Rockville , July 19, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global skin lightening products Market is expected to reach US $ 22 Billion by 2032 and the market is expected to witness a CAGR of 7.5% during the forecast period (2022-2032)
The COVID-19 problem affected the demand for skin-lightening goods in 2020, which decreased. However demand is anticipated to increase as internet sales outlets expand.
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Because to the quick expansion of infrastructure in nations like India, China, Indonesia, and Vietnam, the Asia Pacific region accounts for a sizable portion of the global market. The demand for skin lightening products is anticipated to increase to US$ 105 Billion by 2032 as a result of the region's growing population and housing market.
Report Attributes | Details |
| Forecast Period | 2022 - 2032 |
| Value Projection (2032) | US$ 22 Billion |
| Growth Rate (2022-2032) | 7.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 236 Tables |
| No. of Figures | 78 Figures |
Key Companies Profiled in This Report
- L’Oréal S.A.
- Procter & Gamble Co.
- Unilever plc.
- Beiersdorf AG
- Estee Lauder Co., Inc.
- Avon Products, Inc.
- Shiseido Company Limited
- E.T. Browne Drug Co., Inc.
- Kao Corporation
- Emami Ltd.
- Dabur India Ltd.
- Johnson & Johnson
Key Driving Forces Accelerating the Market Growth
- Various geographies such as North America have seen a significant increase in their diverse population, including individuals with different skin tones and ethnic backgrounds. This diversity has led to a growing demand for skin-lightening products among people looking to achieve lighter skin tones or address hyperpigmentation issues. For instance, North America has been witnessing a major market share of 22% of the global skin-lightening products market.
- Moreover, the influence of media, including television, social media, and advertising, has contributed to the popularity of lighter skin tones as a beauty ideal. Celebrities and influencers endorsing skin-lightening products have driven consumer interest and demand.
- As the economy improved and disposable income increased in North America, consumers had more spending power to invest in personal care products, including skin-lightening products.
- Continuous research and advancements in skin-lightening product formulations have resulted in safer and more effective products. Innovative ingredients and delivery systems have attracted consumers seeking more efficient solutions.
Vital indicators shaping the future of the industry
Changes in regulations related to skincare products, including skin-lightening products, can have a significant impact on the market. Stricter regulations or bans on certain ingredients could affect product formulations and availability.
The changing preferences and increasing awareness of consumers about ingredient safety, product efficacy, and the impact of beauty standards on health and self-esteem will drive demand for more natural, sustainable, and transparent products.
Ongoing research and development in the skincare industry may lead to the discovery of new and more effective skin-lightening ingredients. Consumers are likely to seek products that offer visible results without adverse effects.
Consumers are increasingly favoring natural and organic skincare products. Companies that offer skin-lightening products with natural, plant-based ingredients may gain a competitive advantage.
The demand for skin care products that promote inclusivity and diversity is on the rise. Brands that celebrate all skin tones and emphasize healthy skin, rather than promoting a specific ideal, are likely to appeal to a broader consumer base.
Challenges hindering the market growth
Skin lightening products have faced scrutiny due to potential health risks associated with certain ingredients, such as hydroquinone and mercury. Regulatory agencies and consumer advocacy groups have raised concerns about the safety of these products, leading to stricter regulations and bans on certain ingredients in some regions.
The association of skin-lightening products with the promotion of unrealistic beauty standards and a preference for lighter skin tones has led to negative perceptions among some consumers. This has caused ethical concerns and backlash against the use of such products.
How competition influences the market
Key market players are focusing on various organic and inorganic growth strategies such as product launches, acquisitions, and collaborations. The intense competition encourages companies to invest in research and development to create innovative skin-lightening products. This can lead to the introduction of new and improved formulations with advanced ingredients, better efficacy, and enhanced safety profiles.
- For instance, Gillette, in 2021, launched shaving and skincare products under the name Planet Kind. Moreover, the product line-up offers face washes, moisturizers, and others. Another example is Loreal’s acquired a skincare brand Theyers Natural Remedies.
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Key Segments in Skin Lightening Products Industry Research Report
- By Nature:
- Conventional
- Organic
- By Product Type:
- Creams and Lotions
- Cleansers and Toners
- Face Masks
- Scrubs
- Other Product Types
- By Sales Channel:
- Specialty Stores
- Convenience Stores
- Online Retailers
- Other Sales Channels
- By Region:
- North America
- Latin America
- Europe
- Japan
- APEJ
- Middle East Africa
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