TAGS: Skin Care
According to a new report by Grand View Research, Inc., the global skin lightening products market size is expected to reach USD 13.7 billion by 2025, expanding at a CAGR of 7.4% over the forecast period.
Growing Awareness Regarding Skin Lightening Products
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The global market is expected to propel as the consumer preference towards fairer skin is increasing.
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The skin lightening products address specific customer requirements related to pigmentation, blemishes, acne spots, and other related issues.
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Consumers rising adoption of skin care regime to get an even tone, blemish free, and reduced acne spots is expected to boost the growth of the market in the forecast period.
Region Wise Growth of Market
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There is a shifting trend towards fair and pale skin in the Asian and African countries.
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In Korean countries, these products are addressed as a source of gaining youthfulness.
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In countries, such as China, Japan, and Philippines, products are associated with skin brightening and fair skin relates to attractiveness and marriageability.
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Increasing prominence of skin care regime among male consumers in Asian and Middle East countries.
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Oriflame Cosmetics AG. addresses men’s fairness products with their brand North for Men Fairness Face Cream, which is sold across all the regions.
Key Findings
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Creams dominated the global skin lightening products market in 2018 on account of extensive application of these products on a daily basis.
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Natural lighteners are expected to expand at the fastest CAGR of 8.1% from 2019 to 2025.
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In 2018, Asia Pacific led the market and is expected to witness the fastest growth from 2019 to 2025.
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By product, cleanser is expected to grow at the fastest CAGR of 8.0% over the forecast period.
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By nature, the synthetic segment dominated the global skin lightening products market with an overall revenue share of 88.1% in 2018.
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Key Industry players in the global skin lightening products market include L'Oréal S.A., Beiersdorf, Shiseido Company, Himalaya Global Holdings Limited, Kanebo Cosmetics Inc., Procter & Gamble Company, and Unilever PLC.
Source: Grand View Research