As indicated by the most recent study by Fact.MR, beauty sheet masks business is set to observe rapid development during the period of 2021-2031 with a CAGR of ~9%. Interest for these masks will observe effective recuperation in the period of 2021-2022, with a hopeful development viewpoint over the long haul.
Facial masks are utilized for various purposes dependent on skin type like forestalling irritation, skin inflammation and for sustenance.
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Primarily, beauty facial masks were targeted to only women but with gradual beauty consciousness coupled with rise in influencers on various social media platforms, manufacturers began targeting men as well.
Diversification of business to various demographics is anticipated to strengthen the business of beauty sheet masks over forecast period
These beauty products are ordinarily face-formed sheets, which have pattern spaces for the eyes, nose, and mouth, which are then covered and doused with concentrated serums. The creation and fixings in these serums change, in light of the sort of advantage each face cover declares to offer.
Moreover, sheet masks packaging is exclusively pressed in sachets or thin boxes collapsed perfectly and advantageously to be taken out for one-time use. This simple packaging model by cosmetic manufacturers is set to enhance the consumption-oriented margins of their beauty mask business.
Sheet masks, like most other beauty advancements, have their starting point in South Korea, known for their devotion to development in the skincare and corrective industry.
For the last decade or thereabouts, sheet masks have developed from an advantageous skincare instrument to a sheet veil are one of the vital forward leaps of the South Korean beauty industry, who were constantly known for their affinity for face masks that would cover a wide umbrella of skincare benefits.
Initial beauty masks momentum generated in South Korea, gradually crept to South Asia & Oceania countries especially India, Vietnam, Bangladesh, and others to name a few.
Furthermore, simple to use beauty masks have diversified gradually from salons to the mass consumer base, which has not only provided a thrust to the business but also has fueled the revenue growth on the back of positive network externalities.
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Moreover, extensive investment in R&D by prominent cosmetic titans overutilization of bio-based active ingredients is anticipated to drive the business growth towards an optimistic growth scenario by 2031.
Flooding up of COVID-19 cases has necessitated the policy makers to actively adopt complete and partial lockdowns across the region in Q2 and Q3 of 2020. In the beginning of Q2, massive speculative demand was observed in retail and departmental stores for beauty products.
This has provided enough momentum covering anticipated losses of cosmetic titans over Q3. Re-opening of markets by the beginning of Q4, demand turned upside down owing to the weak consumer basket orientation leaning towards savings over purchase of beauty products.
Shrink in travelling business and extended work from home has paved a way for the lowered necessity for grooming and personal care products, thus cascading the effect to the beauty mask business.
Business growth is anticipated to reach pre-COVID levels by Q1 of FY2022 on the back of strong consumer behavior and work from office factors.
South Korea is one of the world’s leading beauty markets, presenting industry-driving advancements and widely adopted products with South Korea origin.
Korean beauty companies broke into the worldwide business, attributable to the enormous interest in K-beauty items by US and Europe consumer base. Koreans prefer locally made products as their product quality is at par compared to the products imported from US and Europe as these imports are expensive. This has not only helped growth of the regional players but also assisted to strengthen their market expansion.
Growing demand for these beauty products is primarily on the back of product pricing of premium as well as mass products and product marketing. This has created demand waves of K-beauty products across the globe especially in US and Europe.
Retail outlets such Walmart, Target, Costco to name a few are sourcing K-Beauty products owing to the extensive demand from the local customer base present in US and Canada.
The United States is the prominent market with huge customer base, spending hundreds of dollars over personal care and cosmetics every year. Over the past half-decade, demand for beauty facial masks business has strengthened at 7.5% CAGR and the regional cosmetic leaders such as Coty, Estee Lauder, L’Oréal, Avon and others to name a few has cashed in millions of dollars in profits with their marketing and channeling premium products with competitive price points and consumer targeting marketing.
With the leaders in the cosmetic business investing in development of bio based products and inclining towards strong consumer behavior regarding these products is anticipated to generate billions of dollars in absolute dollar opportunity over forecast period.
Individuals in Europe especially from France, Germany, Italy, Spain, the United Kingdom, and France tend to utilize beauty facial masks to keep their faces clean, hydrated, and nourished. By and large, individuals in these nations incline toward beauty masks with natural ingredients such as honey face masks, tea-based face masks, and papaya based face masks,
All in all, Europe is anticipated to remain a potential region to channel organic facial masks over the long-run forecast period.
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Some of the leading manufacturers and suppliers in the beauty masks business are:
The market is highly fragmented with product sales share distributed among numerous producers. Companies adhere to both organic and inorganic ways of increasing business which include product launches, the introduction of new ingredients, partnerships, acquisitions, and strengthening of regional and global distribution networks.
The main producers and providers in the business are zeroing in on building up a long-term partnership with the end-users, to avail the continuous business opportunity.
More importantly, new manufacturers entering the business are providing affordable beauty sheet masks, which cover the maximum skin benefits that a potential consumer looks for. This business has caught consumer’s attention and has grown in number within a short period.
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