Global Face Oils Market 2016-2020
About Face Oils
Vendors are focusing on launching face oils with enhanced benefits and targeted at specific skin concerns over the coming years. We expect considerable growth in the uptake of face oils in developing countries, provided the formulation is metered to effectively address consumer apprehension about applying oil on face.
Technavio’s analysts forecast the global face oils market to grow at a CAGR of 5.66% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global face oils market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail and salon sales of face oil products to individual customers in the global market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Face Oils Market 2016-2020
Technavio recognizes the following companies as the key players in the global face oils market: Beiersdorf, Estée Lauder, L’Oréal, Procter & Gamble, and Shiseido.
Other Prominent Vendors in the market are: Amway, Avon Products, Burberry, Chanel, Chatters Canada, Clarins, Combe, Conair, Coty, Edgewell Personal Care, Henkel, Helen of Troy, Johnson & Johnson, Kao, LVMH, Marchesa, Markwins Beauty Products, Mary Kay, O Boticário, Revlon, Tom's of Maine, TONI&GUY, Unilever, and World Hair Cosmetics.
Commenting on the report, an analyst from Technavio’s team said: “Social media is a key trend among the key brands in the face oils market. In 2015, L'Oréal spent 25.5% of its media spending on digital and social media, compared to 15.7% digital media spending in 2014. The global fast-moving consumer goods (FMCG) companies had more than $137.5 billion digital advertising expenditure by the end of 2015. Approximately 25% of Internet users aged 16-24 years discovered new brands through celebrity endorsements. For the age group 25-34 years, it was 22%, and for the 35-44 age group, it was 14%.”
According to the report, one of the key drivers for market growth will be demand for products specific to different skin types and age group. Skin type, tone, and structure vary from one person to another. Thus different concerns are observed for different types of skin. Manufacturers of face oils broadly the skin care products offer products targeted to different skin types such as combination, dry, normal, oily, and sensitive skins.
Further, the report states that effects of synthetic ingredients will be a challenge for the market. Side effects of face oils significantly impact the adoption rates of these products among consumers. To that end, a relative inclination towards certified facial oils, such as USDA-certified facial oils prevails, as with a certified facial oil the possibility of synthetic chemicals is mitigated. Synthetic chemicals present in cosmetics product at large may cause irritation, acne flares, and other problems. Such adverse events lead to product recalls, which will impact the market growth. For instance, in December, Josie Maran Argan Oil was recalled due to preservative issues and Enterobacter gergoviae contamination. Some of the harmful ingredients in cosmetic product may contain include parabens, phthalates, benzoyl peroxide, triclosan, hydroquinone, petroleum, methylisothiazolinone, and oxybenzone.
Beiersdorf, Estée Lauder, L’Oréal, Procter & Gamble, Shiseido, Amway, Avon Products, Burberry, Chanel, Chatters Canada, Clarins, Combe, Conair, Coty, Edgewell Personal Care, Henkel, Helen of Troy, Johnson & Johnson, Kao, LVMH, Marchesa, Markwins Beauty Products, Mary Kay, O Boticário, Revlon, Tom's of Maine, TONI&GUY, Unilever, and World Hair Cosmetics.
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