Industry News

Skin Lightening Products Market to Reach USD23.0 Bn by 2020: Global Industry Analysts

Published on 2015-02-16. Author : SpecialChem

GIA announces the release of a comprehensive global report on Skin Lighteners. The global market for Skin Lighteners is projected to reach US$23.0 billion by 2020, driven by the desire among both women and men to have even-tone, light-colored skin.

Skin whitening products are growing in demand in the global cosmetics industry. The desire for light-colored and even-toned skin remains the most important factor driving demand for skin whitening products. In addition to skin lightening cream and lotion for the face, the retail market is inundated with skin-whitening solution for armpits elbows, arms, and feet. Opportunities in the market are moving beyond women into the men’s beauty segment. With personal grooming gaining significance among men, demand for male skin brightening and lightening products is on the rise, particularly in Asia-Pacific.

Skin lightening is a relatively smaller market in the West, where these products are primarily marketed as anti-aging products intended to deliver benefits such as reduction of freckles and spots. Rising demand for skin whiteners in countries such as the United States and the United Kingdom is attributed to the surge in immigration and the resulting expansion of ethnic communities. Popularity of skin whiteners is increasing in Asia, particularly in India, Japan, and China, where fair skin is associated with youth and beauty. The market is also witnessing robust demand from the Middle East. Strong economic growth, rising standard of living, growing base of middle class population, and increased per capita spending on beauty and wellness products, are key factors driving growth in these regions. Driven by consumer demand for safe products with superior effectiveness, the market is witnessing several advancements in ingredient formulations.

Given the numerous side effects associated with the use of chemical compounds, such as, hydroquinone and mercury, manufacturers are focusing on the development of natural alternatives.

As stated by the new market research report on Skin Lighteners, Japan represents the largest market worldwide. Consumers in Japan, especially women, are known to spend more on skin lightening products than women in other countries. Asia-Pacific is forecast to grow at a CAGR of 11.2% over the analysis period, led by India and China. India’s obsession with fair skin is mirrored by the dominance of fairness products in the domestic skincare market.

Major players covered in the report include Beiersdorf AG, CavinKare Pvt. Ltd., Clarins SA, E.T. Browne Drug Company Inc., Emami Limited, Hindustan Unilever Ltd., Jolen Inc., Kanebo Cosmetics Inc., Shiseido Company Limited, and The Procter & Gamble Company, among others.

The research report titled “Skin Lighteners: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Japan, Europe, Asia-Pacific (China, India and Rest of Asia-Pacific) and Rest of World.

About Global Industry Analysts, Inc. (GIA)

Global Industry Analysts, Inc. (GIA) is a reputed publisher of off-the-shelf market research. Recognized as one of the most consistently accurate forecasting company in the world, GIA currently serves more than 8,500 companies from 36 countries worldwide. The company was founded in 1987, initially recognized globally as a research boutique specializing in the medical industry. Over the past 23 years, the company expanded its coverage and now publishes extensively upon more than 180 major industries.

Source: Global Industry Analysts

Sales & Marketing Effectiveness in Chemicals - Fleming. Events
Back to Top