The worldwide face essence market is projected to propel in the upcoming years

Facial essence is a light, moisturising liquid that provides skin with moisture to maintain it healthy and fresh. Over the forecast period, the global personal care industry is expected to fuel growth in the face essence market. According to the International Trade Administration (ITA), per capita expenditure on cosmetic items in the United States was US$ 139 in 2014, US$ 171 in South Korea, and US$ 174 in Japan. As a result, rising per capita spending on skin care and cosmetics is likely to propel the worldwide facial essence market forward over the forecast period.


Market Dynamics:-

Over the projected period, rising disposable income and high per capita expenditure on makeup and cosmetics are expected to propel the worldwide face essence market forward. According to the International Trade Administration (ITA), per capita spending on cosmetics in the United States was US$ 139 in 2014.

Over the projected period, however, the worldwide facial essence market is expected to be restrained by strict government regulations imposed on skincare products. For example, under 21CFR700.15, 21CFR700.19, and 21CFR 700.11, the United States Food and Drug Administration (FDA) prohibits the use of hazardous substances in cosmetics or skin care products.

Market Outlook:-

In 2018, Asia Pacific accounted for a substantial portion of the global facial essence market. Some of the primary drivers for market expansion include increased demand for organic products over chemical-based products, rising disposable income, and considerable growth of the personal care industry in the region.Japan, for example, is one of the world's largest markets for personal care products, according to the International Trade Administration (ITA). According to the same source, Japan's cosmetic market was valued at US$ 13,208 in 2015, while per capita yearly expenditure on personal care and cosmetics was US$ 174 in 2014.

Women held a dominating position in the global facial essence market in 2018, owing to an increase in the number of working women and increased disposable income of women, both of which are projected to fuel the segment's growth in the global facial essence market. For example, according to the United States Department of Labor, women's total annual median earnings in 2014 were US$ 40,168, rising to US$ 41,554 in 2016. According to the same source, the number of women in the workforce in the United States was 72,722 thousand in 2013, and 74,432 thousand in 2016.

In the worldwide facial essence market in 2018, the online channel segment held a high market share among distribution channels. Customers can order anything from an online channel and have it delivered to their door. Free shipping, home delivery, on-time delivery, quick exchange and return, and savings are also available in the online market.

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