ALBANY, New York, December 26, 2016 /PRNewswire/ --
According to the research report, the global sheet face masks market is expected to reach a valuation of US$336.7 mn by the end of 2024 as against US$160.4 mn in 2015. During the forecast period of 2016 and 2024, the global market is expected to exhibit a CAGR of 8.7%.
Massive Population Base Boosts Asia Pacific Sheet Face Masks Market
In terms of fabric used for making sheet face masks, the global market is segmented into non-woven, hydrogel, bio-cellulose, and cotton. Of these, the bio-cellulose fabric masks are expected show a remarkable progress during the forecast period. Their growing demand will be a result of ease of availability and cost effectiveness. This segment is projected to rise at a CAGR of 8.8% during the forecast period. In terms of regions, Asia Pacific dominated the global market with a share of 37.9% in 2015. Analysts anticipate that the region will continue its dominance in the coming years due to a huge population base with a rising purchasing power.
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Improving Purchasing Power in Emerging Economies to Spike Demand
The global sheet face masks market has been witnessing a tremendous growth due to high adoption of sheet face masks in the personal care industry. The exhaustive and extensive research and development in making innovative sheet face masks is also expected to drive the growth of the overall market. Several manufacturing companies are focusing on developing products to cater to the needs of consumers, which is also expected to have a positive impact on the global market. The demand for sheet face masks is also expected to rise due to the growing need for these products amongst the elderly population. These masks promise to repair several signs of aging such as pores, wrinkles, dry lines, sagging skin, and blemishes amongst others.
Analysts have identified emerging economies such as Indonesia, Argentina, China, Brazil, and India as lucrative markets for sheet face masks for the next few years. The strengthening economies of these countries, growing disposable incomes, and changing lifestyles are all expected to make a significant contribution to the rising revenue of the global market. These markets will also benefit from the increasingly strong presence of manufacturers in the region. Another important driver for the global sheet face masks market is the growing number of men taking a keen interest in grooming. Urbanization and impactful marketing campaigns are also expected to determine the demand for these products in the coming few years.
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High Cost of Masks to Deter Market Growth
The global market, however, is likely to challenged by the poor availability of sheet face masks. The high cost of these products is also expected to hamper the growth of the market in the coming years. For instance, the aging population is the key consumer base of this market who might not have the purchasing power to buy these products. Thus, the market faces the tough challenge of catering to all types of consumers with varying budgets and needs.
The top three companies in the global sheet face masks market held a share of 36.5% in the overall market in 2015. Sephora Collection, Starskin, and Estee Lauder are the leading companies in the global market. These players are expected to focus on the introduction of new products in order to strengthen their position across the globe. "Players are expected to launch skincare innovations by merging science and beauty products," states the lead author of this research report.
This review is based on Transparency Market Research's report, titled "Sheet Face Masks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
Global Sheet Face Masks market can be segmented as follows:-
Global Sheet Face Masks Market, by Fabric Type
Global Sheet Face Masks Market, by Category Type
- Premium Sheet Face Masks
- Mass Sheet Face Masks
Global Sheet Face Masks Market, by Geography
- Rest of North America
- Rest of Europe
- Rest of APAC
- Rest of Latin America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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