The rising aging population and increased beauty awareness has introduced the trend to look young in the global market. This has largely increased the demand for anti-aging skin care products including the sheet face masks for anti-aging. The market for these products has also made different manufacturers to launch specialized products such as anti-aging or anti wrinkles. The demand for a youthful appearance is also being prevailed by the male population, thus attracting male consumers towards the sheet face mask market.
Sheet face masks market size was valued US$ 285.6 Mn in 2018 and expected to grow with a CAGR of 8.1% from 2019 to 2027. It has been estimated that the market will reach US$ 575.7 Mn in 2027.
Non-woven sheet face masks are growing at a slower pace compared to the other sheet face masks, because of the inconvenience it causes. Non-woven sheets are extremely light and have less water holding capacity, and hence tend to slip from the face. Also, these masks dry out easily because of their limited water holding capacity. Nevertheless, the extremely affordable rates, faster production, and easier application makes these sheet face masks rise at a CAGR of 7%
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Increasing Demand from Anti-aging Population
The market trend to look younger and maintain a healthy skin is prevailing globally, and is one of the major drivers for the growth of the sheet face mask market. A large number of elderly customers around the globe have the buying power as well as the desire to appear younger, in turn increasing the demand for anti-aging sheet face masks. The emphasis on anti-aging formulas and technology by various brands has led to a variety of new products in the market, thus enhancing its purchase. Currently, the rising anti-aging population and the higher spending capacity of elderly consumers has a high impact on this driver.
Modern Trade and Online Buying Options
The increase in online trade has brought the world closer and also made different brands available in different regions. Online trade benefits consumers by offering various options on one platform, as well as helps manufacturers to penetrate different markets. Shopping online has become more convenient due to the development in mobile and computer technology.
Apart from online shopping, availability of sheet face masks in modern trade that include hypermarkets, supermarkets etc. is also considered to be a boon for the market. Modern trade has not only been beneficial for the sheet mask market but the consumer goods market as a whole. This is because of impulse purchases, variety of products, multi brand availability, and the display of merchandise. This driver currently has a moderate impact on the growth of the market. However, with the anticipated rise in adoption of online shopping and increasing mall cultures, the impact would become high by the end of the forecast period.
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The high price of sheet face masks, especially the ones with luxury brand labels is acting as a restraint in this market. Due to high cost of some products, consumers with low purchasing powers are unable to pay for these products. The cost of these sophisticated skin care products is a hindrance for customers especially in the developing nations. These impacts are expected to decrease in coming years as a result of product development and competitive pricing strategy of various brands.
Major market participants profiled in this report are
- Sephora Inc.
- Boss Biological Technique Ltd.
- Lancome Paris
- 3Lab Inc
- Kracie Holdings, Ltd.
- Innisfree Corporation.(South Korea)
- BioRepublic Skin Care
- Star Skin Beauty Group AG
- Yunos Co. Ltd
- Es Cosmetics
- The Face Shop
- Tonymoly Co. Ltd.
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