with their soothing
and moisturizing properties, provided comfort and nourishment during a time when
self-care rituals were valued more than ever. This shift in consumer behavior
has had a lasting effect, with many individuals continuing to prioritize
skincare and face balms in their daily routines.
In conclusion, the global face balm market is
experiencing robust growth driven by increasing consumer awareness of skincare,
a preference for clean and natural beauty products, the multifunctionality of
face balms, the influence of social media and beauty trends, and the pandemic's
impact on self-care and wellness. As consumers continue to prioritize skincare
as a part of their daily routine, the face balm market is poised for continued
expansion, with opportunities for both established players and newcomers to
thrive in this dynamic industry.
The Global Face Balm Market is segmented into product
type, distribution channel, regional distribution, and company.
Based on product type the market is segmented into moisturizing
face balm, anti-aging face balm, others.
The global face balm market is witnessing a
substantial increase in the demand for anti-aging face balms. This surge is
driven by a growing aging population globally, leading to heightened interest
in maintaining youthful and healthy-looking skin. Additionally, consumers are
increasingly seeking non-invasive and non-surgical skincare solutions, opting
for anti-aging face balms that target signs of aging such as fine lines,
wrinkles, and loss of elasticity. As a result, skincare brands are focusing on
innovative formulations with age-defying ingredients to meet this rising demand
for anti-aging solutions in the market.
Based on distribution channel the market is segmented
into offline and online.
Based on region the market is segmented into five
regions, North America, Europe, Asia Pacific, Middle East & Africa, and
South America.
Major companies operating in Global Face Balm
Market are:
- Silicon2 Co., Ltd.
- Purity Cosmetics
- REN Clean Skincare
- Maycoop Co., Ltd.
- Pangaea Holdings Inc.
- W.S. Badger Company, Inc.
- UpCircle Beauty
- Franline Ltd
- Vilot LLC
- Pinch of Colour LLC
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“Incorporation of advanced ingredients in products is
a significant trend that is expected to have an impact on growth over the
forecasted period. Rising demand for organic products, rising awareness of
skincare, and multifunctionality and versatility of products will positively
impact the Global Face Balm Market. Due to the wide range of products available
to meet specific needs of, as well as the growing popularity of the online distribution
channel, the market is growing at impressive rate through projected period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Face Balm
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Product Type (Moisturizing Face Balm, Anti-aging Face Balm,
Others), By Distribution Channel (Offline, Online), By Region, By Competition,
2018-2028”, has evaluated the future growth potential of Global Face
Balm Market and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Face Balm Market.
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