The global Skin Lightening Products Market size is estimated to reach USD 13.7 billion, by 2025, and is projected to grow at a CAGR of 7.4% from 2019 to 2025, according to a new report by Million Insights. The increasing consumer preference towards enhanced skin beauty products is a key factoring contributing to the market growth. In addition, the growing demand for skin care solutions for eliminating blemishes, acne spots and even tone skin is anticipated to foster the demand for the product.
The lightening products help to treat problems such as pigmentation, blemishes, and skin acne. Moreover, the increasing trend of faired skin especially in African and Asian countries is proliferating demand for beauty & cosmetics products. Manufacturers also redefine their product categories based on the regional requirements. For example, skin products in countries such as China, Japan, and the Philippines are primarily associated with fair skin, and whitening skin.
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Increasing favoritism towards fair-skinned individuals especially in Middle Eastern and Asian countries has influenced the male consumers to look for these skin lightening products. For example, Oriflame Cosmetics has introduced the men’s fairness creams.
The creams segment held the largest market share of over 50%, in 2018. The manufacturers focus on developing advanced creams to offer highly efficient products to meet customer needs. Whitenicious has launched the cream called X Blac illuminating and lightening cream, in 2018. These new product innovations are expected to increase the demand for skincare products.
The natural segment is projected to grow at a significant CAGR of around 8.1% over the forecasted period. These products are produced using fruit ingredients and plant extracts for skincare treatment. For instance, Helpful cosmetics ltd, launched natural moisturizer, and face wash, in 2017.
Asia Pacific region is expected to grow at the highest CAGR during the forecasted period. The increasing preference of consumers towards lightening and brightening products is proliferating skin lightening products market growth.
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Further key findings from the report suggest:
• Cleanser products segment is anticipated to exceed at the CAGR of around 8.0% from 2019 to 2025.
• Based on the nature, synthetic type segment held the highest market share of 88.1% in 2018.
• Asia Pacific led the market with market share of over 50.0% in 2018 and is projected to continue its growth over the coming few years.
• Major players in the market are L’Oréal S.A., Procter & Gamble Company, Beiersdorf AG, Himalaya Global Holdings Limited, Shiseido Company, Unilever PLC, Kanebo Cosmetics Inc., and VLCC Health Care Limited.
For the purpose of this report, Million Insights has segmented the global skin lightening products market based on product, nature, and region:
Skin Lightening Product Outlook (Revenue, USD Million, 2015 – 2025)
Skin Lightening Products Nature Outlook (Revenue, USD Million, 2015 – 2025)
Skin Lightening Products Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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