Facial Essence MarketSize and Trends

Facial essence are lightweight, hydrating liquid which offers moisture content to skin to keep it healthy and fresh. Growing personal care industry across the globe is expected to drive growth of the facial essence market over the forecast period. For instance, according to the International Trade Administration (ITA), in 2014, per capita expenditure on cosmetic products was US$ 139 in the U.S., US$ 171 in South Korea, and US$ 174 in Japan. Thus, high per capita spending on skin care and cosmetic products is expected to boost growth of the global facial essence market over the forecast period.

Market Dynamics:-

Increasing disposable income and high per capita spending on makeup and cosmetic products is expected to drive growth of the global facial essence market over the forecast period. For instance, according to the International Trade Administration (ITA), in 2014, per capita spending on cosmetic products was US$ 139 in the U.S.

Market Outlook:-

Among regions, Asia Pacific held a significant market share in the global facial essence market in 2018. Rising preference for organic products over chemical-based products, rising disposable income, and significant growth of personal care industry in the region are some of the major drivers for the market growth. For instance, according to the International Trade Administration (ITA), Japan stands as one of the largest market for personal care products in the world. In 2015, the cosmetic market in Japan was valued at US$ 13,208 and according to the same source, in 2014, per capita annual expenditure on personal care and cosmetics was US$ 174.

Amongst end user, women segment held dominant position in the global facial essence market in 2018, owing to increasing working women population and rising disposable income of women are the major factors that are expected to drive growth of the segment in the global facial essence market. For instance, according to the United States Department of Labor, total annual median earnings of women in 2014 was US$ 40,168, which increased to reach US$ 41,554 in 2016 in the U.S. According to the same source, number of women in workforce was 72,722 thousand in 2013, which increased to reach 74,432 thousands in 2016 in the U.S.

Amongst distribution channels, online channel segment held a significant market share in the global facial essence market in 2018. Online channel offers customer an opportunity to order anything at a customer’s doorstep. Furthermore, online segment offers options such as free shipping, home delivery, on-time delivery, easy exchange and return, and discounts.