Facial Treatment Industry to See Post-COVID-19 Boost

By Jemima McEvoy Saturday, April 17, 2021

The global facial treatment industry is projected to reach $1.4 billion in value by 2027, according to a new report from Research and Markets. This industry — which includes a broad range of different relaxing or cleansing treatments or products for the skin — is a subset of the massive $93 billion beauty market. The worldwide facial treatment industry and the companies that dominate it are expected to see significant growth over the next few years following the COVID-19 pandemic.

A beautician applying a face mask to a woman.

Market Profile

The facial treatment industry was valued at $903 million in 2020. The market includes processes performed by licensed estheticians that exfoliate, hydrate, and nourish the skin, as well as at-home facial treatments that can be purchased from a store. Chemical peels, also known as derma-peeling treatments, are an example of an anti-aging facial treatment.

Like the broader skincare products market — which was most recently valued at $134.8 billion — this market was impacted by COVID-19. The pandemic disrupted both supply and demand but had a particularly damaging impact on production. However, the facial treatment industry as a whole is expected to bounce back quickly.

Big Players

This market is dominated by a mix of large multinational companies and smaller, more regional businesses. US-based companies make up the majority of the market’s leading players. These include Venus Concepts, a global leader in medical aesthetics, as well as Cutera, Lumenis Ltd., Syneron Medical, STRATA Skin Sciences, Solta Medical International, and Sciton.

The impact of COVID-19 on the market can be seen in the 2020 earnings of these companies. For example, Venus Concepts saw its total revenue drop from $110.4 million in 2019 to $78 million in 2020. The biggest drop was in its US business, which decreased 28.9% year-over-year. International business for Venus Concepts dropped 8.3%. Even in Q4, as the company reported improvements, business was down 19% year-over-year to $25.8 million, as opposed to $31.9 million in Q4 2019.

Growth Projections

Luckily for Venus Concepts and other companies, the facial treatment market is expected to rebound, according to the report. The industry is projected to expand by a compound annual growth rate (CAGR) of 6.1% through 2027. By the end of the forecast period, the market will have grown from its 2020 value by more than 55%.

Factors Driving Growth

The factors driving this growth include the general economic recovery from the COVID-19 pandemic, driven — at least in part — by a decrease in supply chain disruptions. More specific to the facial treatment industry, certain subsets of the market are expected to see strong growth. Treatments that rely on laser-based devices, for example, are alone slated to reach $337.7 million by 2027, recording a 6.7% CAGR.

While the US market will reach $244.5 million during this period, some of the more notable growth is coming from the Asia-Pacific region. China, the world’s second-largest economy, will grow by a CAGR of 9.3% to reach a projected market size of $290.5 million by 2027. Japan, Canada, and Germany are also expected to see significant growth.

About the Author

Headshot of Jemima McEvoy

Jemima is a journalist who enjoys reporting on business, particularly small business and entrepreneurship.

Related Articles