The Global Skin Lightening Products Market size is predicted to reach at USD 16.08 billion by 2030, increasing at a CAGR of 5.56% - Straits Research
Straits Research
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According to Straits Research, “The Global Skin Lightening Products Market Size was valued at USD 9.88 billion in 2021 and is predicted to reach at USD 16.08 billion by 2030, increasing at a CAGR of 5.56% from 2022 to 2030.”
New York, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) -- These skin-lightening procedures lighten the complexion. Getting skin-whitening creams is easy. Skin whitening treatments like lotions, bleaches, and deodorants have grown rapidly due to their accessibility and price. Rising disposable incomes and global demand for skin lightening products are driving the market. Skin lightening treatments become more affordable as disposable income rises. Increased availability to fast internet and online purchasing are growing the global skin lightening market. The visual appeal and market share of numerous products have improved due to technology advances like new formulations and packaging formats. Bioactive extracts that promote skin rejuvenation without side effects are popular. Men are increasingly using skin-lightening lotions, expanding the industry.
As people's discretionary income rises, so do skin-whitening products. Skin-lightening global Online shopping and high-speed Internet stimulate market growth. New technologies and product positioning boost appeal and market growth.
Unique product positioning that tries to alleviate the image of people of color, such as selling itself as a skincare and skin glowing alternative, also promotes to market growth. Popular products like Herbals WhiteGlow and herbal facewashes contain herbal components.
Increased Social-Media Organic Product Awareness
Consumers are spending more money on skin lightening products, which is driving market growth. Skin lightening products are booming with the beauty and personal care e-commerce business. Facebook, Instagram, Twitter, and fashion blogs have expanded public awareness of skin whitening products.
As customers prefer natural and organic products, the market share is expected to expand. Also, it includes no harsh chemicals. Synthetic skin care solutions contain potent, allergenic substances that aren't healthy for all skin types. Long-term impacts should be considered.
Innovations Create Commercial Opportunities
New skin lightening agents will be released, boosting the industry's future profitability. Skin whitening cream manufacturers have increased manufacturing in recent years. Manufacturers release simple, cost-effective compounds that boost corporate profits.
Sirona Biochem, a Canadian producer of skin lightening chemicals, subjected SBM-TFC-1067 to additional safety and efficacy study to help license the product. These programs are available in Asia Pacific, Europe, and North America, allowing several skin lightening products to use these compounds.
Regional Overview
Asia Pacific held 55% of the worldwide skin lightening market in 2021. The region's top corporations use a range of techniques to increase client penetration. L'Oréal SA inked an agreement to purchase Takami Co. in December 2020. Takami Co. creates and promotes the Takami skincare brand including Takami Whitening Cream SPF45. Takami Inc., a L'Oréal SA subsidiary, owns Takami Co. The acquisition was expected to boost client base, product penetration, and consumer visibility. The area's market will increase thanks to important enterprises increasing their operations during the projection period.
North America's CAGR throughout the projection period is 5.71%. Second-fastest growing market. The existence of well-established skin-lightening product makers in North America, such as Procter & Gamble and Unilever, along with the expansion of retail infrastructure, could increase the market in the region. Americans and Canadians are willing to spend a lot on cosmetics that promise to help them look younger and brighten their complexion. In March 2021, a SkinStore poll found that Americans spent 322.88 USD year on skincare. The region's market may develop in the near future.
Key Highlights
By Product, the Global Skin Lightening Products Market is segmented into Creams, Cleanser, Mask, and Others. In 2021, the sector of the market devoted to creams held the highest proportion of the market.
By Nature, the Global Skin Lightening Products Market is segmented into Synthetic, Natural, and Organic. In 2021, the synthetic segment was the most profitable and held the biggest market share.
By Region or Geography, the Global Skin Lightening Products Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, the global skin lightening products market was dominated by Asia Pacific.
List of major competitor companies in the Skin Lightening Products Market across the globe are:
L’Oréal S.A.
Shiseido Co., Ltd.
Procter & Gamble
Unilever PLC
Beiersdorf AG
VLCC Health Care Limited
Avon Products, Inc.
Himalaya Global Holdings Ltd.
Kanebo Cosmetics Inc.
Lotus Herbals Pvt. Ltd.
Estée Lauder Companies Inc
Clarins Group
Kaya Limited
Eveline Cosmetics
Bio Veda Action Research Private Limited
Recent Developments
April 2022 - The chairman of the wellness and healthcare organisation VLCC Health Care announced that the company will begin its initial public offering around the middle of this year. The corporation anticipates that by then the continuing Russia-Ukraine war's impact on the world markets will have subsided. From the IPO, the company hopes to raise between 850 and 900 crores.
March 2022 - P&G Ventures has relaunched the Bodewell brand of skin care products, which are specifically formulated for individuals who suffer from psoriasis and eczema. Bodewell empowers you to take charge of your skin and prepares you to face any challenge.
Global Skin Lightening Products Market: Segmentation
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