Global Skin Whitening Products Market- Description
Plant extracted ingredients have been trending within the skincare industry. The use of plant extracts in skincare products has been a rising trend among consumers, especially millennials who are increasingly shifting to buy ecologically friendly products.
Also, the consumers have been inclined towards products constituting bioactive extracts because of their elevated skincare properties that includes, nutrient sufficiency.
These have made it possible to have healthy skin without any causative side effects. Also, the younger generation of women have their interest piqued in make-up and beauty products that has been creating subsequent opportunities for growth in demand for skin lightening products.
Global Skin Whitening Products Market- Overview
The Global skin whitening product market is projected to rise at a significant rate by 2030 expanding at a considerable CAGR over the forecast period of 2022-2030.
The fascination with becoming fairer has been a driving factor within the skincare industry and a larger section of Asian women has displayed an inclination towards skin lightening products, particularly in a bid to avoid the discrimination based on colour.
Also, the recent demand hike and rising penetration of skin lightening products is because of the rising demand from the natural and organic products, a sustainable approach on the manufacturers end, and introduction of innovative formulations into the market.
Global Skin Whitening Products Market- Key Market Trends
Rising consumer awareness in regards to the harmful effects of conventional, synthetic chemical-laden products
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising consumer awareness regarding the harmful effects of conventional, synthetic chemical-laden products. Also, these organically- and naturally-cultivated products such as aloe vera, sea kelp, argan oil, and jojoba oil are some of the key raw ingredients used for manufacturing skin lightening products.
Growing importance of self-care in recent years
Another major factor that has fuelled the market growth over the forecast period is the growing importance of self-care in recent years. The relaxing self-care experiences through complex skincare routines at home and this trend is driving the demand for products with active ingredients that have lightening as well as brightening properties that includes creams & lotions, repair creams, peels, masks, serums, powders, and scrubs.
Global Skin Whitening Products Market- Segmental analysis of the Market
Based on Product
Cream
Cleanser
Masks
Others
The cream segment has dominated the market growth over the forecast period. This is because of easy and effective penetration of cream in the skin that attributes to its increased usage among consumers. Market players are launching lightning creams with advanced technologies to increase their effectiveness.
Based on Nature
Synthetic
Natural
Organic
The synthetic segment has dominated the market growth over the forecast period. This is because of the chemical ingredients to de-pigment the skin is widely used in dermatology and cosmetics, which is also driving their usage in conventional product.
Global Skin Whitening Products Market- Geographical analysis of the market
Global Skin Whitening Products Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because the major players in the region are adopting various strategies to gain maximum customer penetration in the country.
Global Skin Whitening Products Market- Competitive Landscape
Some of the prominent companies operating in the market are LOral S.A.; Beiersdorf AG; Shiseido Co., Ltd.; Procter & Gamble; Unilever; Himalaya Global Holdings Ltd.; Kanebo Cosmetics Inc.; Lotus Herbals Pvt. Ltd.; VLCC Health Care Limited; Avon Products, Inc.
Report Scope
Global Skin Whitening Products Market: Historical Period- 2018-2021
Global Skin Whitening Products Market: Industry and Forecast Period- 2022-2030
Major segments covered
Product- cream, cleanser, masks, others
Nature- synthetic, organic, natural
Key Countries and Regions Covered
North America (United States, Canada)
Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Top companies profiled- LOral S.A.; Beiersdorf AG; Shiseido Co., Ltd.; Procter & Gamble; Unilever; Himalaya Global Holdings Ltd.; Kanebo Cosmetics Inc.; Lotus Herbals Pvt. Ltd.; VLCC Health Care Limited; Avon Products, Inc.
