New York, USA, May 23, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global charcoal facewash market is envisioned to garner $5,430.6 million in revenue and grow at a CAGR of 5.3% over the estimated period from 2022 to 2031.
As per our analysts, the increasing consumer awareness about the benefits of using charcoal-based skincare products is expected to bolster the growth of the charcoal facewash market throughout the estimated timeframe. Besides, the growing popularity of charcoal facewash in the cosmetics industry as it is made with natural ingredients is predicted to foster the growth of the market during the analysis period. Moreover, the emergence of social media and e-commerce platforms to reach a larger audience and attract new customers is expected to create wide growth opportunities for the charcoal facewash market over the forecast period. However, the ability of substitute facewash may hinder the growth of the market throughout the analysis period.
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Segments of the Charcoal Facewash Market
The report has divided the market into segments based on application, gender, distribution channel, and region.
Application: Cleansing Sub-Segment to be Most Productive
The cleansing sub-segment held the largest market share in 2021. This is mainly because one of the most essential features of charcoal facewash is its ability to cleanse. Moreover, the growing effectiveness of charcoal facewash in detoxifying the skin is expected to fortify the growth of the charcoal facewash market’s sub-segment over the estimated period.
Gender: Male Sub-Segment to be Most Profitable
The male sub-segment held the dominant market share in 2021. The increasing demand for products catering skin care needs of men and enhancing their overall look and confidence is predicted to uplift the growth of the market sub-segment during the analysis timeframe.
Distribution Channel: Hypermarket/Supermarket Sub-Segment to be Most Lucrative
The hypermarket/supermarket sub-segment generated the highest share in the charcoal facewash market in 2021. This is mainly because hypermarkets and supermarkets provide a hassle-free shopping experience for customers. In addition, the self-selection model of hypermarkets/supermarkets allows customers to browse through the products and make their own decisions which are expected to fuel the growth of the market sub-segment in the coming period.
Asia-Pacific Region Held the Maximum Share of the Market
The Asia-Pacific region of the charcoal facewash market accounted for the highest market share in 2021. The growing awareness about personal hygiene and skin care and the rising popularity of natural and organic skincare products among the people of this region are expected to drive the regional growth of the market over the estimated period.
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Covid-19 Impact on the Charcoal Facewash Market
The outbreak of the Covid-19 pandemic has brought several uncertainties across various industries; however, it has had a positive impact on the charcoal facewash market. This is mainly due to the increased public awareness about the importance of personal hygiene and cleanliness among individuals during the pandemic. Moreover, due to strict lockdowns, people stuck at home started trying new cosmetics products and improving their skincare regimes. This has increased the demand for facewash and other personal care products. All these factors have inclined the market growth over the crisis.
Key Players of the Charcoal Facewash Market
The major players of the market include
- Pond’s
- Biocrown Biotechnology Co. Limited
- Biore
- BuyWOW
- Nature’s Organic
- L’Oréal
- Oxyglow Cosmetics
- Clinique
- Olay
- Guangzhou Zuofun Cosmetics Co. Limited.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaboration, and product development to gain a leading position in the global industry.
For instance, in November 2022, Bombay Shaving Company, a premium personal care and grooming solutions brand launched a campaign for its new product, namely, “Activated Bamboo Charcoal Face Wash”. The company aimed to deliver deep cleansing and detoxifying attributes of the product by raising the issue of toxic behavior.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, SWOT analysis, product portfolio, and the latest strategic development.
More about Charcoal Facewash Market:
- Charcoal Facewash: A Trend That’s Here to Stay
- Increasing Awareness among People about the Benefits of Charcoal-Based Skincare Products Expected to Propel the Growth of the Global Charcoal Facewash Market by 2031
