New York, USA, April 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global charcoal facewash market is anticipated to garner a revenue of $4,607.2 million by 2028 and grow at a stable CAGR of 5.1% over the forecast period from 2021-2028. The detailed report provides a concise outlook of the charcoal facewash market’s present scenario including chief aspects of the market such as growth elements, challenges, hindrances, and several opportunities during the estimated period of 2021-2028. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Market
Drivers: The ability of charcoal facewashes to address multiple skincare concerns like dullness, oily skin, clogged pores, dirt, and stickiness and its capability to remove impurities from the skin are the primary factors estimated to drive the global charcoal facewash market during the forecast years. In addition, its skin brightening and toxin absorbing properties are also expected to boost the demand for charcoal facewashes among individuals, thus further boosting the market growth by 2028.
Opportunities: Increasing growth of e-commerce platforms and social media marketing are the main factors predicted to offer abundant growth opportunities for the global charcoal facewash market during the 2021-2028 forecast timeframe. Moreover, celebrity endorsements with key charcoal facewash manufacturing brands is yet another factor to attract several people and offer great market growth opportunities by 2028.
Restraints: Availability of substitute facewash types is the main factor projected to impede the growth of the global charcoal facewash market.
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Covid-19 Impact on the Market
The onset of the Covid-19 catastrophe had an adverse impact on most industries and businesses. However, the global charcoal facewash market witnessed a significant growth rate due to growing demand for personal and skincare products. Moreover, to contain the spread of the corona virus, several personal care and beauty brands doubled up their manufacturing for soaps, sanitizers, facewashes, and other cleaning products. Additionally, the fear of getting affected by the virus forced many people to switch to charcoal facewashes that effectively remove dirt, germs, and toxins and address multiple skincare concerns. Furthermore, several initiatives by renowned beauty brands to curb the virus spread also helped in boosting the growth of the global charcoal facewash market amid the pandemic stress.
Segments of the Market
The report has fragmented the charcoal facewash market into multiple segments based on application, gender, distribution channel, and regional analysis.
Application: Cleansing Sub-segment to be Highly Dominant
By application, the cleansing sub-segment of the charcoal facewash market is expected to hold a dominant market share and garner a revenue of $1,776.5 million by 2028. This growth is attributed to the ability of charcoal facewashes to clean dirt and clogged skin pores effectively. Additionally, the deep cleansing and detoxifying properties of these facewashes also leaves the skin clean and fresh. These factors are estimated to bolster the market growth during the analysis period.
Gender: Female Sub-segment to be Most Beneficial
By gender, the female sub-segment of the charcoal facewash market is predicted to have a significant market share and generate a revenue of $2,447.7 million due to the growing adoption of personal care and beauty products by the female population. Since females are highly beauty-conscious, several brands have enhanced their product portfolio to offer better and suitable charcoal facewashes to their customers. Moreover, the rising population of working women and their growing self-consciousness and skincare concerns are also some factors anticipated to uplift the market growth by 2028.
Distribution Channel: Hypermarket/Supermarket Sub-segment to be Most Lucrative
By distribution channel, the hypermarket/supermarket sub-segment is expected to surpass $1,680.6 million during the analysis years since stores offer a freedom of selection to the buyers. Additionally, supermarkets are self-service and one-stop shopping destinations that offer goods at lower prices that attract many customers. Moreover, the attractive packaging and high availability of parking space are some other factors estimated to augment the market growth by 2028.
Region: Market in the Asia-Pacific Region to Witness Better Growth Opportunities
By region, the charcoal facewash market in the Asia-Pacific region is projected to witness a significant growth rate of 5.9% CAGR due to the growing population of working women, high disposable income, and rising skincare consciousness in the Asia-Pacific region. Furthermore, South Korea is one of the leading beauty and cosmetics markets in the world and has high production and export of skincare products. These factors are predicted to enhance the market growth in the Asia-Pacific region during the forecast timeframe.
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Significant Market Players
Some significant charcoal facewash market players are
- BuyWOW
- Bioré
- Clinique
- Biocrown Biotechnology Co., Ltd
- Oxyglow Cosmetics
- Pond’s
- L'Oréal S.A.
- Natures Organics
- Olay
- Guangzhou Zuofun Cosmetics Co. Limited.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth.
For example, in February 2022, Piramal Pharma Ltd., a renowned innovative healthcare solutions provider, announced the expansion of its Lacto Calamine skincare product range especially formulated for oily skin types. Some of the products include Facewash with Kaolin Clay, Sunscreen, Charcoal Peel Off Mask, and Oil Control Face Wipes.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
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