Portland,OR, March 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global face compact market was estimated at $1.3 billion in 2021 and is expected to hit $2.2 billion by 2031, registering a CAGR of 5.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.3 Billion |
| Market Size in 2031 | $2.2 Billion |
| CAGR | 5.7% |
| No. of Pages in Report | 471 |
| Segments Covered | Skin Type, End User, Distribution Channel, and Region |
| Drivers | Rise in numerous varieties of face compact |
| The increase in societal expectations and social media followers | |
| Opportunities | High absorbent qualities of face compacts |
| Manufacturing goods that are reasonably priced | |
| Restraints | Excess use of face powder result in harming the skin and make breakouts and clogged pores |
Covid-19 Scenario:
- The face compact industry experienced a downturn due to the COVID-19 pandemic's impact across the globe.
- The lockdown imposed by the government led to disruptions in the production and distribution, affecting the sales of face compact products.
- However, as the world is gradually returning to normalcy, the face compact production is rising. Hence, the market is expected to gain traction due to the growing disposable income, a high working-age population, and a rise in inclination of consumers toward having an aesthetic appearance.
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The report offers a detailed segmentation of the global face compact market based on skin type, end user, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
By skin type, the combination skin segment held the largest share in 2021, garnering more than one-fourth of the global face compact market revenue and is projected to maintain its dominance by 2031. The same segment would also cite the fastest CAGR of 6.3% throughout the forecast period. The dry skin, oily skin, sensitive skin, and others segments are also analyzed in the report.
By end user, the women segment accounted for the highest share in 2021, generating more than four-fifths of the global face compact market revenue and is projected to rule the roost by 2031. However, the men segment would portray the fastest CAGR of 5.9% during the forecast period.
By distribution channel, the indirect sales segment held the major share in 2021, contributing to more than three-fifths of the global face compact market revenue and is projected to maintain the lion’s share through 2031. Simultaneously, the same segment would also display the fastest CAGR of 5.8% throughout the forecast period. The direct sales segment is also discussed in the report.
By region, North America held the major share in 2021, garnering nearly one-third of the global face compact market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 6.2% throughout the forecast period. The other provinces studied through the report include Europe and LAMEA.
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The key market players analyzed in the global face compact market report include HB USA Holdings, Inc., Laura Mercier Cosmetics, Hindustan Unilever Limited, Baccarose, The Procter & Gamble Company, The Estee Lauder Companies Inc., Kosas Cosmetics, LLC, NARS Cosmetics, LOREAL S. A., Coty Inc., Kendo Holdings, Inc., Vellvette Lifestyle Private Limited, ColorBar Cosmetics Pvt. Ltd., and Chanel, Revlon, Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
