The Charcoal Facewash Market Projected to Grow at a CAGR of 5.1% and Generate a Revenue of $4,607.2 Million by 2028Download Sample Reports Overview
The global charcoal facewash market is predicted to be valued at $4,607.2 million by 2028, surging from $3,106.5 million in 2020, at a noteworthy CAGR of 5.1%.
COVID-19 Impact on Charcoal Facewash Market
The outbreak of COVID-19 has brought several changes and financial uncertainties for functioning of various business across the world. However, charcoal facewash market experienced stable demand and positive impact owing to rising cleanliness and personal care hygiene measures among public. During COVID-19 pandemic, people had more time to spend in enhancing their skincare routines owing to work from home imposed across various countries. Also, facewash being an essential product, it was easily available at pharmacies and e-commerce platforms. During COVID-19, the demand for face cleansers, masks, and toners also increased significantly to boost the skin health. These factors have positively impacted the charcoal facewash market growth during the COVID-19 pandemic.
Moreover, various beauty and facewash manufactures have implemented several measures to help people and frontline healthcare workers in dealing with the pandemic situation. For instance, in March 2020, Unilever, the leading beauty and cosmetic brand, announced United for America initiative, which offers donations in the form of soap, personal hygiene products, soap, home cleaning products, and others. Also, the company has established a partnership with Feeding for America, the part of U.S. Hunger Relief Organization, under which the company donated 200,000 masks to New Jersey hospitals.
Global Charcoal Facewash Market Analysis
The digital transformation towards online shopping and the emergence of e-commerce platforms are major drivers of charcoal market growth. For instance, during pandemic, majority of the supermarket/hypermarkets, specialty stores, and brand outlets were closed for unprecedented time. Due to this, online shopping on various e-commerce platforms such as Amazon, Flipkart, and Nykaa gained huge popularity and significant attraction from the customers. Also, these platforms offer various discounts on various products and ease of shopping from the comfort of your home. In addition, charcoal facewash is highly beneficial as it removes impurities from your skin such as dirt, oil, dust, and makeup residue that revitalizes your skin, unclogs the pores, and induces fresh & clean look. Also, charcoal facewash is known to brighten your skin complexion especially during cold winter when the skin tends to be dry and dull. In addition, charcoal facewash is more common and handy for men as men’s skin has large pores compared to women that traps more dust and dirt. Hence, the facewash enriched with activated charcoal is highly beneficial to get rid of impurities, dust, and pollution from your pores. These factors are projected to drive the charcoal facewash market share during the forecast period.
However, charcoal facewash is less common especially among female population that is more inclined towards the use of pimple-clear facewash. Also, there is a tendency among female that if one facewash suits their skin, they are reluctant to try new facewash even if it is better.
The charcoal facewash offered by top beauty brand and the benefits associated with it is predicted to generate excellent growth opportunities. For instance, The Man Company charcoal facewash contains charcoal, argan oil, ylang-ylang, and amla that can effectively remove the early signs of acne, pimples, and blackheads. Also, it removes blemishes, prevents skin infections, has pleasant fragrance, exfoliates the skin, and is enriched with essential minerals to nourish your skin. Similarly, the RawNature charcoal facewash contains activated charcoal along with quinoa, coca amido, water, and other ingredients. This charcoal facewash is gentle on your skin, makes your skin soft, moisturizes the skin, and helps in removing the impurities. Similarly, Patanjali, the leading Indian brand, offers activated charcoal facewash which is enriched with neem, mint, aloe vera, and charcoal. This facewash soothes the skin, gives cooling effect, removes excess of oil, and kills the acne-causing germs.
Global Charcoal Facewash Market, Segmentation
The global charcoal facewash market is segmented based on application, gender, distribution channel, and region.
The application segment is further classified into cleansing, skin exfoliation, oil & acne control, and others. Among these, the cleansing sub-segment is anticipated to have a dominant market share and shall surpass $1,776.5 million by 2028, with an increase from $1,132.3 million in 2020. Cleansing is an important benefit of charcoal facewash that helps in removing all the impurities trapped in your pores that can lead to acne. The facewash enriched with activate charcoal is must to remove all the dirt, gunk, and dust trapped in your skin and it leaves your skin squeaky fresh and clean. Majority of people use facewash to cleanse their skin thoroughly which is projected to drive the demand for cleansing sub-segment of the charcoal facewash market in the upcoming years.
The gender segment is further classified into male, female, and unisex. Among these, the female sub-segment is anticipated to have a dominant market share and shall surpass $2,447.7 million by 2028, with an increase from $1,666.6 million in 2020. This is because females are more consciousness about their skincare hygiene. Also, they are more beauty conscious compared to men. In addition, rapid increase in the population of working women, rise in middle & upper middle-class population, and more disposable income have increased the popularity of charcoal facewash among females. In addition, the skin brightening properties of charcoal facewash attract more females as they want their skin to look clean, fresh, and glowy.
The distribution channel segment is further classified into hypermarket/supermarket, specialty stores, pharmacies, and online sales channel. Among these, the hypermarket/supermarket sub-segment is anticipated to have a dominant market share and shall surpass $1,680.6 million by 2028, with an increase from $1,099.7 million in 2020. Hypermarket/supermarket offers exciting shopping benefits to the customers such as freedom of selection, exciting offers & discounts, longer opening hours, better adaption & knowledge of consumer buying habits, good product assortment, and others. Usually hypermarket/supermarket is located at central location which offers ease of transport and ample of parking space that benefit the customers.
The charcoal facewash market in the Asia-Pacific region is projected to witness rapid growth. This region’s market generated a revenue of $1,125.8 million in 2020 and is projected to reach up to $1,773.3 million by 2028. Asia-pacific charcoal facewash market is driven by younger population, rising beauty consciousness, and peer pressure to look good which has greatly driven the demand for both female and male grooming products. For instance, 2/3rd of population in India is below 32 years of age. Owing to younger population with more spending power and technology-savvy people, the charcoal facewash demand in the Asia-Pacific region is anticipated to increase. In addition, growing pollution issues owing to rising population and urbanization that make your skin dull, giving rise to skin issues such as acne and blackheads have increased the demand for charcoal facewash, as this facewash deeply cleanses your skin and removes impurities from pores.
Key Players in the Global Charcoal Facewash Market
Some of the leading charcoal facewash market players are
- Guangzhou Zuofun Cosmetics Co. Limited
- L'Oréal S.A.
- Biocrown Biotechnology Co., Ltd
- Natures Organics
- Oxyglow Cosmetics
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Charcoal Facewash Market:
- Bargaining Power of Suppliers: The companies in charcoal facewash market are dependent on suppliers for purchase of raw materials such as argan oil, charcoal, and other chemical ingredients. However, owing to large number of suppliers and low switching cost, the bargaining potential of suppliers is reduced to some extent.
Thus, the bargaining power of suppliers is moderate.
- Bargaining Power of Buyers: In this market, the bargaining power of buyers is moderate as the demand for charcoal facewash products is increasing rapidly and companies are focusing on enhancing their consumer base via acquisition and business expansion.
Thus, buyer’s bargaining power will be moderate.
- Threat of New Entrants: The threat of new entrants is high owing to emergence of large number of local players that threatens the market share of leading & existing companies.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: The threat of substitutes is moderate owing to presence of large number of facewash products such as pimple clear facewash, fairness facewash, and others.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: The charcoal facewash market players are focusing on enhancing their product portfolio, business expansion, low pricing strategy due to which the competition is intense.
Therefore, competitive rivalry in the market is high.