Global Skin Lightening Products Market, By Product (Creams, Masks, and Others), By Nature (Synthetic, Natural, and Organic), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 35353
- Number of Pages: 347
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Report Overview
The Global Skin Lightening Products Market size is expected to be worth around USD 15,787 million by 2032 from USD 9,720 million in 2022, growing at a CAGR of 5.10% during the forecast period from 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 scar spot reduction. To meet the diverse needs of consumers, lighting products are being introduced by manufacturers.
The global skin-lightening products market refers to the industry that produces and sells various cosmetic products that are used to lighten or whiten the skin. These products can include creams, lotions, serums, and other topical treatments that aim to reduce the production of melanin in the skin, thereby lightening its color.
Drivers Factors
Rising Disposable Income & Awareness and Technological Advancements in Market.
Consumers in many developing nations are more inclined to purchase cosmetic goods when disposable income rises. As people try to look better and fulfill social expectations, this has increased demand for skin-lightening solutions. The need for skin-lightening goods has increased as people’s awareness of skin health and the advantages of utilizing skincare products has grown.
Customers are searching for goods that will help them obtain a more youthful, even complexion as they become more conscious of the condition of their skin. Technology progress has produced the newest and most potent skin-lightening products. For instance, the incorporation of nanotechnology into skin-lightening cosmetics has resulted in the development of products that can more effectively and quickly penetrate the skin. Over time, the idea of beauty has evolved greatly, with many cultures now elevating light skin as a desirable quality.
Demand for skin-lightening products has been fuelled by the desire for lighter skin, especially in nations where a fair complexion is linked with higher social prestige. The promotion of skin-lightening creams has benefited greatly from social media. On social media, influencers, and celebrities frequently promote these goods, creating buzz and increasing demand among their followers.
Restraints Factors
Health Concerns and Negative Public Perception are Big Impact on Skin Lightening Products Market.
It has been discovered that particular skin whitening creams include hazardous substances such as hydroquinone, mercury, and steroids that put users’ health in danger. As a result, regulators are now monitoring these items more closely, and public awareness of the possible hazards associated with using these products is rising.
Skin-lightening cosmetics have come under fire for encouraging unrealistic beauty standards and supporting colorism. Some customers are avoiding these goods in Favour of more inclusive and natural cosmetic products. Manufacturers trying to sell their goods in several markets may encounter difficulties because of the considerable variations in regulatory frameworks for skin-lightening products between various nations. Additionally, it may cause consumers to be uncertain about the efficacy and safety of certain goods.
Growth Opportunities
Development of Natural & Organic Products and Platform Available for Online Sales.
Manufacturers of skin-lightening cosmetics have a great chance to grow in emerging economies where there is a rising demand for these goods. For instance, it is anticipated that Southeast Asian and African nations will be significant growth areas in the next years. Manufacturers can differentiate their products and draw customers by utilizing innovative product development and distribution techniques.
For instance, creating goods that deliver quicker and more obvious effects may appeal to customers who want rapid fixes. The creation of skin-lightening products with added advantages like anti-aging or sun protection characteristics may open up new commercial potential. Customers who are looking for products with many benefits may find these items appealing.
Trending Factors
Rising Popularity of Dermatologist-Recommended Products and Customers Shift Towards Non-Hydroquinone Products
Consumers are increasingly looking for skin-lightening products that contain natural and organic ingredients. This trend is driven by a growing awareness of the potential risks associated with some of the synthetic chemicals used in these products. Consumers are looking for skin-lightening products that offer additional benefits, such as anti-aging or sun protection properties.
This trend is driven by a desire for products that offer multiple benefits and simplify the skincare routine. Hydroquinone is a common ingredient in many skin-lightening products, but it has been linked to a range of health concerns. As a result, there is a growing trend towards non-hydroquinone products, such as kojic acid, arbutin, and vitamin C.
Product Analysis
The Creams Fragment is the Most Lucrative Fragment in the Product of Skin Lightening Products Market.
Based on type, the market for skin-lightening products is divided into creams, masks, and others. Among these types, the creams segment is the most lucrative in the global skin-lightening products market. The total revenue share of the type of cream is 61% in 2022 for skin-lightening products. 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
The Synthetic Segment Accounted for the Largest Revenue Share in Skin Lightening Products Market.
Based on nature, the market is segmented into synthetic, natural, and organic. Among these, the synthetic segment is estimated to be the most lucrative segment in global skin-lightening products, with the largest revenue share of 70% for the forecast period.
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
Based on Product
- Creams
- Cleansers
- Masks
- Others
Based on Nature
- Synthetic
- Natural
- Organic
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted supply chains globally, causing delays and shortages in the production and distribution of skin-lightening products. This has led to rising prices and decreased availability of a few products. The economic impact of the pandemic has led to decreased consumer spending on non-essential products, including skin-lightening products.
This has resulted in a decline in demand for these products. With the closure of physical stores and social distancing measures, consumers have increasingly turned to online sales channels to purchase skin-lightening products.
This trend has accelerated the shift towards e-commerce in the market. The COVID-19 pandemic has led to an increased focus on personal hygiene, including skincare. This has made opportunities for skin-lightening products that offer additional benefits such as antibacterial or antiviral properties.
Regional Analysis
Asia Pacific Accounted for the Largest Revenue Share in Global Skin Lightening Products In 2022.
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
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players 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.
For example, 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.
Market Key Players
Listed below are some of the most prominent global skin-lightening products industry players.
- 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
Recent Developments
- In February 2021, L’Oréal introduced the removal of the words white, fair, and light from its products’ packaging & advertising, in response to increasing criticism of the promotion of fair skin.
- In June 2021, Unilever launched that it would rebrand its Fair & Lovely skin lightening products as Glow & Lovely, and Glow & Handsome, in response to criticism that the products promote negative stereotypes of darker skin tones.
- In July 2021, the Indian government proposed a ban on the sale of cosmetic products containing certain ingredients, including hydroquinone, mercury, and lead, owing to health concerns.
Report Scope:
Report Features Description Market Value (2022) USD 9,720 Mn Forecast Revenue (2032) USD 15787 Mn CAGR (2023-2032) 5.1 % Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Product-Creams, Masks, and Others; By Nature-Synthetic, Natural, and Organic; Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape 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 Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the current market size for the Skin Lightening Products Market?The Skin Lightening Products Market was valued at USD 9,720 million in 2022 and is expected to reach USD 15,787 million by 2032, growing at a CAGR of 5.10% during the forecast period.
What are the key segments of the Skin Lightening Products Market?The Skin Lightening Products Market can be segmented based on Product (Creams, Cleansers, Masks, Others), Based on Nature (Synthetic, Natural, Organic), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Who are the key players in the Skin Lightening Products Market?Some of the key players in the Skin Lightening Products Market include 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.
Skin Lightening Products MarketPublished date: Oct 2023add_shopping_cartBuy Now get_appDownload Sample - L’Oréal S.A. Company Profile
- Shiseido Co. Ltd.
- Beiersdorf AG
- Procter & Gamble
- Himalaya Global Holdings Limited
- Lotus Herbals Private Limited
- Shiseido Company Limited
- Unilever Plc Company Profile
- Avon Products Inc.
- Kaya Limited
- Kanebo Cosmetics Inc.
- VLCC Health Care Limited
- Other Key Players
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