Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Skin Lightening Products market.
Trusted Business Insights presents an updated and Latest Study on Skin Lightening Products Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Skin Lightening Products market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Skin Lightening Products Market
The global skin lightening products market size was valued at USD 8.3 billion in 2018. Rising preference for fair skin as a matter of confidence and enhanced beauty, especially among female consumers, will boost the product demand. Furthermore, increasing adoption of natural and organic products, which lighten the complexion without damaging, is expected to fuel the demand for these products over the forecast period.
These lightening products provide various benefits such as reduction in pigmentation, lightening discoloration, even skin tone, and eliminate blemishes. Rising inclination of consumers towards a specific solution to different skin problems pertaining to age spot or acne spot reduction has increased the adoption of various skin lighteners in the market. Therefore, manufacturers are introducing skin lighteners in order to cater to the different needs of consumers. For instance, L’Oreal S.A., along with its brand LOreal Paris, produces Skin Perfect Anti-Imperfections and Whitening Cream. This product stresses on acne spot reduction as well as gives a fairer look including sun protection. Thus, they provide simple solutions to different skin problems for a limited period of time, which acts as a key factor driving the market for skin lightening products.
Media helps to showcase the importance of these lighteners in the view of battling colorism and inferior representation of dark skinned people across the globe. Thus, marketers target consumers of different regions with different marketing strategies. For instance, in countries such as Japan, Philippines, and China, skin lightening products are often linked to protection from sun and whitening skin and fair skin is associated with attractiveness and marriageability. While, in Korean countries, these products are linked to youthfulness. In North America, brands such as LOreal, Neutrogena, Dove, and Ponds ignore specific wording about skin lightening but focus on marketing of spot treatments and brightening.
Furthermore, increasing penetration of skin lighteners in the market has increased their application scope among male consumers. Shifting preference towards skin care regime among male consumers has also influenced the gender to adopt such products in order to maintain a healthy texture. Moreover, constant favoritism towards fair skinned people in Asian and Middle East countries has influenced male consumers to invest in such products. Therefore, manufacturers are increasingly shifting their attention towards male application of such lighteners, which is expected to boost the market growth substantially. For instance, Oriflame Cosmetics AG addresses mens fairness items with their brand North For Men Fairness Face Cream, which is sold across all the regions.
Product Insights of Skin Lightening Products Market
Cream emerged as the largest category, accounting for a share of 53.0% in 2018. The smooth application attributes of cream allow easy penetration in the skin and is also retained for a comparatively longer period of time. Companies indulge in constant research in order to produce these skin lightening creams with advanced technology factors so as to increase the effectiveness of product. For instance, in 2019, DR. RAYMOND LABORATORIES INC, along with its leading brand LaStella, has introduced CELLIF MICRO BALM, a capsule balm featuring micro capsule technology that helps in restoring the glow. Manufacturers produce these lightening products in simple and convenient storage jars and pots, which makes it compact and travel friendly. For instance, in 2018, Whitenicious Inc. has introduced a new skin lightening cream called X Blac Chyna Diamond Illuminating and Lightening Cream in Nigeria, which is available in a crystal jar.
Cleanser is expected to expand at the fastest CAGR of 8.0% from 2019 to 2025. The product includes face wash, toners, and serum, which are particularly driven by the female consumers owing to high investment in such items. Cleansers help target a specific area with different skin problems, which are often repaired with night application. For instance, in 2017, KOSÃ‰ Corporation introduced two revolutionary skin lightening products in Japan: Spawake Moisturising 2-in-1 Foam Cleanser and Spawake Whitening Ultra Fresh Gel Cream.
Synthetic products led the skin lightening products market and accounted for 88.1% share of the overall revenue in 2018. Inclusion of various chemicals in skin lightening cosmetics as a measure to add preservatives in order to increase shelf life boosts the growth of the segment. In addition, increased use of chemical ingredients in depigmentation of skin, which are widely used in dermatology and cosmetics, have positively affected the usage of such substances in conventional lightening products. These chemical ingredients help to speed up the process of lightening owing to their strong positive effect on the skin and thus, are widely used in the activity of whitening and brightening. However, longer usage of such items also pose risk to the health of skin. Whereas, increased research and development in the field by manufacturers with reference to new chemical compounds used in various lightening products has helped in gaining greater market share across regions.
Natural category is expected to expand at the fastest CAGR of 8.1% from 2019 to 2025 owing to increasing influence of chemical free products. Shifting preference of consumers towards natural products owing to their huge benefits with no side effects has influenced producers to produce such cosmetics. These products are manufactured with the inclusion of plant extracts as well as fruit ingredients to address various skin disorders in a natural way, which has increased the confidence of consumers in such items and thus, widened the scope for natural lightening cosmetics in the market. For instance, in 2017, Helpful Cosmetics Ltd. introduced natural whitening system called Zeta White including face wash, moisturizer, and a night cream, which is 100% natural and 95% organic.
Regional Insights of Skin Lightening Products Market
Asia Pacific emerged as the largest market, accounting for 54.3% share of global revenue in 2018. Wider product availability, along with increased penetration of online as well as offline channel of cosmetics, is driving the market in the region. Consumers in the region link pale skin with beauty, which is greatly associated with career success and social status. Moreover, increased visibility of hyperpigmentation in Asian skin has increased the application of skin lighteners across different cosmetic items pertaining to lotions, moisturizers, and creams. Thus, these products have a greater market share in countries such as China, Japan, Indonesia, Thailand, Malaysia, and Vietnam, which is expected to drive the market for skin lighteners in the forecast period.
North America is expected to expand at a CAGR of 7.5% from 2019 to 2025. The region witnesses increased inclination towards skin lightening products on account of growing preference for claims of radiance and brightness in the skin lightening products. Therefore, companies drive consumers attention towards such products by marketing with appropriate wordings and thus, boosting the market growth in the region. For instance, FAIR AND FLAWLESS provides natural and organic whitening products in U.S.
Market Share Insights of Skin Lightening Products Market
Key skin lightening product manufacturers include L’Oreal S.A.; Beiersdorf AG; Shiseido Company; Himalaya Global Holdings Limited; Kanebo Cosmetics Inc.; Procter & Gamble Company; Unilever PLC; Lotus Herbals Private Limited; VLCC Health Care Limited; and Avon Products Inc. The leading players in the market are stressing on product innovation as a result of new product development that helps gain a greater market share at the global level.
For instance, Petitcomo, a cosmetic brand from Korea, have launched two new lightening sheet mask: Ampoule Mask Black Edition and Aqua Mask White, with natural ingredients for improving skin tone. New product launches in the market help in keeping the interest alive of the consumers on account of increasing preference for skin lightening and even skin tone in majority of the regions.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Skin Lightening Products Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global skin lightening products market report on the basis of product, nature, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Nature Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Skin Lightening Products Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)
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