Bangladesh Face Wash Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Bangladesh Face Wash Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Bangladesh Face Wash Market size is expected to grow from USD 2.20 million in 2023 to USD 3.80 million by 2028, at a CAGR of 11.60% during the forecast period (2023-2028).

Key Highlights

• The increasing consumer awareness about their looks and skin health is shifting their preferences towards more care products like face wash. As consumers were following the trend of work-from-home or stay-at-home, consumers were more focused on personal care products which boosted the demand for the face wash market in Bangladesh.
• The increase in awareness regarding the benefits of self-care among consumers has propelled the growth of face wash products in Bangladesh. The emerging trend of herbal beauty and clean-label beauty products is regarded as one of the crucial factors that boost the market growth for face wash products in the country.
• In addition, the increase in Internet penetration has also generated a positive impact to drive further the sale of face wash products by offering multiple benefits to consumers, such as heavy discounts, easy price comparisons, availability of more variety, and doorstep delivery. These factors cumulatively have led to an increased outspread of face wash products among consumers in the country.
• However, the increasing penetration of counterfeit products is anticipated to hamper Bangladesh's face wash products market growth.

Bangladesh Face Wash Market Trends

Demand for Organic Face Wash Products

• Since organic products are free of synthetic ingredients, they are more or less guaranteed not to cause adverse skin effects in the short term or the long term. Hence, the demand for organic face wash products is driven by the increasing awareness among people about natural benefits and the shift toward natural ingredient-made products.
• Additionally, rising Internet penetration and social media use among the rising young population of Bangladesh is boosting the awareness of organic products among them, due to which the demand for organic products is rising in the country, especially among the younger generation.
• Major players in the country are introducing new products in the market, having natural ingredients inculcated in the products. For instance, in August 2022, The Lotus Herbal Company launched Jojobawash Active Milli Capsules nourishing face wash which is natural. Vitamin E, avocado, and jojoba extract are some of the natural ingredients incorporated into this product.
• The company is currently focusing on the urban markets of Bangladesh, with a target to explore opportunities in rural areas as well, boosting market growth. International companies, such as Himalaya Global Holdings Limited, have high market penetration for face wash products, with the large availability of pack sizes and enhanced marketing strategy.

Face Wash Gel is the Leading Segment

• The gel-based face wash is in high demand, and a leading segment in Bangladesh face wash market. This is because it effectively removes acne-prone skin. Gel cleansers are the most effective choice because gel cleansers can cleanse deep into the skin.
• Additionally, the increasing number of urban residents facing skin issues due to rising pollution is increasing the demand for face wash gel in the country. There are gel face washes that can help unclog pores, preventing stubborn acne from developing without causing any further irritation to the skin.
• Additionally, the companies advertise the products about the functionality they are generally designed for, i.e., deep cleansing. They are effective at decongesting clogged pores, removing excess oil, and killing acne-causing bacteria, owing to their antiseptic and exfoliating properties, which propel the market growth in the country.
• These products are preferred the most among all types of face wash, as they work well for all skin types, boosting the overall market. A large consumer population is opting for gel-based face washing due to a growing awareness of the product. This trend tends to increase the market demand for face wash across the country.

Bangladesh Face Wash Industry Overview

Global players account for a significant market share in the Bangladesh face wash market. The prominent players in the market are L'Oreal, Himalaya, Unilever PLC, and Johnson & Johnson Services Inc, among others. The market leaders are constantly acquiring other brands to increase their product catalog and market penetration. Key players are also looking for market expansion in the country to increase their distribution network. Bangladesh's face wash market has several dominant players who have established themselves over the years.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support