LONDON--(BUSINESS WIRE)--The global oil control lotion market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report.
Premiumization of oil control lotions is one of the key drivers anticipated to foster market growth during the forecast period. Consumers prefer premium oil control cosmetics as these products are less toxic, offer long-lasting solutions, and do not have adverse effects on the skin. In addition, there has been a continuous increase in the consumption of oil control cosmetics including premium oil control lotions due to the growing trend of grooming at home. Vendors are focusing on expanding their offerings in the premium segment to cater to the consumer demand for skin nourishment and oil control. This will further accelerate market growth in the forthcoming years.
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As per Technavio, the increasing demand for grooming cosmetics for men will have a positive impact on the market and contribute to its growth significantly over the forecast period. The oil control lotion market research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global Oil Control Lotion Market: Increasing Demand for Grooming Cosmetics for Men
Men are increasingly becoming conscious of their appearance. This has led to an increasing demand for men’s grooming cosmetics in the recent years. Face washes, wipes, and other similar products are few of the most common oil control cosmetics being used by men. In addition, men are also using oil control lotions including acne control moisturizers and creams to prevent skin redness and acne issues caused due to excess oil secretion. This has led vendors to introduce oil control lotions that are customized to meet the evolving requirements of this consumer segment. Thus, an increasing demand for grooming cosmetics for men is further likely to drive the oil control lotion market growth during the forecast period.
“New product launches and the growing preference for DIY oil control lotions are some other key factors that will contribute to the growth of the oil control lotion market size during the forecast period,” says a senior analyst at Technavio.
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Global Oil Control Lotion Market: Segmentation Analysis
This market research report segments the global oil control lotion market by distribution channel (offline and online) and geographical regions (Europe, APAC, North America, South America, and MEA).
Europe led the market in 2018, followed by APAC, North America, South America, and MEA respectively. Several factors including the growing preference for online shopping and the rising effectiveness of celebrity endorsements have contributed to the oil control lotion market size in Europe. In addition, growing consumption of oil control lotions for the treatment of acne is further expected to contribute to the demand for oil control lotion in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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