Westford, USA, July 28, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, there has been a noticeable shift in consumer preferences towards natural and organic skincare products, and this trend has extended its influence to the skin lightening products market. Customers are now seeking safer alternatives that harness the power of nature with a heightened awareness of the potential risks associated with certain chemicals commonly used in skincare, such as hydroquinone.
Browse in-depth TOC on the "Skin Lightening Products Market"
- Pages - 157
- Tables - 89
- Figures – 76
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Skin lightening products market have become increasingly popular among consumers due to their numerous benefits. These products are designed to address various skin concerns, making them a desirable solution for individuals seeking to improve their skin's appearance. One of the primary advantages of skin lighteners is their ability to reduce pigmentation and lighten areas of discoloration, such as dark spots and hyperpigmentation caused by sun damage or hormonal changes.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 10.57 Billion |
| 2030 Value Projection | USD 16.14 Billion |
| CAGR | 5.5% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Skin Lightening Products Market
- L'Oreal S.A.
- Unilever plc
- Beiersdorf AG
- Shiseido Company, Limited
- Johnson & Johnson Consumer Inc.
- Procter & Gamble Co.
- Estée Lauder Companies Inc.
- Clarins Group
- Kao Corporation
- Amorepacific Corporation
- Revlon Inc.
- Oriflame Holding AG
- Avon Products, Inc.
- Mary Kay Inc.
- Coty Inc.
- Lotus Herbals Limited
- Natura & Co Holding SA
- Merck KGaA
- Bajaj Corp Ltd.
- VLCC Health Care Limited
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Cream Segment is Expected to Grow in the Market Due to its Convenience
The skin lightening products market has been predominantly dominated by the cream segment, earning favoritism from customers due to its convenience of application and relatively affordable price point. Creams have emerged as the go-to choice for consumers seeking to lighten their skin tone or address issues such as hyperpigmentation.
The markets in North America is poised to become the second-fastest-growing skin lightening products market, with an expected CAGR of 5.6%. Several factors contribute to this positive outlook for the region's market. One key factor is the presence of well-established skin-lightening product manufacturers, including industry giants such as Procter & Gamble and Unilever.
Serum Segment is Expected to Dominate the Market Due to the Rising Demand for Effective Skincare Solutions
The serum segment is rapidly growing, fueled by global demand for effective skincare solutions in the skin lightening products market. Serums have gained immense popularity among consumers due to their unique attributes and targeted benefits for specific skin concerns.
Regional markets in the Asia Pacific emerged as the dominant force in the global skin lightening products market, accounting for an impressive share of 54.8%. This remarkable market position can be attributed to several factors, including the region's diverse population with varying skin concerns and preferences and the cultural significance placed on fair skin in many Asian countries.
A comprehensive analysis of the major players in the skin lightening products market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Skin Lightening Products Market
- The Minamata Convention, a crucial global agreement, took a significant step in February 2023 to regulate the use of mercury in skin lightening products. Under this convention, a strict maximum allowable limit of one milligram of mercury per kilogram was established to safeguard public health and the environment. This measure was necessary as mercury in cosmetics, including skin lightening products, has been associated with severe health risks like kidney damage, skin rashes, and nerve damage.
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Key Questions Answered in Skin Lightening Products Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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