iCrowdNewswire Feb 23, 2021 10:00 AM ET
According to the new market research report “Cosmetic Applicator Foam Market by Shape (Egg-shaped Sponges, Cosmetic Wedges, Others), Material Type (PU, Others), Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) – Global Forecast to 2025″, is projected to grow from USD 854 million in 2020 to USD 1,416 million by 2025, at a CAGR of 10.6% from 2020 to 2025. The growing cosmetic industry and the benefits of cosmetic applicator foams are the major factors driving the market for cosmetic applicator foam.
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By shape, the egg-shaped sponges segment accounted for the largest share of the cosmetic applicator foam market in 2019. This market share can be attributed to the advantages of egg-shaped sponges over other sponges such as durability and texture. Egg-shaped sponges are an edgeless sphere-shaped, porous structured cosmetic applicator foam. They are designed to apply and blend any cream or liquid makeup product onto the skin for a smooth, poreless finish. These sponges are known for their exclusive aqua-activated foam and sphere shape that can reach almost every contour on the face.
By material type, the PU segment accounted for a larger share of the cosmetic applicator foam market in 2019 as compared to the others segment. This market share can be attributed to the benefits of PU over other materials such as latex, PVA, and silicone. Polyurethane foam products with low-density semi-closed cells are ideal for skincare applications as they help in effective and uniform application of products on the skin. PU foams are biodegradable, odorless, and skin-friendly and have a uniform density with reasonable oil control. They also do not crump or shrink after usage.
Browse and in-depth TOC on “Cosmetic Applicator Foam Market – Global Forecast to 2025”
84 – Tables
42 – Figures
140 – Pages
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The cosmetic applicator foam market is projected to grow from USD 854 million in 2020 to USD 1,416 million by 2025, at a CAGR of 10.6% from 2020 to 2025. The growing cosmetic industry and the benefits of cosmetic applicator foams are the major factors driving the market for cosmetic applicator foam.
Coty, Inc. (US), L’Oréal SA (France), Estée Lauder Companies Inc. (US), New Avon Company (US), Shenzhen Karina Makeup Tools Ltd (China), Yumark Enterprises Corp. (Taiwan), Qual Cosmetics (China), PUSPONGE (China), TaikiUSA Inc. (US), KTT Enterprises (US), Kryolan (US), Huntsman Corporation (US), UFP Technologies, Inc. (US), FXI Holdings, Inc. (US), FoamPartner Group (Switzerland), The Woodbridge Group (Canada), and Porex Corporation (US)are the leading players in the value chain of the cosmetic applicator foam market. These players have adopted growth strategies such as expansions, acquisitions, agreements, and partnerships to enhance their position in the market.
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In January 2020, Coty, Inc., and Kylie Cosmetics (US) entered into a long-term strategic partnership to jointly build and expand Kylie Cosmetics’ existing beauty business into a global powerhouse brand.
In 2019, FXI Holdings, Inc. and Innocor, Inc. (US), signed an agreement to accelerate research & development in the foam industry. This agreement led to the introduction of new products to cater to the bedding, furniture, transportation, medical, filtration, acoustics, and other industrial sectors. This agreement helped reduce delivery times.
In 2017, The Woodbridge Group acquired full ownership of its joint venture Woodbridge FoamPartner Company located in Chattanooga (US) and named it Woodbridge Technical Products Company. This acquisition helped the company strengthen its technical polyurethane foam solutions segment.
In 2018, Huntsman Corporation commenced the construction of a new polyurethane systems facility within the Jebel Ali Free Trade Zone (JAFZA) in Dubai to strengthen the company’s downstream production capabilities in the Middle East region. The strategy helped the company expand its business in the Middle East and North Africa.
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