Newark, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 10 billion in 2022 global skin-lightening products market will reach USD 17.90 billion in 2032. Given the growing importance placed on having an attractive physical appearance, skincare products have become an integral aspect of personal care, and consumer spending on them has increased over time. Over time, there has been an increase in demand for products that target specific skin issues such as melasma, acne scars, skin darkening, tanning, and hyperpigmentation. In recent years, there has been increased interest in the expanding use of active substances, including alpha arbutin and vitamin C.
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Key Insight of the Global Skin lightening products Market
Asia Pacific is expected to dominate the market during the forecast period.
The region's population density is a significant factor in the market's expansion. Regarding skin tone, the colonization of India and other South Asian nations has left a psychological mark on the population, leading to the perception that lighter skin is more attractive. Additionally, the market demand was favourably impacted by the considerable advertising of skin care companies offering skin-lightening products and celebrity endorsements. Many market players who provide efficient skin-lightening products meet the market's need for such items. The market is expanding due to the increased promotion of skin-lightening solutions for dark underarms, knees, elbows, necks, and other body regions.
In 2022, the creams segment dominated the market with the largest market share of 41% and revenue of 4.10 billion.
The product type segment is divided into creams, toners, cleansers, lotions, masks and others. In 2022, the creams segment dominated the market with the largest market share of 41% and revenue of 4.10 billion.
In 2022, the women segment dominated the market with the largest market share of 70% and revenue of 7 billion.
The end-user segment is divided into men and women. In 2022, the women segment dominated the market with the largest market share of 70% and revenue of 7 billion.
In 2022, the supermarkets/hypermarkets segment dominated the market with the largest market share of 36% and revenue of 3.60 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, pharmacies, online, specialty stores, beauty stores, convenience stores and others. In 2022, the supermarkets/hypermarkets segment dominated the market with the largest market share of 36% and revenue of 3.60 billion.
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Advancement in market
The Botanee International Skin Health Summit 2023 was held at the headquarters of Winona's parent company, Botanee Group. The Winona, Winona Baby, Aoxmed, and Beforteen multi-brand layout was a first for the Botanee Group and represents the company's second growth curve. The four-in-one Therapy Acquires International Expert Recognition: Introducing International Frontier Theory. Professor He Li, executive dean of the Hospital of Dermatology, the first affiliated hospital of Kunming Medical University, and head of the Ministry of Education's innovation team shared at the conference a significant advancement that she and her team made in understanding the pathogenesis of melasma and precise intervention. Experts have agreed on this approach, which addresses the four main melasma pathogenesis and has been published in the International Journal of Dermatology and Venereology.
Market Dynamics
Driver: the growing interest in skin care.
The internet and social media have aided in the spread of knowledge regarding skin care issues, their causes, and remedies. The need for personal care products tailored to each individual's unique needs and preferences has increased due to growing knowledge and information promoting self-awareness about one's skin, hair, and general physical appearance. One of the most popular products is skin lightening, which brightens, de-tans, exfoliates, treats spots, and reduces blemishes, pigmentation, scars, and other imperfections. The market for personal care products has risen due to the advent of domestic brands using natural ingredients and the idea of customized skincare. The population's improved ability to spend on personal care has raised consumer willingness and desire. So, the growing interest in skincare will benefit the market's expansion.
Restraints: increasing knowledge of skin-lightening products' adverse effects.
Numerous research that looked into the effects of skin-lightening products concluded that they were unsafe and could have negative side effects. One of the most serious and deadly negative effects is mercury poisoning, which can permanently destroy organs, including the kidney and liver. These products can also cause skin thinning, discolouration, dermatitis, rashes, and hives. In addition to having bodily effects, they also impact the consumer's mental health. The increased knowledge of the negative consequences of skin whitening products would hamper the market's expansion.
Opportunities: the release of skin-lightening goods for various body sections.
For many years, facial products dominated the market for skin-lightening products. However, the goods have evolved through time to include skin-lightening items for the inner thighs, back of the neck, elbows, armpits, knees, and other body parts. Additionally, these items have developed a niche market serving a single body component, allowing market participants to enhance sales and revenue. The industry has also grown due to the development of natural skin-lightening solutions made with organic substances that claim to be efficient without any adverse effects. Therefore, market growth and development in the forecast period will be driven by product variety in skin-lightening products.
Challenges: The vocal activism against colourism
Coloured individuals, from the black to the brown population, have understood the colourism they were subjected to all these years due to colonialism. They have started accepting their coloured skin and the beauty it carries. Several celebrities have vocally come out against skin-lightening products. Furthermore, the changing perspective of the younger generation to find beauty in each colour will challenge the market's growth.
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Some of the major players operating in the global skin-lightening products market are:
• Avon Products, Inc.
• Beiersdorf AG
• Himalaya Global Holdings Ltd.
• Kao Corporation
• L’Oréal S.A.
• Lotus Herbals Pvt. Ltd.
• Procter & Gamble
• Shiseido Co., Ltd.
• Unilever
• VLCC Health Care Limited
Key Segments cover in the market:
By Product Type
• Creams
• Toners
• Cleansers
• Lotions
• Masks
• Others
By End User
• Men
• Women
By Distribution channel
• Supermarkets/Hypermarkets
• Pharmacies
• Online
• Specialty Stores
• Beauty Stores
• Convenience Stores
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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