The global skin lightening products market size was valued at $7,054.3 million in 2021 and is estimated to reach $14,602.4 million by 2031, registering a CAGR of 7.7% from 2022 to 2031.
Skin lightening is the process of using products to lighten dark spots on the skin or lighten the entire complexion. These products range from tablets, soaps, & bleaching creams to medical procedures including chemical peels and laser therapy. Both people with dark and light skin tones use skin lightening solutions to even out skin tone, reduce freckles, and remove age spots. These products are also known as skin brightening products. Skin lightening products have been gaining major traction in skin care products industry. Furthermore, rise in awareness regarding the instant benefits of the skin lightening products such as minimizing skin discoloration caused by sun & pollution helps to have a more youthful skin, smooth appearance, and even tone skin.
Risky side effects of highly chemically aided skin lightening products and home- based skin lightening procedures or treatments are a few of the restraints that are projected to slow the market's expansion throughout the forecast period. In addition, it has been discovered that those who use skin care products containing mercury had higher mercury levels in their blood, urine, and hair. Mercury exposure can harm the neurological system, create pain or rashes, or harm the kidneys.
According to the skin lightening products market analysis, the skin lightening products market is segmented into type, gender, distribution channel, and region. By type, it is segregated into creams & lotions, cleansers & toners, masks, and others. On the basis of gender, the market is categorized into Men and Women. By distribution channel, it is segregated into hypermarkets/supermarkets, specialty stores, pharma & drug stores, online sales channel, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and Rest of LAMEA).
Region wise, LAMEA has gained considerable share in skin lightening products and is expected grow at highest CAGR. This is majorly attributed to growth in per capita income, rise in expenditure on skin care products, and high desire to have white skin. The World Health Organization (WHO) reports that 77 percent of Nigerian women use skin-lightening cosmetics, the highest percentage in the world, where as it is 27 percent in Senegal and 59 percent in Togo. People use these products for several motives, however the majority of people claim to use skin lighteners in order to get white skin. Thus, above mentioned factors are expected to propel the growth of the LAMEA skin lightening products market during the forecast period.
The major players operating in the market are Avon Products, Inc., Kao Corporation, L’Oréal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company, Limited, Skin Food Co., Ltd., The Estée Lauder Companies Inc., The Procter& Gamble Company and Unilever Plc.
Skin lightening is the process of using products to lighten dark spots on the skin or lighten the entire complexion. These products range from tablets, soaps, & bleaching creams to medical procedures including chemical peels and laser therapy. Both people with dark and light skin tones use skin lightening solutions to even out skin tone, reduce freckles, and remove age spots. These products are also known as skin brightening products. Skin lightening products have been gaining major traction in skin care products industry. Furthermore, rise in awareness regarding the instant benefits of the skin lightening products such as minimizing skin discoloration caused by sun & pollution helps to have a more youthful skin, smooth appearance, and even tone skin.
Risky side effects of highly chemically aided skin lightening products and home- based skin lightening procedures or treatments are a few of the restraints that are projected to slow the market's expansion throughout the forecast period. In addition, it has been discovered that those who use skin care products containing mercury had higher mercury levels in their blood, urine, and hair. Mercury exposure can harm the neurological system, create pain or rashes, or harm the kidneys.
According to the skin lightening products market analysis, the skin lightening products market is segmented into type, gender, distribution channel, and region. By type, it is segregated into creams & lotions, cleansers & toners, masks, and others. On the basis of gender, the market is categorized into Men and Women. By distribution channel, it is segregated into hypermarkets/supermarkets, specialty stores, pharma & drug stores, online sales channel, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and Rest of LAMEA).
Region wise, LAMEA has gained considerable share in skin lightening products and is expected grow at highest CAGR. This is majorly attributed to growth in per capita income, rise in expenditure on skin care products, and high desire to have white skin. The World Health Organization (WHO) reports that 77 percent of Nigerian women use skin-lightening cosmetics, the highest percentage in the world, where as it is 27 percent in Senegal and 59 percent in Togo. People use these products for several motives, however the majority of people claim to use skin lighteners in order to get white skin. Thus, above mentioned factors are expected to propel the growth of the LAMEA skin lightening products market during the forecast period.
The major players operating in the market are Avon Products, Inc., Kao Corporation, L’Oréal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company, Limited, Skin Food Co., Ltd., The Estée Lauder Companies Inc., The Procter& Gamble Company and Unilever Plc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the skin lightening products market analysis from 2021 to 2031 to identify the prevailing skin lightening products market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the skin lightening products market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global skin lightening products market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distribution Channel
- Hypermarkets and Supermarkets
- Specialty Stores
- Pharma and Drug Stores
- Online Sales Channel
- Others
By Product
- Creams and Lotions
- Cleansers and Toners
- Masks
- Others
By Gender
- Men
- Women
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia And New Zealand
- South Korea
- Asean
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Turkey
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- AVON PRODUCTS, INC
- KAO CORPORATION
- L’ORÉAL S.A.
- ORIFLAME COSMETICS S.A.
- REVLON, INC.
- SHISEIDO COMPANY, LIMITED
- THE ESTEE LAUDER COMPANIES INC
- THE PROCTER& GAMBLE COMPANY
- UNILEVER PLC
- Lotus Herbals Pvt. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SKIN LIGHTENING PRODUCTS MARKET, BY PRODUCT
CHAPTER 5: SKIN LIGHTENING PRODUCTS MARKET, BY GENDER
CHAPTER 6: SKIN LIGHTENING PRODUCTS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: SKIN LIGHTENING PRODUCTS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Skin Lightening Products Market," the skin lightening products market was valued at $7.05 billion in 2021, and is estimated to reach $14.60 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.Skin lightening is the process of applying chemicals to make the skin lighter or more uniformly colored by lowering the melanin levels in the skin. It affects the skin cells' ability to produce melanin. The skin's pigment is caused by this melanin. To lighten the skin, a variety of procedures and products are available, including laser therapy and skin lightening lotions, creams, and other products. As they are more convenient and affordable than laser treatment, skin whitening solutions have seen a significant increase in popularity with consumers.
The beauty and skin care industry has progressed, owing to rise in trend of attention toward physical wellbeing. Furthermore, millennials are quoted as the main drivers behind the meteoric growth of the skin lightening segment. In addition, there is an ongoing trend, citing everything from aging of millennial demographic to a focus on self-care as a coping method against a difficult political and economic climate. Unfavorable environment, pollution, and dirt are some of the factors impacting the skin health, hence, people are increasingly using skin care products including skin lightening products. Therefore, owing to factors mentioned above, demand for skincare products is on rise in the market, which fuels the skin lightening products market growth.
The skin lightening products market is highly competitive and saturated. Availability of counterfeit products and fluctuation in the price of raw material are likely to hamper the growth of the market during the forecast period. Surge in the number of small scale businesses using low-quality raw material and availability of the low price counterfeit products restrain the market growth.
The COVID-19 outbreak negatively impacted the overall growth of the skin lightening products market in 2020. Disrupted supply chain, closures of the various distribution channels including hypermarket & supermarket, specialty stores, & others physical stores, and stagnant export & import activities were some of the factors that affected the growth of the market during the pandemic. Furthermore, according to government guidelines, most of the manufacturing units stopped their operational activities, which decreased the production of the skin lightening product.
According to the skin lightening products market analysis, the skin lightening products market is segmented into type, gender, distribution channel, and region. By type, it is segregated into creams & lotions, cleansers & toners, masks, and others. On the basis of gender, the market is categorized into men and women. By distribution channel, it is segregated into hypermarkets/supermarkets, specialty stores, pharma & drug stores, online sales channel, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia and Rest of LAMEA).
According to the skin lightening products market trends, on the basis of type, the creams & lotions segment was the highest revenue contributor to the market, with $3,284.1 million in 2021, and is estimated grow at a CAGR of 6.8% during the forecast period. The market for skin lightening products has seen a significant growth in demand for creams due to consumers' growing skin care consciousness. In addition, a rise in consumer expenditure on skin care items to look good and natural has fueled the demand for skin lightening creams and lotions. The easy availability of skin lightening cream products in pharma & drug stores and supermarkets, its ease of use on the body & face, and the rise in trend of improving physical looks especially in men have considerably fueled the skin lightening products market demand through the cream and lotions category during the course of the projected period.
According to the skin lightening products market analysis, on the basis of gender, men segment was the significant contributor to the market, with $1,769.0 million in 2021 and is expected grow at a CAGR of 8.5% during the forecast period. A wide range of men skin lightening products is available in the market for nourishing skin, such as lotions, creams, and soaps. In addition, the rise in consciousness about personal well-being and appearance has increased among men, which drives sales of skin lightening products. Moreover, owing to hectic lifestyles and varying climatic conditions, men consider using skincare products including skin lightening products. Furthermore, the male population is more concerned with hygiene and skin care, which is expected to generate revenue for stakeholders. Furthermore, the global growth in demand for skin lightening goods is ascribed to surge in the need to preserve a strong identity and self-image.
By distribution channel, the hypermarket & supermarket segment was the highest contributor to the market in 2021 and is estimated to reach $4,438.8 million by 2030, at a CAGR of 6.3% during the forecast period. The skin care and cosmetics sections in hypermarkets and supermarkets are separated, making it simpler for customers to find and buy the product. They give customers a significant edge by making a variety of beauty care goods available, including skin lightening products, offering discounts on certain brands, helping customers with sales, and facilitating simple checkouts. Consumers and manufacturers now have the opportunity to learn more about the skin-lightening solutions available in the market owing to growth of new hypermarkets/supermarkets in the suburbs.
According to skin lightening product market opportunities, region wise, Asia-Pacific garnered the significant skin lightening products market share in 2021, and is expected to maintain its market share throughout skin lightening products market forecast period. During the forecast period, Asia-Pacific is anticipated to maintain its huge market share for skin lightening products. This is mostly attributable to rise in skin-related worries, significant environmental change, and growth in pollution, which causes skin to become duller and develop more black patches. In addition, a few micro factors, such as rise in disposable income and the surge in proportion of men who purchase skin care products promote market expansion. Hence, during the anticipated time, the aforementioned elements are likely to increase the skin lightening products market share during the forecast period.
The players operating in the global skin lightening products industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are Avon Products, Inc., Kao Corporation, L’Oréal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company, Limited, Skin Food Co., Ltd., The Estée Lauder Companies Inc., The Procter& Gamble Company and Unilever Plc.
Key Findings of the Study
- The skin lightening products market size was valued at $7,054.3 million in 2020, and is estimated to reach $14,602.4 million by 2031, registering a CAGR of 7.7% from 2022 to 2031.
- In 2021, on the basis of type, the masks segment acquired $898.9 million, exhibiting 12.7% of the global market share.
- In 2021, by gender, the women segment was valued at $5,285.3 million, accounting for 74.9% of the market share.
- In 2021, on the basis of distribution channel, the specialty store segment acquired $1,715.9 million, exhibiting 24.3% of the global market share.
- China was the most prominent market in Asia-Pacific in 2021, and is projected to reach $2,400.4 million by 2031, growing at a CAGR of 6.8% during the forecast period.
Companies Mentioned
- Avon Products, Inc
- Kao Corporation
- L’Oréal S.A.
- Oriflame Cosmetics S.A.
- Revlon, Inc.
- Shiseido Company, Limited
- The Estee Lauder Companies Inc
- The Procter& Gamble Company
- Unilever plc
- Lotus Herbals Pvt. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 281 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 7054.3 million |
| Forecasted Market Value ( USD | $ 14602.4 million |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
