Global Skin Lightening Products Market; By Product (Creams, Masks, and Others); By Nature (Synthetic, Natural, and Organic); As well as by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast: 2023-2032

Report Overview

The Global Skin Lightening Products Market size is expected to be worth around USD 15,984.29 million by 2032 from USD 9,720 million in 2022, growing at a CAGR of 5.1% during the forecast period 2022 to 2032.

Skin-lightening Products have the potential to improve skin tone, eliminate blemishes, and lessen pigmentation and discoloration. There is a growing desire to find a solution for specific skin issues, such as age spots and acne scars spot reduction. To meet the diverse needs of consumers, lighting products are being introduced by manufacturers. In December 2020, Blac Chyna partnered with Dencia to launch ‘Whitenicious’, a skin-brightening product, in Nigeria.

Market Dynamics

The COVID-19 outbreak greatly influenced consumer preferences. Consumers are now diligently looking for active and functional skincare products. This is expected to boost market growth prospects over the forecast period. To meet the ever-changing needs of customers, manufacturers are in the process of constantly developing new products. Shiseido Co. Ltd., Japan’s cosmetics manufacturer, introduced a multifunctional sunscreen called Anessa in June 2021. This product includes 50% skincare ingredients including m-tranexamic acid (TXA), a brightening ingredient that helps reduce the production of melanin.

This market will observe an increase in organically and naturally derived products as consumers become more aware of the negative effects of chemical-laden products. Aloe Vera and sea kelp are all organically and naturally grown and can be used to lighten skin. Petitcomo Cosmetics, a Korean cosmetic company, has launched two new lightening masks, Aqua Mask White and Ampoule Mask Black Edition, which are made with natural herbal ingredients to improve the skin’s tone.

In recent years, self-care has become more important than ever. Consumers have been encouraged to make relaxing home-care routines and create self-care experiences that are both effective and enjoyable. This key trend is driving consumers to look for products that contain active organic ingredients that lighten and brighten their skin, such as creams & lotions, peels, repair creams, masks, powders, serums, and scrubs. Vasu Healthcare introduced a premium skin-brightening range in November 2021 – rose and gold. The range includes face serums, face creams, and face washes. They are available online shopping at Amazon, and Flipkart, as well as its own website.

To improve a product’s effectiveness, companies continue to invest in research and development initiatives for skin-lightening creams. Cellif Microbalm, a capsule cream with microcapsule technology, was launched by Dr. Raymond Laboratories Inc., the leading brand LaStella. Each microcapsule has six components: shea butter, which provides intense moisturizing, adenosine, to reduce visibly occurring anti-aging signs, Argan oil, vitamin tree oil, and olive oil to boost the skin’s vitality, peptides, which restores texture, and rose water for soothing and moisturizing.

However, there are growing controversies about skin-lightening products around the world that could hinder this market’s growth. In July 2020, Unilever changed the name of Fair & Lovely, the most popular melanin-suppressing skin cream in India. It did so because of the criticism it received for branding products that rely on racial stereotypes. The company changed the product name to ‘Glow & Lovely’ and dropped the word fair’. Johnson & Johnson, which included the Neutrogena Fine Fairness lines in Asia and the Middle East as well as the Clean & Clear Fairness brand for India, also retreated from their skin-whitening business.

Global Skin Lightening Products Market

Product Analysis

With respect to ‘Product’ in 2021, the ‘Creams’ segment accounted for the largest skin-lightening product market share. Easy and effective penetration in the skin is what has led to its increased use among consumers. Market leaders are developing lightning creams using advanced technologies to improve their effectiveness. Neutrogena India’s New Bright Boost line of products was launched in April 2022. Resurfacing Micro Polish and Illuminating Serum are part of the product line. Gel Cream is also included. The ingredient formulation promises a 10x surface skin renewal rate, which results in a smoother, more even complexion.

However, the ‘Cleanser’ segment is expected to index the most growth, with a CAGR of 6.1%, between 2023 and 2032. Because of their multi-functional advantages, including lightening discoloration and lessening pigmentation as well as eliminating blemishes, these products are rapidly becoming more popular among consumers. Astaberry Biosciences, introduced a new whitening salve for brighter and glowing skin, in December 2019. The active natural ingredients in this product include mulberry and licorice extracts. This product helps in deep cleansing, moisturizing, reducing tanning, as well as improving skin texture and complexion.

Nature Analysis

With regards to ‘Nature’, in 2021, this market’s largest segment was the ‘Synthetic’ segment. The widespread use of chemical ingredients to de-pigment skin is driving their inclusion in cosmetics and dermatology. Hydroquinone, retinoids (Glycolic acid), glycolic acid, and azelaic acids are just a few of the chemicals found in these products. Due to their strong skin effects, these chemicals can accelerate the process of lightning. The skin could be affected if these chemicals are used for long durations. This segment will continue to grow across all regions thanks to increased research and development initiatives for new chemical compounds.

Due to the increasing demand for chemical-free products, the ‘Natural’ segment is anticipated to grow at a 6.2% CAGR over the forecast period. Natural skin care products have many advantages and are preferred by consumers over synthetic products. Vestige’s Assure Natural personal care product range includes sunscreen, moisturizers, night creams, skin scrubs, day creams, sleeping and body masks, as well as charcoal peel-off masks. They are vegan, cruelty-free, and natural. Market demand is expected to increase due to the growing Skin Lightening Products trend that is free of harmful chemicals like parabens and without side effects.

Key Market Segments:

Product

• Creams
• Cleansers
• Masks
• Others

Nature

• Synthetic
• Natural
• Organic

Regional Analysis

The Asia Pacific accounted for 54.8% of the global skin-lightening products market. This region’s major players are implementing a host of strategies to increase customer penetration. L’Oreal SA acquired Takami Co. in December 2020. Takami Co. is a Japanese skincare company that produces and markets Takami Whitening Cream (SPF45) that can be applied to any part of the body. This acquisition was intended to expand their customer base, product penetration, and visibility of both brands among consumers. Expansion initiatives such as this by major players will increase the market’s potential in the region over the forecast period.

North America is the second-fastest-growing market and is expected to index a CAGR of 5.6% over the Skin Lightening Products Market forecast period. Procter & Gamble is a well-established skin-lightening manufacturer in North America. The presence of players such as this, combined with the expanding infrastructure for retailers, is anticipated to complement market growth prospects. For a more youthful appearance and brighter skin, Canadian and American consumers are willing and able to pay a premium. According to SkinStore reports, Americans will spend an average of USD 322.88 annually on skincare by March 2021. This indicates that the market for skin care in this region is expected to experience significant growth over the forecast period.

Key Regions and Countries Covered іn This Rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

There are several players in the global and regional skin-lightening products market. These players are involved in major acquisitions, product launches, and promotional activities to increase brand loyalty and their customer bases. Some examples of these initiatives are:

SkinCeuticals, a medical skincare brand, launched PhytoA+ Brightening Treatment in February 2022. The Phyto portfolio contains Phyto Corrective Masque and Phyto Corrective Gel, which leads to brighter skin.

In December 2021, Refresh Skin Science, a division of Visionary Skincare Pvt. Ltd., debuted on the Indian market. Face serums, toners, skin serums, anti-aging serums, peeling treatments, and foamy cleansers are all part of their product portfolio. These products are aimed at brightening, drying, oily, pigmented, and acne-prone skin.

Kao USA Inc. (Biore), for instance, introduced the Biore Brightening Collection in September 2020. This collection includes a cleanser, exfoliator, mask, and pore strip. It is formulated using grapefruit, yuzu lime, ginseng, papaya, and dragon fruit.

Key Market Players

Listed below are a few top players in the global skin-lightening products market:

• L’Oreal S.A.
• Shiseido Co. Ltd.
• Beiersdorf AG
• Procter & Gamble
• Himalaya Global Holdings Limited
• Lotus Herbals Private Limited
• Shiseido Company Limited
• Unilever
• Avon Products, Inc.
• Kaya Limited
• Kanebo Cosmetics Inc.
• VLCC Health Care Limited
• Other Key Players

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For the Skin Lightening Products Market research study, the following years have been considered to estimate the market size: