The global skin lightening products market size is expected to reach USD 13.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.4% over the forecast period. Increasing preference for fair skin in order to enhance beauty and confidence among consumers is expected to propel the growth of the global market. In addition, rising adoption of skin care regime to get an even tone, blemish free, and reduced acne spots is expected to boost the growth of the market in the forecast period.
These lightening products provide simple solutions to different problems addressing specific customer requirements related to acne spots, blemishes, pigmentation, and other related issues. Shifting trend towards pale and fair skin in the Asian and African countries as a matter of enhanced beauty has increased the prominence of these lightening products in these regions. Thus, marketers enhance their branding positions according to different regional requirements of consumers. For instance, in countries such as Japan, Philippines, and China, lightening products are associated with brightening or whitening skin and fair skin is connected with attractiveness and marriageability. While, in Korean countries, these products are addressed as a source of gaining youthfulness.
Moreover, increasing prominence of skin care regime among male consumers, particularly skin brightening techniques, owing to constant favourism for fair skinned people in Asian and Middle East countries has impacted the popularity of these products. For instance, Oriflame Cosmetics AG. addresses men’s fairness products with their brand North For Men Fairness Face Cream, which is sold across all the regions.
Creams dominated the global skin lightening products market in 2018 on account of extensive application of these products on a daily basis. Manufacturers produce these products in simple and convenient storage containers, which makes it compact, easy to use, and travel friendly. For instance, in 2018, Whitenicious Inc. have introduced new lightening cream called X Blac Chyna Diamond Illuminating and Lightening Cream in Nigeria, which is available in a crystal jar.
Natural lighteners are expected to expand at the fastest CAGR of 8.1% from 2019 to 2025. These lighteners are manufactured with the inclusion of plant extracts as well as fruit ingredients to treat conditions such as skin disorders in a natural way. For instance, in 2017, Helpful Cosmetics Ltd. introduced natural whitening system called Zeta White including face wash, moisturizer, and a night cream, which is 100% natural and 95% organic.
Asia Pacific led the market in 2018 and is expected to witness the fastest growth from 2019 to 2025. Consumers in the region link pale skin with beauty, which is greatly associated with career success and social status. Moreover, increased visibility of hyperpigmentation in Asian skin has increased the application of these lighteners.
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Further key findings from the report suggest:
By product, cleanser is projected to ascend at the fastest CAGR of 8.0% over the forecast period
By nature, the synthetic segment dominated the global skin lightening products market with an overall revenue share of 88.1% in 2018
Asia Pacific dominated the global market in 2018, accounting for 54.3% share of the overall revenue. This trend is projected to continue over the next few years
The industry is highly competitive in nature with the main players including L'Oréal S.A.; Beiersdorf AG; Shiseido Company; Himalaya Global Holdings Limited; Kanebo Cosmetics Inc.; Procter & Gamble Company; and Unilever PLC.
Grand View Research has segmented the global skin lightening products market on the basis of 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)
Central & South America
Middle East & Africa
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