Pune 27, April 2023: The total global market for the “Face Balm Market” was valued at USD 198.72 Mn in 2022 and is expected to grow at a CAGR of 10.07 percent over the forecast period to reach USD 388.98 Mn by 2029. The report analyzed by Maximize Market Research, on the Face Balm market, covers an extensive regional analysis and competitive landscape.
Face Balm Market Scope and Research Methodology
The Face Balm market report involves the extensive usage of both primary and secondary data sources. The report includes various factors affecting the industry, such as the competitive landscape, market environment historical data, present trends in the market, upcoming technologies, and the market risks, opportunities, market barriers, and challenges for the Face Balm market. For the competitive analysis of the Face Balm market, major industry players are mentioned by region, along with their price, financial standing, product, product portfolio, technical developments, mergers and acquisitions, joint ventures, and strategic alliances.
The bottom-up approach was used to establish the market size and its estimation by various segments. Distribution Channel, Application and End-Use are the segments used to analyze Face Balm to determine the favorable and unfavorable aspects that affect market growth. The report provides information on the emerging regions that are expected to be major markets for wireless services.
SWOT analysis was conducted to provide the strengths and weaknesses of the Face Balm Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Face Balm Market.
Face Balm Market Dynamics
The increase in fast food consumption causes many skin issues including rashes, dark under-eye bags, and wrinkles and this resulted in to increase in the use of the face balm. The growing awareness of personal cleanliness and grooming and the rising income levels of the population helps to fuel the Face Balm Market demand.
The market is driven by the increasing spending by the key players, research and development of the face balm industry, advertising and promotions of the face balm, high expenditure on the personal care products, rising knowledge about the skincare products constituent, rising sales of the waterless cosmetics, new trends for the packaging and appealing marketing techniques. The market is restrained by the increasing awareness about the harmful effects of chemical-based cosmetics.
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Face Balm Market Regional Insights
In 2022, Asia Pacific held the Face Balm Market accounting with the largest share and is expected to grow at a significant CAGR throughout the forecast period. The regional market is driven by the growing population, rising disposable income, increasing demand for beauty products developed infrastructure and the presence of a wide range of cosmetics product categories for skin care, moisturizers and sun protection.
North America is expected to grow at a CAGR of 8.5 percent for the Face Balm Market during the forecast period. The changing lifestyles, increasing preference for the healthier cosmetics solution among the consumer, rising disposable income, increase in the number of social media users are the influencing factors for the regional market growth.
Face Balm Market Segmentation
By Distribution Channel
By Application
By End-Use
Face Balm Market Key Players Include:
Table of Content for Global Face Balm Market:
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Key Offerings:
Key questions answered in the Face Balm Market are:
Maximize Market Research is leading Consumer Goods & Services and research firm, has also published the following reports:
Skin Care Product Market – The market size is expected to reach USD 208.47 Bn by 2029 at a CAGR of 5.62 percent during the forecast period. The market is driven by rapid urbanization and rising disposable income and increasing sales of natural and organic personal care products.
Functional Cosmetics Market – The market size is expected to reach USD 4.76 Bn by 2029 at a CAGR of 5.1 percent during the forecast period. The market is driven by the growing usage of natural functional elements by cosmetic items makers and increasing demand the multifunctional ingredients.
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