The global BB cream market is anticipated to reach USD 5.41 Billion by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 14.4% over the forecasted years, 2019 to 2025. The rise in the demand for multifunctional products that serve more than one purpose is the driving factor behind the market growth. Beauty balm or blemish balm are becoming popular among the millennials. They serve the purpose of sunscreen, moisturizer, primer as well as foundation.
BB creams hold a major share in the global skincare market. Rising disposable income among the working population coupled with the increase in the awareness among the consumers about personal appearance is acting as the major driving factor propelling the market growth. The younger generation is keener towards skincare and wellbeing. Thus, the demand for BB creams is expected to surge in the upcoming years.
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As the trend for the use of natural ingredients is on the rise, the manufacturers have started using organic or natural content for the manufacturing of BB creams. As these creams do not contain toxins or harmful chemicals, they are being preferred by the consumers in the developed as well as the developing regions across the globe.
These BB creams are considered as an all-in-one product, as they provide protection against the ultraviolet radiations, anti-aging effect as well as hydration. These products are becoming more popular in Asian countries like China, Korea, Japan, and India owing to the rising disposable income and increasing population.
Along with skin protection, these creams also reduce the time required for doing the makeup and thus has attracted many consumers worldwide. The working population which does not have extra time for daily makeup are the main consumers for this product. The western countries like the U.S. are the second largest consumers of BB creams owing to its extensive usage in salons and spa as well as across the beauty and personal care industry.
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Further key findings from the report suggest:
• The tube/ bottled segment for BB creams is expected to grow at a CAGR of 14.5% during the forecasted years.
• Since, the consumers are still preferring to purchase these products through the offline mode, the offline segment accounted for the highest share of 91.2% during the year 2018.
• The segment of aircushion has significant growth rate with the market share of 55.9 Million.
• The regions of Asia pacific had the largest share of around 40% during 2018 and is expected to continue its growth over the forecasted period.
• The BB cream market is highly competitive with the major players being L’Oréal S.A.; Avon Products, Inc.; The Estee Lauder Companies Inc.; Unilever etc. These players are investing more on R&Ds in order to develop new products which can increase the demand of the product over the next few years.
Million Insights has segmented the global BB Cream market on the basis of packaging, distribution channel, and region:
BB Cream Packaging Outlook (Revenue, USD Million, 2015 – 2025)
• Tube/ Bottle
• Air – cushion
BB Cream Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
BB Cream Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Rest of the World
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