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

LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Research?src=hash" target="_blank"gt;#Researchlt;/agt;–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.


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
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Technavio’s sample reports are free of charge and contain multiple
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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 [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

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