With new beauty products being launched almost every other day, the global beauty industry is witnessing an insane growth. One such product which has taken the growth of this industry to an altogether new level is the face oils segment. Regarded as the ultimate solution for all the skin concerns, face oils have emerged as one of the most sought after beauty products, used across various age groups. Extracted from plants, these oils not only rejuvenate and regenerate the skin but also have anti-inflammatory qualities. Whatever is your skin concern, there is probably a face oil to address it. Increased awareness about the benefits of facial oils backed with rising disposable income is driving the expansion of the face oils market at the global level. Analysts at Technavio expect the global face oils market to grow at a steady pace in the upcoming years, posting a CAGR of around 6% by 2020.
If one were to understand the vendor landscape of the facial oils market, it would be surprising to know that this is one industry where few mainstream players are losing market to smaller and niche competitors. This trend in especially evident in regions like North America and Western Europe, as consumers here prefer products that offer specific benefits and contain organic and natural ingredients. Some of the major players in the global face oil market, as identified by analysts at Technavio are:
A Germany-based company, Beiersdorf undertakes the production and commercialization of personal care products, which include skin and body care products. Some of its popular products are Nivea, La Prairie, and Eucerin. In addition to skin care products, the company also provides self-adhesive products and system solutions to various industries, craft businesses, and consumers. At present, Beiersdorf has more than 150 affiliates with operations in Europe, the Americas, Asia, Australia, and Africa.
An American company, Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. It sells the products of brands like Estée Lauder, La Mer, Origins, Aramis, Bobbi Brown, MAC, Clinique, and Aveda. It also has licenses to sell fragrance and cosmetics brands such as Tommy Hilfiger, Michael Kors, Donna Karan, Tom Ford, Coach, and Tory Burch.
Recently the company acquired Too Faced Cosmetics, with the motive of strengthening its position in the global prestige makeup category and increase their reach with millennials.
With its operations in 130 countries worldwide, L’Oréal is one of the major names in the cosmetic and beauty products industry. Vichy, Garnier, L’Oréal Paris and The Body Shop are some of its popular brands in the face oils market. In July 2016, the company inaugurated its new R&D center in Johannesburg, South Africa to accelerate its product development in the Sub-Saharan region.
Procter & Gamble (P&G)
Headquartered in Ohio, US P&G offers consumer products through high-frequency stores, grocery stores, e-commerce platforms, membership club stores, department stores, drugstores and mass merchandisers. Olay and SK-II are two of its major products in the global face oils market. With its business operations in more than 80 countries, the company reported revenue of $76.27 billion in FY2015.
A Japanese multinational personal care company, Shiseido Company Limited offers the highest quality products in brightening and anti-aging skincare, makeup and fragrance segment. Some of its globally popular brands are Clé de peau beauté, Shiseido and bareMinerals. The company’s long-term strategy is to invest in innovation and marketing actively. In July 2016, Shiseido signed a licensing agreement with Dolce&Gabbana – a leader in the fashion and luxury goods sector to strengthen its brand portfolio in the makeup and skin care segment. This move will support Shiseido’s long-term strategy to accelerate global growth through acquisitions and partnerships.
An American company, Avon is a 130 years old company in the beauty and cosmetics industry. With 6.4 million representatives for its direct selling channel and 36,700 employees worldwide, Avon is the fifth-largest beauty company and second-largest direct selling enterprise globally. Some of its well-recognized brands are ANEW, Avon Color, Avon Care, Skin-So-Soft, and Advance Techniques.
Founded in 1954, Clarins is one of the leading, high-end brands in Europe and the Middle-East. It caters to cosmetics, skincare, make-up, and fragrance segment and is present in around 130 countries across the globe. The company is actively engaged in the sustainable development of skincare products.
An American multinational cosmetic, skin care, fragrance, and personal care company Revlon is based in New York City. The company sells its products in more than 80 countries worldwide, and some of its global brand portfolios include Gatineau skincare, Revlon color cosmetics, and SinfulColors color cosmetics. With the aim of actively increasing its footprint in India, the company aims to open 80 exclusive outlets by the end 2017.
O Boticário is the biggest Brazilian cosmetics company and one of the largest players in the global sun care products market. Part of the Apothecary group, the is known for its use of natural ingredients such as açaí, cupuaçu, carnaúba, and guaraná in its products. Its product line consists of approximately 480 items, catering to body care, facial care, sun care, makeup, deodorizing colognes and deodorants.
French high-end luxury goods & jewelry company, Chanel focuses on fashion accessories and provides fashion wear, fragrances, beauty care products, apparel, accessories, fine jewelry, and watches. Some of its major skin care products are Le Lift Massage Masque, Le Blanc Pearl Soap, and Chanel5tandard.
Interested to know about the major drivers & challenges in the face oil market?
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