Jul 21, 2020 7:12 PM ET
iCrowd Newswire – Jul 21, 2020
Global Sheet Face Mask Market is estimated to be valued at USD 1,210.9 Million by 2023 and is expected to register a CAGR of 8.47% during the forecast period.
The non-woven masks segment dominated the global sheet face mask market, by type, and is projected to reach USD 369.3 million by 2023 owing to the cost-effectiveness of the product; moreover, it is the traditional fabric for sheet masks. However, the hydrogel masks segment is projected to be the fastest-growing segment during the forecast period.
Asia-Pacific dominated the market, accounting for the largest share of the market in 2017, and the regional market is expected to register a CAGR of 9.06% during the review period. The European market was the second-largest in 2017. The market is projected to reach USD 284.6 million by the end of 2023, with Italy being the leading market.
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Market Research Future (MRFR) recognizes Amorepacific Corporation (South Korea), L’Oréal S.A. (France), Christian Dior SE (France), The Estée Lauder Companies Inc. (US), LG Household & Health Care Ltd (South Korea), Starskin Group B.V. (Netherlands), Orgaid Inc. (US), Mijin Cosmetics (South Korea), TaikiUSA (US), and Biocrown Biotechnology Co., Ltd (China) as the key players in the global Sheet Face Mask Market.
Geographically, the global sheet face mask market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific was the largest market for sheet face masks in 2017 and is expected to remain dominant during the review period. Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. The rise in the demand for skin care products in daily life is a major driving factor for the growth of the sheet face mask market in Europe. Italy accounted for the largest market share of 23.43% in 2017 and the country-level market is projected to register a CAGR of 8.08% during the forecast period.
Global Sheet Face Mask Market has been segmented on the basis of type, distribution channel, and region. On the basis of type, the market has been divided into cotton masks, non-woven masks, hydrogel masks, bio-cellulose masks, and others. The non-woven masks segment held the majority market share in 2017. However, the hydrogel masks segment is anticipated to be the fastest-growing, followed by the bio-cellulose masks segment. The efficient performance of hydrogel masks in the absorption of active serum ingredients is driving the growth of the segment.
Based on distribution channel, the market has been divided into store-based and non-store-based. The store-based segment accounted for the larger market share in 2017. However, the non-store-based segment is expected to exhibit the higher CAGR during the forecast period. Manufacturers are adopting e-commerce channels for the distribution of their products to increase their geographic reach.
Key Findings of the Study
The Global Sheet Face Mask Market is projected to reach over USD 1,210.9 Million by 2023 at a 47% CAGR during the review period of 2018 to 2023.
Asia-Pacific accounted for the largest market share with Japan being the major contributor to the growth of the market.
The hydrogel masks type segment is projected to register the highest CAGR of 9.40% during the forecast period owing to the benefits offered by hydrogel masks over other types of sheet face masks.
Key manufacturers are adopting geographic expansions, corporate acquisitions, and product launches as growth strategies. Moreover, they are focusing on e-commerce for distribution.
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