The Asia Pacific Face Balm Market would witness market growth of 9.1% CAGR during the forecast period (2022-2028).
The expanding spending power of the working-class population in emerging nations like China, India, is fueling an increase in demand for cosmetic products like face balm. The market for skincare has experienced a large revenue share from facial care products in recent years. As a result of manufacturers realizing the significance of these products among customers, they have shifted their focus to facial beauty products.
Manufacturers have started brand campaigns to promote their products on Facebook, Instagram, and YouTube, among other social media platforms. Important players have also teamed up with various celebrities and designated them as brand ambassadors of their products in an effort to attract more customers. The expansion of the face balm market is being driven by such initiatives from major players.
Additionally, a rise in social media users is expanding the face balm industry. The number of people using social media has increased dramatically as a result of the widespread use of the internet. As a result, the vast majority of the main businesses in the sector intend to market their products and services online. Social media marketing is one of the primary strategies employed by many organizations and industries to inform their target customers about their product offers.
The market is being pushed by an aging population that is on the rise, which has increased demand for anti-aging goods. Sales of anti-aging skin care products have increased dramatically in China and Japan as a result of growing aging populations. China has one of the world's fastest-growing elderly populations, according to the World Health Organization. By 2040, 28 percent of China's population is anticipated to be over 60 because of rising average lifespans and declining birthrates. The Asia Pacific region's cosmetics market is expected to develop as a result of the rising demand for face balms that promise to have anti-aging properties due to the region's aging population.
The China market dominated the Asia Pacific Face Balm Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $34,903.9 Thousands by 2028. The Japan market is estimated to grow a CAGR of 8.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 9.8% during (2022 - 2028).
Based on Application, the market is segmented into Residential, and Commercial. Based on End Use, the market is segmented into Women, and Men. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Face Balm Market is Projected to reach USD 334.5 Million by 2028, at a CAGR of 8.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Unilever PLC (REN Clean Skincare), L'Oreal Group (CeraVe), Weleda AG, Pangaea Holdings, Inc., Naturium, Pinch of Colour LLC, UpCircle Beauty, and W.S. Badger Company, Inc.
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