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

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

The Face Mask Market size is expected to grow from USD 8.41 billion in 2023 to USD 12.30 billion by 2028, at a CAGR of 7.91% during the forecast period (2023-2028).

Key Highlights

• Consumers have been growing interested in facial skincare and more often follow the procedure of full-home skin care. The significance of the Internet also increased considerably, not only as a source of knowledge in the field of cosmetology but also as a thriving market selling cosmetic products, including face masks.
• The key players in the market have also been investing in manufacturing natural organic products in this segment. Applying natural ingredients, such as extracting the active ingredients of plants and applying them in the form of cream, clay, peel-off, warm-oil, and sheet mask, has made face masks more popular amongst the millennials, as these consumers seek more natural products rather the products with more chemicals.
• Increasing pollution and busy lifestyle have driven the adoption of a variety of skincare products across the globe, especially facial masks. Rising demand for organic and natural skincare and cosmetic products that offer multiple benefits, such as moisturizing, anti-aging, and treatment of acne/blemishes, is expected to offer good scope for the market growth of facial masks.
• The growing adoption of skin care products by men is another major factor driving the growth of the global face mask market. The rising number of retail chains in developing countries and the availability of several types of skin masks, coupled with the development of e-commerce, is resulting in the easy availability of face masks, another key factor fueling the growth of the global market.

Face Mask Market Trends

Rising Consumer Spending on Skin and Facial Care Products

• With the rising innovation and launch of newer personal care products in the market studied, there has been a notable rise in the spending of consumers in the skincare and facial care segment of the market studied, which ultimately drives the demand for face masks and sheets across the world.
• In context with the face mask market, Koreans are among the biggest drivers of innovation in the beauty and skincare industry. Sheet masks were one of the biggest success stories of K-beauty. Thus, face sheet masks are recently changing the beauty industry and gaining popularity by seeing various celebrities utilizing and endorsing sheet masks infused in serums and containing active ingredients.
• Consumers also believe that masking helps all other skincare products work more efficiently. If one wants day lotions, serums, and night-time products to be absorbed by the skin quicker and deeper, then a face mask is necessary. By masking regularly, one also can ensure that toning, hydrating, and protecting products will all perform better.
• Also, skincare products are becoming more affordable and accessible to consumers across the globe due to the growing number of domestic and international skincare brands available in the market. This includes high-end and affordable brands catering to a wide range of consumers. Thus, the perceived benefits of face masks and sheets and improved consumer spending for facial and skincare products drive the market study. Facebook and Instagram significantly promote skincare products, with many influencers and celebrities endorsing and reviewing various skincare brands and products.
• Leading brands such as L'Oréal, Unilever, and Estée Lauder, among others, have been turning to Facebook, Instagram, and YouTube to promote product launches and engage their consumers with tutorials and promotional campaigns. ​These factors have helped drive the market's growth over the recent past.

Asia-Pacific Dominates the Market

• Asia-Pacific dominated the global market due to high product consumption in South Korea, India, Australia, and China. In recent years, continuous product innovation has been witnessed due to the increasing demand for skin care products in these countries. The consumers in this region follow intensive skincare routines in which the application of the face mask is an important step as it hydrates the skin, making it soft and glowing.
• Peel-off, cream, and clay masks are expected to continue to be top-selling products due to their properties, such as temporary skin tightening, stimulation of blood supply, elimination of impurities and dirt, moisturizing, and softening the skin. Moreover, the intensive summer season and rising pollution in the region also boost the market demand for face masks.
• In addition, Korean skincare products, including face masks, have been growing globally, owing to the growing traction of ‘K-beauty’ trends. This factor is projected to provide the players in the market with lucrative growth opportunities, thus, driving the market's growth in this region over the forecast period.

Face Mask Industry Overview

The face mask market is fragmented with the presence of numerous players. The key players use growth strategies, including mergers and acquisitions, expansion, new product developments, and partnerships, to fuel market growth. There are several prominent players in this industry, such as Procter & Gamble Company, Estée Lauder Inc., and L’Oreal SA. It is crucial for players to continuously innovate, operate and grow in the market due to the rapidly changing consumer demands and preferences. Also, companies are using digital and social media advertisements to make consumers aware of their new product launches.

Additional Benefits:

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