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Global Face Cream Market 2019-2023 | Growing Adoption of Technology to Boost Growth | Technavio

April 19, 2019
The global face cream market will post a CAGR of more than 5% during the period 2019-2023 (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Apr 19, 2019--The global face cream market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.

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The global face cream market will post a CAGR of more than 5% during the period 2019-2023 (Graphic: Business Wire)

The prolonged use of face creams manufactured using synthetic materials can pose the risk of skin damage. With consumers becoming more aware of the harmful impact of synthetic materials in face cream, the demand for natural and organic face creams that contain little to no chemicals is increasing rapidly. As a result, several vendors are offering a range of face creams that contain natural ingredients such as antioxidants, sunflower, coconut, avocado, hyaluronic acid, aloe vera, carrot seed extracts, and clay. This shift toward natural and organic face creams is expected to boost market growth during the forecast period.

As per Technavio, the growing adoption of technology in face cream formulations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global face cream market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global face cream market: Growing adoption of technology in face cream formulation

To help customers make informed purchase decisions related to beauty care products, several vendors are incorporating deep learning and artificial intelligence (AI) technologies. Moreover, companies are significantly investing in R&D to utilize technology for beauty ingredient selection. The use of Al allows vendors to develop products specific to smaller and niche consumer segments. Thus, the incorporation of technology in face cream formulation will boost the growth of the global face cream market during the forecast period.

“The demand for specialized face creams that address specific skin concerns such as anti-aging, acne treatment, skin whitening, and blemish removal is increasing. Thus, vendors in the market offer solutions for specific skin types and textures. They are introducing specialized face creams as premium products mainly due to the growing willingness of consumers to spend on specialty beauty care products,” says a senior research analyst at Technavio.

Global face cream market: Segmentation analysis

This market research report segments the global face cream market by product (anti-aging cream; skin whitening, and sun protection cream; and moisturizer and anti-acne cream) and geographic regions (North America, Europe, APAC, South America, and MEA).

The anti-aging cream segment held the largest face cream market share in 2018. The rapid changes in lifestyles and environmental conditions are fastening the aging process for middle-aged consumers. This affects the wellness and physical appearance of these consumers, which is leading to growth in the demand for anti-aging products.

The North America region led the market in 2018 with a market share of more than 36%, followed by Europe, APAC, South America, and MEA respectively. The market growth in North America can be attributed to the high demand for natural and organic beauty products, and the presence of several established global players in the region.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190419005027/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY HEALTH FITNESS & NUTRITION NATURAL RESOURCES OTHER NATURAL RESOURCES RETAIL COSMETICS

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/19/2019 10:02 AM/DISC: 04/19/2019 10:02 AM

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