Sheet Face Masks Market to Be Worth US$336.7 Mn by 2024 - TMR

Sheet Face Masks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

A new business intelligence study by Transparency Market Research (TMR) has detected that the global sheet face masks market is moderately consolidated, with three leading companies, viz. Estee Lauder, Sephora Collection, and Starskin reserving 36.5% of the total shares in 2015, while the rest of the shares were distributed among a large number of domestic and regional players. To stay ahead of the curve, these key companies are regularly innovating their product portfolio as well as indulging in aggressive marketing strategies influence new consumers. Most of the product innovation is based on the convenience of usage and portability as well as natural ingredients.

As per the estimations of the TMR report, the demand in the global sheet face masks will expand at a notable CAGR of 8.7% during the forecast period of 2016 to 2024, by the end of which the revenue in the market will multiply to US$336.7 mn, substantially up from its evaluated worth of US$160.4 mn in 2015. Dolce & Gabbana S.r.l. (Milan, Italy), Boss Biological Technique Ltd., (Guangdong, China), 3Lab Inc. (New Jersey, U.S.), Innisfree Corporation. (South Korea), Kracie Holdings, Ltd. (Tokyo, Japan), BioRepublic Skin Care (Atlanta, U.S.), DECLÉOR Paris. (Paris, France), Yunos Co. Ltd. (Osaka, Japan) are some of the other major companies profiled in this research report. For each of these companies, the report offers basic business overview, geographical presence on the basis of segment and geography, recent strategic decisions and historical roadmap, and revenue and operating profit.

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Based on fabric type, the sheet face masks market has been segmented into cotton, non-woven, hydrogel, bio-cellulose, and others, with the bio-cellulose segment projected to exhibit the strongest growth rate in the near future, gaining traction from its easy availability and affordability. Bio-cellulose sheet face masks are made from natural fiber and hence preferred. Based on category-type, the market has been bifurcated into premium sheet face masks and mass sheet face masks.

Geographically, the report rates Asia Pacific as the most profitable region. The emerging economies of India and China are heavily populated and disposable income of urban population has radically increased in these two countries, which is reflecting positively on the global sheet face masks market. In addition to that, men in these countries are also growing conscious of their appearance and these sheet face masks helps them improve their personas.

Increasing Disposable Income of Urban Population a Major Driver

The advent of advanced sheet face masks that can cater to the consumers as self-grooming products is the primary driver of the global sheet face masks market. In addition to that, the population concerns have escalated in the recent past and social media has helped spread those issues. Now, consumers are willing to keep these sheet face masks handy to deal with the environmental pollution. In addition to that, these marks also help in skin brightening, nourishment, add to beauty, and cleanse. Restless lifestyle, increasing disposable income, changing weather patterns, and advent of anti-aging formulations are also expected to drive the global sheet face masks market over the course of the forecast period. On the other hand, high cost of these products is hindering the market from attaining its true potential. That being said, the vendors of this market are regularly researching and developing products that are cost efficient and packed appropriately to meet the need of a larger mass. Moreover, most of the vendors of this market will be focusing on the emerging economies of Asia Pacific to find new consumers.

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Source: Transparency Market Research