ID: MRFR/CR/5192-CR | February 2021 | Region: Global | 104 pages
Sheet Face Mask Market, according to MRFR, is expected to register a CAGR of 8.47% to acquire USD 1,210.9 Million by 2023. The growing prevalence of skin problems such as acne and sunburn is driving the growth of the global market for sheet face masks.
The advent of the global pandemic, COVID-19, has led to the creation of a worldwide global crisis. With the growing number of cases, the global demand for sheet face masks is being driven in several ways. According to MRFR research, in the midst of the Covid-19 pandemic and over the next few months, demand for the global sheet face mask market is anticipated to increase. Because of the global lockdown, more people are paying attention to their health and hygiene and investing significant amounts of money in skin care products. One such product is the sheet face mask, which is expected to trigger significant demand during this lock down period.
However, with the closure of retail stores, a beauty salon for uncertain time in order to contain the virus, the outbreak of Covid-19 has created a panic situation among the population worldwide. During these uncertain times, beauty and cosmetic manufacturing companies are shifting their production lines from manufacturing cosmetics to essential products for the greater good of society, such as hand sanitizers, household and commercial disinfectants. This causes the production of cosmetics and beauty products, including sheet face masks, to decrease. In addition, the lack of adequate labour, raw materials and logistics are other major issues of concern that the entire cosmetic and beauty industry is currently facing worldwide.
Technological Innovations in Cosmetics to Drive Market Growth
Together with technological advances in the cosmetics industry, consumer preference for sheet face masks for relaxation, deep skin cleansing, and facial radiance has led to the introduction of innovative sheet face masks with effective results. The growing demand for skin enhancing products across the globe has largely benefited the Global Sheet Face Mask Market. Increased spending on skincare products has been driven by rapid urbanisation and increased per capita disposable incomes. During the forecast period, the growing awareness of sheet face masks via social media and celebrity endorsements is expected to spur market growth. In addition, during the review period, the growth of the e-commerce industry and the inclination of producers for this mode of distribution are further expected to boost the growth of the worldwide sheet face mask market.
R&D Investments to Create Growth Aveneus for Market Players
Due to the popularity of Korean celebrities like the BTS boy band, Korean beauty products are gaining traction in the market. It is perceived that the skin of the band members is flawless and healthy. In addition, sales of Korean products increased after the live telecast of the skincare regime of the band, which included the use of sheet face masks. The increased awareness of sustainability and environmental footprint largely influences consumers' buying decisions. During the forecast period, the adoption of novel technologies and materials is expected to propel the revenue growth of the overall sheet face mask market.
Low-Quality Face Mask Serum Impedes Market Growth
However, sheet face mask disadvantages such as the use of low-quality face mask serum, faster evaporation, lack of cleaning and exfoliating properties can hamper demand and restrict global market growth over the forecast period.
It is expected that the non-woven masks segment will lead the market and record a substantial CAGR to reach USD 369.3 million by the end of 2023. The cheapest are non-woven sheet masks, making them popular throughout the globe. However, from 2018 to 2023, the hydrogel masks segment is projected to exhibit the highest CAGR of 9.40%. In this product, the high absorption of active ingredients is driving the growth of the segment.
By Distribution Channel
The larger market share in 2017 was accounted for by the store-based segment. However, during the forecast period, the non-store-based segment is expected to exhibit the highest CAGR. To increase their geographical reach, manufacturers are using e-commerce channels to distribute their products.
China Dominates the APAC Market Growth
In 2017, Asia-Pacific accounted for the largest Sheet Face Mask Market share of 42.91 percent, and during the forecast period, the regional market is projected to register a CAGR of 9.06 percent. Japan is one of the region's leading markets, accounting for the greatest share of the market during the review period. However, during the forecast period from 2018 to 2023, the Chinese market is projected to show the highest growth rate of 9.34 percent. In recent years, continuous product innovation has been seen as a result of the increasing demand for skin care products in these countries.
U.S. dominates the North American Market Growth
Over the forecast period, North America is expected to experience the quickest growth. Due to the high demand for Korean beauty products in the country, major global players are concentrating on improving product penetration in the U.S. Natural ingredients such as green tea, bee venom, bamboo sap, and herbs make up the majority of Korean products. This is expected to boost demand for sheet masks based on natural ingredients, such as bio-cellulose and hydrogel masks, which will drive Sheet Face Mask Market growth.
Germany Dominates the Europe Market Growth
It is estimated that by 2023, the European market will exceed USD 284.6 million. The growth of the sheet face mask market in the region is driven by continuous development in skincare products and the inclination of the working population towards skin-enhancing products. It is expected that improved product penetration will increase the product's visibility, which will generate market demand. Italy, followed by the UK, is the major contributor to the growth of the regional Sheet Face Mask Market.
Product Development remains the primary focus of Market Players
The players operating in the global sheet face mask market concentrate on launching products and expanding their global footprints by entering untapped markets. With global players participating in product innovation strategies, the global market is highly fragmented and competitive. In order to introduce sheet masks with new ingredients, major beauty brands are investing in research and development. In addition, sheet masks are gaining market visibility for specific parts of the face, such as the eyes and nose. Such variables are expected to increase commodity demand and have a positive effect on consumer development.
September 2020: Masque Bar witnessed an increasing demand for the sheet mask Cover & Soothe, which can be worn under masks and was initially developed for individuals employed in the medical industry. This mask is infused with calming aloe vera, hydrating hyaluronic acid, and healing calendula, covering the area around the mouth and chin. It can be used to relieve the area covered by the face mask or simply placed under the anti-COVID mask as an end-of-day treatment.
August 2020: Under its specialty nonwoven ingredient brand, Veocel, the Lenzing Group introduced the new Lenzing Lyocell Fine Skin and Lenzing Lyocell Micro Skin fibres. These fibres, introduced under the Veocel Beauty segment, present, according to the company, a premium level of fineness, exquisite softness and translucency, ideal for beauty applications, particularly for facial sheet masks. In order to add greater supply chain transparency, an all-new special production system is also introduced and will allow genuine premium Veocel Lyocell fibres to be identified in the final product.
By Distribution Channel
Frequently Asked Questions (FAQ) :
Sheet face mask market is projected to grow at an 8.47% CAGR between 2016-2023.
The Asia Pacific is expected to dominate the sheet face mask market.
Sheet face mask market is predicted to touch USD 1,210.9 million by 2023.
Key players profiled in the sheet face mask market include Biocrown Biotechnology Co., Ltd (China), TaikiUSA (US), Mijin Cosmetics (South Korea), Orgaid Inc. (US), Starskin Group B.V. (Netherlands), LG Household & Health Care Ltd (South Korea), The Estée Lauder Companies Inc. (US), Christian Dior SE (France), L’Oréal S.A. (France), and Amorepacific Corporation (South Korea).
Different strategies adopted by industry players to strengthen their position in the sheet face mask market include extensive R&D, mergers and acquisitions, collaborations, and strategic alliances.