Global Face Compact Market Is Expected to Reach $2.2 Billion by 2031: Allied Market Research
Allied Market Research
Updated 5 min read
Allied Market Research
The global face compact market is experiencing growth due to factors including a rise in numerous varieties of face compact, and the increase in societal expectations and social media followers. By end-user, the women segment had the highest share of the market in 2021. By region, the Asia-Pacific region is expected to see the fastest growth in the market, with a high CAGR projected by 2031.
Portland,OR, March 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global face compact market was estimated at $1.3 billion in 2021 and is expected to hit $2.2 billion by 2031, registering a CAGR of 5.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Skin Type, End User, Distribution Channel, and Region
Drivers
Rise in numerous varieties of face compact
The increase in societal expectations and social media followers
Opportunities
High absorbent qualities of face compacts
Manufacturing goods that are reasonably priced
Restraints
Excess use of face powder result in harming the skin and make breakouts and clogged pores
Covid-19 Scenario:
The face compact industry experienced a downturn due to the COVID-19 pandemic's impact across the globe.
The lockdown imposed by the government led to disruptions in the production and distribution, affecting the sales of face compact products.
However, as the world is gradually returning to normalcy, the face compact production is rising. Hence, the market is expected to gain traction due to the growing disposable income, a high working-age population, and a rise in inclination of consumers toward having an aesthetic appearance.
The report offers a detailed segmentation of the global face compact market based on skin type, end user, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
By skin type, the combination skin segment held the largest share in 2021, garnering more than one-fourth of the global face compact market revenue and is projected to maintain its dominance by 2031. The same segment would also cite the fastest CAGR of 6.3% throughout the forecast period. The dry skin, oily skin, sensitive skin, and others segments are also analyzed in the report.
By end user, the women segment accounted for the highest share in 2021, generating more than four-fifths of the global face compact market revenue and is projected to rule the roost by 2031. However, the men segment would portray the fastest CAGR of 5.9% during the forecast period.
By distribution channel, the indirect sales segment held the major share in 2021, contributing to more than three-fifths of the global face compact market revenue and is projected to maintain the lion’s share through 2031. Simultaneously, the same segment would also display the fastest CAGR of 5.8% throughout the forecast period. The direct sales segment is also discussed in the report.
By region, North America held the major share in 2021, garnering nearly one-third of the global face compact market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 6.2% throughout the forecast period. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global face compact market report include HB USA Holdings, Inc., Laura Mercier Cosmetics, Hindustan Unilever Limited, Baccarose, The Procter & Gamble Company, The Estee Lauder Companies Inc., Kosas Cosmetics, LLC, NARS Cosmetics, LOREAL S. A., Coty Inc., Kendo Holdings, Inc., Vellvette Lifestyle Private Limited, ColorBar Cosmetics Pvt. Ltd., and Chanel, Revlon, Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players. Similar Reports We Have on Consumer Goods Industry:
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