The face mask market is projected to grow at a CAGR of 4.94% to reach US$9.783 billion by 2025, from US$7.325 billion in 2019. Just like any other fast-moving consumer goods (FMCG) the skincare and the beauty sector are steered and influenced by the trends which in today’s scenario have shifted towards more value-driven rationale than the past decade's band-wagon approach. Consumers are keener on selecting the product that is closer to nature and devoid of any synthetic chemicals. Besides, the importance of skincare has gained quite a momentum as exemplified by the annual average of occupation openings projected between 2016-26 for skincare specialists are 8,100 [Source: U.S. Bureau of Labor Statistics]. Therefore, with a myriad of natural ingredients and a variety of additives the market players in the face mask segment are engaging in constant innovation to woo in new consumers as well as retain their existing consumer base. For example, Givaudan Active Beauty has come up with face mask formulas that are basically targeted towards the value-driven generation Z, the increasingly growing consumer demographics who prefer their brands resonate with their values like self-expression, confidence, and naturalness. These masks from Givaudan took around six months to develop and are available 3 formulae varietals: an exfoliating blend made with papaya extract; night blend with natural yuzu extract and a restorative blend with natural dragon fruit. Further, taking the aid of such generation Z narrative, there market players who are trying to redefine the narrative o skincare and are promoting a holistic approach. To this extent, a newly launched Australian company called YORA is worth a mention. With a co-founder who has a strong background working for renowned multinationals in product developments, the company launched in 2002 in February with a wide portfolio of products like face mask among others. Their products fall within 3 categories namely Pro-age, hydration, and pollution protection. It has also preset nine different routines to help customers choose the product they need.
The other factor that is poised to drive face mask market growth is that of the prevailing pollution due to rapid industrialization and more availability of disposable income. The due urbanization and irregular lifestyle that resulting from erratic working schedules Are leaving the health-savvy population almost a very little room to make up for the lost nutrients. To this end, it’s the ripe opportunity for a variety of market players who are inclined to foray as well as innovate in this instant solution of face mask space. Thus, companies like Foreo based out of Sweden has taken the concept of face mask to a different level with their UFO Power Activated Masks, which are made available in the varietals of acai berry, green tea, and Bulgarian rose. Being essentially a health tech, they have come up with this device to address the shortage of time that the current generation of consumers is faced with, the promise of instant and effective result as well as providing value for money. Moreover, its uniqueness was so sought after that it had won a two-year IP battle in China for one of its facial beauty devices Luna. Despite such endeavors to disrupt the traditional face mask space consumers are still more reliant on products with traditional ingredients like Vitamin E, aloe vera and the likes because they find this most believable. Thus, this section of the consumer is less like to be influenced by a new type of ingredients that may be doubted due to their unfamiliarity with ingredients and thus may pose a restraining factor towards the growth of the face mask market. This is also because the felt need to include the new ingredients in the skein care routine is absent. Nevertheless, despite not being willing immediately these sorts of consumers are open to experimenting with new re types of face masks creating a plausible opportunity for the face mask market.
The current propensity of consumers to over sanitize due to the advent of a global pandemic is further expected to augment the demand. This factor is also expected to leave an indelible mark on the market trend s consumer behaviors have drastically changed and will emerge as new normal. With the frequency of handwashing, face washing is often accompanied and leads to the possibility if drying of the skin, thus creating a demand for even more consumption for a face mask as consumers are increasingly getting into self-isolation or self-quarantine during such uncertain times. Thereafter in March 2020 Indonesia’s leading natural beauty care brand, Sensatia Botanicals, is primed to introduce its latest addition to the assortment of skincare it offers. Made of all-natural oils and extracts,a new facial scrub and facial mask collection are expected to woo in the skin conscious consumers to treat their skin with a wide range of formula. This market is also irrespective of genders as exemplified by Hetime; a brand that launched in January 2002 mow offers sheet masks designed based on male facial structure. Further, men’s brand Lumin, which offers a wide portfolio of skincare products added five more products to its portfolio in March, including face masks. Thus form the aforesaid the market developments it’s clear that that there is growing g inclination of consumers to experiment which is fueling the need of mask manufacturers and skin care specialist to come up with variety f competitive attractions that have made the market even more conducive for the steady growth during the forecast period as well as beyond.