The global Pore Strips Market size is expected to reach USD 2.14 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2021 to 2028. The millennial population has radically reshaped the beauty and personal care industry in recent years. Millennials are becoming more conscious of their physical appearances and looks and are willing to use diverse products that are proven to give effective skin nourishment and quick fixes. Inspired by these trends, numerous pore strip manufacturers are launching products that contain natural ingredients, such as aloe vera, lemon, orange, and charcoal.
With the increased access to the internet and social media apps such as Instagram and YouTube, consumers are looking to explore skincare products, including pore strips, on these platforms to gain the necessary information related to effective at-home skincare routines. With detailed videos from how to know your skin type to what kind of night/day routines to follow, these apps have a wide variety of content that suits the needs of beginners as well as experts.
Emerging markets and the increasing demand for overseas goods are further driving online spending. Consumers in emerging countries such as China and India prefer local e-commerce companies, such as Tmall in China and Flipkart in India. Consumer spending in the U.S. and some countries in Europe has witnessed a slight drop owing to the global recession. However, the market has witnessed significant growth in recent years due to the rising demand from emerging markets, such as China, India, South Korea, Vietnam, Thailand, and other South Asian countries.
As consumers have been spending less on beauty and grooming products over the past year and a half, many skincare companies have responded to the crisis by shifting gears and offering hand sanitizers and cleaning agents instead.
According to global reports, the beauty and personal care industry in the U.S. can decline by up to 35% in the worst-case scenario. In-store and offline purchases of pore strips accounted for approximately 85% of purchases. Due to the closure of stores worldwide amid the COVID-19 pandemic, 30% of stores were shut down and it is estimated that 2–3% of the stores will permanently shut down.
Related Press Release@ Pore Strips Market Report
Pore Strips Market Report Highlights
- The home end-use segment grabbed the largest share of over 65.0% in 2020. The growing fashion consciousness among consumers is expected to boost the growth of the segment
- By ingredient, the non-charcoal segment accounted for the largest share of over 70.0% in 2020. Changing consumer perception toward organic products and the growing utilization of environmentally sustainable products are fueling the demand for naturally derived ingredients
- Asia Pacific held the largest revenue share of more than 40.0% in 2020 and is expected to witness the fastest growth over the forecast period owing to the increasing product adoption in the region