The Face Mask Market Is Booming, But So Is Competition – Unique Ingredients and Product Innovations to Capture the Lucrative Chinese Market

Executive Summary

• The global face mask market was worth $5.7 billion in 2016. It is forecast to grow at a compound annual growth rate (CAGR) of 9.1% from 2016 to 2021, to reach $6.3 billion in 2017 and $8.8 billion by 2021, according to data from Euromonitor International.
• China is by far the largest market in this category. Valued at $2.7 billion in 2016, it represents a significant 47.6% of the global market. Despite its sheer size, the Chinese market is estimated to see double-digit growth through to 2021, representing a CAGR of 11.7%, according to Euromonitor International.
• Although China represents almost half of the global face mask market, international brands have failed to compete with emerging Chinese brands that have grown to become the top-selling brands in the country in less than five years.
• One way beauty brands can capture market share in the Chinese beauty mask market is through innovative product offerings such as face masks with ingredients that combat pollutants’ damage to skin, which is a primary concern among beauty consumers.