Published Date: 21-Feb-2023
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According to a new report, published by KBV research, The Global Face Balm Market size is expected to reach $334.5 Million by 2028, rising at a market growth of 8.7% CAGR during the forecast period.
The Commercial segment is showcasing a CAGR of 9.1% during (2022 - 2028). As consumers become more aware of skin-related issues, they are turning to cosmetics to maintain healthy skin. Furthermore, consumers are able to spend more on grooming and cosmetic items due to the rise in disposable income in developing nations. As a result, the market is anticipated to benefit from the increased use of cosmetics items in salons.
The Women segment acquired maximum revenue share in the Global Face Balm Market by End Use in 2021 thereby, achieving a market value of $238.1 Million by 2028. This is because the number of women who are conscious about their looks is increasing, and as a result, the skincare market has grown steadily over time. Furthermore, face balm sales have expanded significantly due to various additional factors, such as a growth in the number of working women, increasing awareness of the benefits of facial care products, changes in lifestyle, and the need to maintain beauty for a long time.
The Online segment has shown the growth rate of 9.6% during (2022 - 2028). People's buying habits have changed substantially as a result of the internet distribution channel, which provides advantages like doorstep delivery, simple payment options, steep discounts, and the availability of a large variety of products on a single platform. Due to expanding internet usage and consumer preference for mobile shopping, major market participants are rapidly developing e-commerce websites in sizable lucrative regions.
The Asia Pacific market dominated the Global Face Balm Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $124.4 Million by 2028. The Europe market is exhibiting a CAGR of 8.1% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 8.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/face-balm-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By End Use
By Distribution Channel
Unique Offerings from KBV Research
North America Face Balm Market size & Opportunities 2022-2028
Europe Face Balm Market & Growth Forecast 2022-2028
Asia Pacific Face Balm Market Share & Industry Outlook to 2028