Global Face Balm Market Size study & Forecast, by Application (Commercial, Household), by End Use (Men, Women), by Distribution Channel (Online, Offline) and Regional Analysis, 2023-2030

Global Face Balm Market Size study & Forecast, by Application (Commercial, Household), by End Use (Men, Women), by Distribution Channel (Online, Offline) and Regional Analysis, 2023-2030

Global Face Balm Market is valued at approximately USD 215.23 million in 2022 and is anticipated to grow with a CAGR of more than 9.70% over the forecast period 2023-2030. Face balm is a type of skincare product that is specifically formulated to provide nourishment, hydration, and protection to the skin on the face. It is typically a thick, creamy, or waxy substance that is designed to be applied topically. Moreover, rising household disposable income and rising use of skin care products are anticipated as the growth drivers of this market. Furthermore, the rising cosmetic industry and expansion of the e-commerce market elevate the market during the forecasted period 2023-2030.

According to Statista in 2021, the United States recorded the highest gross adjusted per capita household disposable income among Organization for Economic Co-operation and Development (OECD) countries, reaching approximately USD 62,335. Luxembourg ranked second with around USD 51,465, closely followed by Australia in third place. According to Statista in 2023, the skin care segment of the beauty & personal care market is expected to experience continuous revenue growth from 2023 to 2027, with a total increase of USD 25.9 billion which is 16.61 percent by 2027, the estimated revenue is expected to reach approximately USD 181,534.92 million. Thus, the rapidly growing adaptation of cosmetic or skin care products among consumers and attracting customers through various influencer marketing, significantly contribute to the rise of the Global Face Balm Market. However, rapidly changing consumer preferences and increasing potential skin allergies may hamper the growth of this market during the forecasted year 2023-2030.

The key regions considered for the Global Face Balm Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific region dominates the face balm market due to a large consumer base, the influence of K-beauty and J-beauty trends, urbanization, and the expansion of e-commerce. These factors contribute to the region's strong market presence and highlight the demand for face balms in this dynamic and diverse market. Asia Pacific region is the fastest-growing region in the global face balm market due to expanding middle-class population, rapid urbanization, changing consumer preferences, the influence of social media and beauty trends. These factors have propelled the region's growth, presenting significant opportunities for companies operating in the face balm market.

Major market player included in this report are:
Weleda AG
UpCircle Beauty
Nuxe Group
Naturium Solutions LLP
W.S. Badger Co. Inc.
Pangaea Holdings Inc.
Pinch of Colour LLC
Silicon2 Co., Ltd.
Salty Family Group Co., Ltd.
Franline Ltd

Recent Developments in the Market:
In June 2020, Unilever announced a significant change for their skincare products. They are no longer using words such as fair, fairness, white, whitening, and light in the packaging and marketing materials. This shift reflects Unilever's commitment to embracing a more inclusive vision of beauty. As part of this transformation, the Fair & Lovely brand name is also being modified in the upcoming months.

In September 2022, L'Oreal might be sued for making collagen promises that reduce wrinkles. The products are unable to smooth wrinkles and restore skin's cushion as the labels claim because topically administered collagen is too big to be absorbed by the epidermis, the top layer of skin.

Global Face Balm Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Application, End Use, Distribution Channel, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Application:
Commercial
Household

By End Use:
Men
Women

By Distribution Channel:
Online
Offline

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies
Weleda AG
UpCircle Beauty
Nuxe Group
Naturium Solutions LLP
W.S. Badger Co. Inc.
Pangaea Holdings Inc.
Pinch of Colour LLC
Silicon2 Co., Ltd.
Salty Family Group Co., Ltd.
Franline Ltd

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