LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global face oils market is expected to grow at a CAGR of almost 6% during the forecast period, 2016-2020.
This research report titled ‘Global Face Oils Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The growing preference for online retail format will act as a primary driving force in market growth over the coming years. Factors such as increasing internet penetration, growing use of smartphones, and changing buying patterns of consumers have propelled such inclinations towards online retail. With the massive growth in the B2C e-commerce market across the globe, manufacturers are extending their online presence in several beauty segments. Also, customers opt for this distribution channel as it is convenient, time-saving, and offers product reviews and feedbacks. Some of the key pure-play e-retailers that offer face oils include Amazon, Alibaba, JD.com, and Rakuten.
Brijesh Kumar Choubey, an industry expert at Technavio for research on cosmetics and toiletry, says, “Vendors in the market are shifting towards the use of social media tools, such as Facebook, Twitter, Instagram, and YouTube, to increase awareness and promote their products. The increasing consumer engagement in social networking and blogs have prompted players to come out with some successful social media campaigns for several facial care products. For instance, P&G’s ‘Your Best Beautiful’ for Olay, L’Oréal’s ‘Rock Your Style’ for Garnier and Shiseido’s ‘Beauty vs. the World’ for SHISEIDO are some of the most effective marketing campaigns.”
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Based on product category, the report categorizes the global face oils market into the following segments:
- Anti-aging beauty oils
- Facial cleansing oils
- Face moisturizing oils
- Pre-shave oils
Global face oils market by product category 2015 (%)
| Anti-aging beauty oils | 38.01% |
| Facial cleansing oils | 25.13% |
| Face moisturizing oils | 22.34% |
| Pre-shave oils | 14.52% |
Source: Technavio
Global anti-aging beauty oils market
The anti-aging beauty oils segment is the fastest-growing category among the face oil products and is predominantly driven by the increasing demand among the aging population across the globe. The population group of around 60 years and above is one of the key customer segments for anti-aging oils. Anti-aging beauty oil products provide benefits like enriching the renewal of the skin’s outer layer. Some of the popular anti-aging beauty oils brands include P&G’s SK-II Facial Treatment Cleansing Oil, Estée Lauder’s Resilience Lift Restorative Radiance Oil, and LVMH’s Guerlain Abeille Royale Face Treatment Oil. Vendors in this product segment are coming up with several strategic initiatives to launch new product lines of face oils with anti-aging benefits to cater to the growing requirements from consumers. One of the latest developments in this segment is the advent of anti-aging beauty oil products made with natural and organic ingredients such as argan oil, marula oil, and safflower oil enriched with vitamin E. Some such natural anti-aging beauty oils are ProGenius Omega Treatment Rescue Oil from NUDE Skincare and The Body Shop Oils of Life Intensely Revitalising Facial Oil from L’Oréal.
Global facial cleansing oils market
The introduction of new products and the growing application of facial cleansing oils in salons and spas are anticipated to drive considerable adoption of cleansing oils over the next four years. Recently, ULTA Beauty has launched hydrating cleansing oil, which specializes in removing impurities on the skin. Manufacturers in the market are also launching several facial cleansing oils with additional properties such as sunscreens with SPF. For instance, Shiseido’s Ultimate Cleansing Oil, is made using a purifying formula that eliminates long-wearing foundation, is water-resistant, and has high-SPF sunscreens. With the growing inclination towards facial cleansing oils with natural ingredients, the segment will register a CAGR of more than 3% by 2020. The French manufacturer, L'Occitane's Shea Cleansing Oil is manufactured using shea butter and sunflower seed oil and has gained massive popularity among consumers.
Global face moisturizing oils market
Some of the popular face moisturizing oils available in the market are Estée Lauder Nutritious Radiant Vitality Essence Oil and CLINIQUE Take the Day Off Cleansing Oil from Estée Lauder. Manufacturers in the market are coming up with face moisturizing oils that are effective for multi-skin problems like dark spots, dryness, dullness, and uneven skin tone and texture. CLINIQUE Turnaround Revitalizing Treatment Oil from Estée Lauder and L'Occitane Immortelle Divine Youth Oil from L'Occitane are some of the most popular multi-purpose face moisturizing oils.
“Though the face oil moisturizers provide moisture and refreshment to reduce the extra dryness of the face, the relative high price of these products have slowed their adoption rate in the market. However, with the growing demand for natural face moisturizing oils, this segment will also witness significant growth over the predicted period. Some of the natural face moisturizing oils are Vitamin E Facial Oil and Tea Tree Oil by The Body Shop from L’Oréal. This Vitamin E Facial Oil offers an aromatic, pre-moisturizer treatment for the skin to enhance moisturization,” says Brijesh.
Global pre-shave oils market
The global pre-shave oils market is expected to grow at a steady pace during the forecast period due to the growing demand among men for shaving oils in the developed markets such as the UK, the US, Australia, and Canada. Vendors in the market are promoting their products to drive sales coupled with new product launches. For instance, in October 2015, Dreadnought, a UK based manufacturer specialized into men's grooming, introduced new portfolio of barbershop quality beard oils such as Dreadnought Classic Blend Beard Oil and Dreadnought Cuban Blend Beard Oil. This segment is the second-fastest growing category among face oil products. Some of the popular pre-shave oils are L'Occitane’s Cade Shaving Oil and L’Oreal’s Viktor & Rolf Spicebomb Nourishing Pre-shave Oil.
Some of the premium beauty manufacturers are launching natural pre-shave oils through their flagship brands such as LVMH under its flagship brand The Art of Shaving include Pre-Shave Oil – Sandalwood and Pre-Shave Oil – Lavender.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Beiersdorf
- Estée Lauder
- L'Oréal
- P&G
- Shiseido
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