TAGS: Sustainability / Natural Cosmetics
Skin Care
According to a new report by Fact.MR, the skin lightening products market is anticipated to expand at a CAGR of around 7.5 percent over the next ten years.
Growth of Organic Skincare Products
Recent trends portray a significant increase in number of customers opting for natural and organic skincare products, attributed to the shift towards healthy lifestyle along with rising awareness about the ill-effects of synthetic and chemical products.
Additionally,
people with sensitive skin are paying more attention towards the use of certain chemicals in these products, which has eventually augmented growth of organic skincare products, in turn driving demand for organic skin lightening products.
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High R&D spending coupled with product innovation will aid market growth over the coming years,” said a Fact.MR analyst.
Europe is set to dominate the market in terms of production in 2021 and also through 2031. The market in China is expected to rise at a high single-digit CAGR through 2031. Due to the COVID-19 crisis, demand for skin lightening products was hit in 2020, which saw a decline. But with the growth of online sales channels, demand is expected to bounce back.
Moreover, paraben-free product sales have surged in recent years. For instance, over the years, paraben-containing cosmetic product sales are down by nearly seven points owing to the visible side-effects of chemicals.
Source: Fact.MR