Face Compact Market Expected to Reach $2.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Face Compact Market," The face compact market size was valued  at $1.3 billion in 2021, and is estimated to reach $2.2 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.

One of the most popular makeup products across the globe is compact powder. It usually takes on the appearance of fine powder. It is applied to the face to create a subtle coverage or a flawless finish to makeup. 

The bulk of organic and natural cosmetics are thought to be renewable and unharmful to the environment. Since utilizing them typically may not harm the environment, these products are in high demand all across the world.  The growth of natural and organic makeup products is anticipated to continue in the future due to the fact that these products typically contain plant and fruit extracts and concentrates. In addition, the cosmetics industry today provides a variety of green tech goods to meet consumer demand and to take use of Green tech techniques for making natural, organic cosmetics that are safe for the environment. Furthermore, a great deal of research has been done on the use of more ecologically friendly technical solutions to provide novel items on the market. Moreover, both customers and producers accept the usage of natural and organic beauty products, including face compact. The desire for natural and organic makeup products is also supported by the current trend of environmental and health consciousness. Since natural cosmetics are more expensive than chemical cosmetics, there are many opportunities for producers to launch affordable products in the market.  

The face compact industry is segmented on the basis of skin type, end user, distribution channel, and region. On the basis of skin type, the market is categorized into combination skin, oily skin, dry skin, sensitive skin, and others. On the basis of end users, the face compact market is bifurcated into men and women. On the basis of distribution channel, the market is bifurcated into direct and indirect sales. The distribution channel is further classified. On the basis of indirect sales, the market is categorized into hypermarkets/supermarkets, E-commerce, specialty stores, and others. On the basis of region, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Switzerland, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, Argentina and the Rest of LAMEA). 

On the basis of skin type, combination skin has the largest face compact market share in 2021 with a CAGR of 6.3%. Multiple different skin types are present in combination skin, and the condition of the skin might alter with the seasons. The cheeks of people with combination skin often have dry, flaky skin while other portions of their faces have an abundance of shine and oil. In addition, a number of environmental factors may have a role in the development of combination skin in consumers. The excessive sebum production from sebaceous glands, which maintains skin dry and supple, is expected to drive up demand for face compacts globally. In addition, people with combination skin types frequently have glands in their T-Zones that are more active and produce more sebum than normal, which may cause shine and lead to breakouts. All these factors lead towards the face compact market growth in the forecast period. 

On the basis of end users, women were the highest revenue contributor in 2021 i.e., $1070.8 million in 2021, and is expected to reach $1843.1 million by 2031 at a CAGR of 5.6%. A compact powder can help women everywhere achieve even skin tones, thus the Face Compact Market Demand is anticipated to increase quickly. Applying some compact powder might also be a great option for a consumer who only wants to level out the skin tone of the face and wear minimum makeup. On the other hand, if a customer decides to wear a lot of makeup, a compact powder may be used to blend all the cosmetics applied to the skin, such as foundation, concealer, and color corrector to improve the evenness and smoothness of the skin. Advantages like evening of skin tone is projected to boost the face compact market. 

On the basis of distribution channel, indirect sales held the largest share in 2021 and are expected to have the largest market share in 2031 due to the availability of a wide variety of nutritional items under one roof, indirect sales are gaining popularity. Customers prefer to purchase facial compacts and other items with health benefits when they are on sale. Moreover, products are positioned close to one another, allowing customers to compare them easily and choose which item to purchase. The face compact market trends are impacted by factors such as rise in urbanization, an increase in the working-class population, and competitive prices. Customers may purchase goods from these sales formats at competitive prices, and they are typically situated in locations that are simple to get to. As a result, consumers may fulfill all of their buying demands, saving them time and drawing a sizable consumer base to this market. 

On the basis of region, North America holds the largest share in 2021 i.e., $387.4 million in 2021, and is expected to reach $656 million by 2031 at a CAGR of 5.5%. In order to survive in the cutthroat industry, corporations have been influenced by the high penetration of face compacts in the North American market to introduce new and inventive products. Some of the nations in the region with enormous potential for face compacts include the U.S., Canada, and Mexico. 44% of American women prefer to apply makeup when leaving the house, according to scienceofpeople.com. Utilizing cosmetics in this area, such as face compacts, primer, and concealers, not only improves look but also boosts confidence. Moreover, one of the trends in the North American region is sustainable packaging for cosmetics like face compacts. 

The market is being driven by factors such as rapid growth in infrastructural development as well as various advancements in developing countries. The major players operating in the face compact market are M.A.C, Colorbar Cosmetics,  L'Oréal, Fenty Beauty, Laura Mercier, Kosas, NARS Cosmetics, NYX Cosmetics, IT Cosmetics, Huda Beauty,  Lakmé, SUGAR Cosmetics, Revlon, Rimmel London, Chanel, Chambor, Bourjois and Faces Canada. 

Key findings of the study  

• On the basis of skin type, face compact market analysis estimated that the combination skin segment to witnessed a significant growth, registering a CAGR of 6.3% during the forecast period..   

• On the basis of end user, the women segment is anticipated to grow at a CAGR of 5.6% during the forecast period.   

•  On the basis of distribution channel, the indirect sales segment is estimated to witness significant growth, registering a CAGR of 5.5% during the forecast period.   

• On the basis of region, North America was the dominant region in 2021, occupying a major share of the market.