DUBLIN--(BUSINESS WIRE)--The "Skin Lighteners - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Skin lightener products such as creams, bleaches and deodorants among others have been growing at a brisk pace, in part driven by increasing accessibility and affordability of consumers to these products. The expansion of the global skin lightening market is attributed to the increasing awareness about skin lightening products and the increase in disposable income in different nations. The ability to afford skin lightening products increases with the expansion of disposable income.
The global market for Skin Lighteners estimated at US$8 Billion in the year 2020, is projected to reach a revised size of US$11.8 Billion by 2026, growing at a CAGR of 6.6% over the analysis period.
Creams, one of the segments analyzed in the report, is projected to grow at a 7% CAGR to reach US$6.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cleansers segment is readjusted to a revised 7.4% CAGR for the next 7-year period. This segment currently accounts for a 21.7% share of the global Skin Lighteners market. Creams accounts for a significant share of the market, mainly on account of its easy application process, low cost and faster skin penetration capability along with several other benefits.
The Skin Lighteners market in the U.S. is estimated at US$327.6 Million in the year 2021. The country currently accounts for a 3.92% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$5.5 Billion in the year 2026 trailing a CAGR of 8.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.5% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market will reach US$127.4 Million by the end of the analysis period. Cultural factors and media's obsession with the fair skin in Asia, South America and Africa continues to fuel the demand for skin lightening/whitening products in these regions. Increasing obsession with fair skin among Asian men and women is a major driving force for the regional market, prompting manufacturers to launch a variety of products to address the needs of this population. The market in Asia is also fueled by explosive increase in the population along with rising influence of western culture and expanding middle class. In developed regions like North America and Europe, the high disposable incomes of consumers and wide access to both online and offline channels along with a wide bracket of product offerings contribute to the market growth.
On account of most consumers being at home due to the pandemic related lockdown restrictions, the 'self-care' products, for example at-home face masks, is expected to witness steady demand. In the global Masks segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$593.7 Million in the year 2020 will reach a projected size of US$856.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$156.7 Million by the year 2026.
Select Competitors (Total 123 Featured):
- Beiersdorf
- CavinKare
- Emami Limited
- Hindustan Unilever
- Jolen
- Kanebo Cosmetics
- Shiseido
-
Procter & Gamble
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Culture & Ethnicity Shape the Skin Lighteners Landscape
- Women of Color Spent Significantly on Lightening Creams
- Manufacturers Seek New Growth Avenues in Developed Markets
- Total Body Whitening Products Emerge as Potential Areas of Growth
- Women: An Important Consumer Cluster for Skin Lightening/Whitening Products
- Women No Longer the Only Target Market
- Rising Interest of Men in Beauty and Cosmetic Products: Skin Lightening Market to Benefit
- New Breed of "Metrosexuals" Spur Growth
- Natural Skin Lightening Ingredients Continue to Find Favor
- Trend towards Organic Skin Care Products Fuel Interest in Organic Skin Lightening Products
- Rise in Demand for Innovative Ingredients for Skin Lightening
- Growing Sales of Anti-Aging Products Augurs Well for Skin Lighteners Market
- Skin Bleaching Products: Commanding Significant Market in Asia
- Physician-Dispensed Skin Brightening and Lightening Products: Opportunities for Growth
- Combination of Ingredients Provide Better Results
- Skin Lightening Injections: A Shocking Craze
- Online Sales of Skin Lightening Products Register Strong Growth
- Use of Mercury in Skin Lightening Products and the Resultant Issues
- Lax Regulations, Unsafe Ingredients: Major Areas of Concern
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/h5tkmj
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