USD 10.56 billion
Global Skin Lightening Products Market Size, Share, Growth Analysis, By End-use(Skin types, age groups), By Distribution channel(Online, offline and others), By Product type(Creams, lotions) - Industry Forecast 2024-2031
Report ID:
SQMIG30K2012 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
89 |
Figures:
79
Global Skin Lightening Products Market Insights
Global Skin Lightening Products Market size was valued at USD 10.56 billion in 2022 and is poised to grow from USD 11.15 billion in 2023 to USD 17.26 billion by 2031, at a CAGR of 5.61% during the forecast period (2024-2031).
Skin Lightening Products are becoming popular since It addresses skin concerns such as hyperpigmentation, acne, scars, and age spots. The various advantages provided by skin-lightening products include diverse product offerings, innovations, and the market in recent times helped to create employment sources for developing nations.
Hyperpigmentation refers to the uneven distribution of melanin, the pigment that gives color to our skin. It can appear in the form of dark spots, age spots, and other discolorations that can detract from the skin's overall appearance. Skin lightening products are marketed to address hyperpigmentation by reducing the appearance of these dark spots and creating a more even skin tone.
Skin lightening products are formulated to address uneven skin tone, including dark spots and patches, by reducing the production of melanin in the skin. Melanin is responsible for the color of our skin and too much of it in one area can lead to an uneven complexion. Skin-lightening products work by inhibiting the activity of tyrosinase, an enzyme involved in the production of melanin, thereby reducing the amount of melanin in the skin. However, it is important to note that some skin-lightening products may contain potentially harmful ingredients, such as hydroquinone, which can cause irritation or allergic reactions in some individuals. It is also possible to overuse skin-lightening products, which can result in an uneven or patchy complexion.
US Skin Lightening Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Creams.
Fastest Growth
Serums.
Growth Rate
5.61% CAGR
Global skin lightening products Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global skin lightening products Market Size By Product type ($ Bn)
Globalskin lightening products Market Size By Product type (%)
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Global Skin Lightening Products Market Segmental Analysis
Global Skin Lightening Products market is segmented on the basis of Product type, active ingredients, end user, distribution channel, and region. By Product type, the market is segmented into Creams, serums, lotions, and others. By end user, the market is segmented into Skin Types, age groups, gender, and others. By Distribution channel, the market is segmented into Online, offline, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Product
The skin lightening product market has historically been led by the cream segment, which has been favored by customers for its ease of application and relatively low price point. However, the serum segment is currently experiencing rapid growth due to increasing global demand. Serums are popular due to their lightweight texture, high concentration of active ingredients, and targeted benefits for specific skin concerns such as hyperpigmentation, dark spots, and uneven skin tone. Additionally, serums are often perceived as a premium skincare product due to their higher price point, which may contribute to their growth in the market.
Globalskin lightening products Market By Product type, 2023 (%)
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Global Skin Lightening Products Market Regional Insights
The skin-lightening products market is predominantly dominated by the Asia-Pacific region, where there is a high demand for such products in countries like China, India, and Japan. This region has a large population with diverse skin types and tones, and a cultural preference for fairer skin, which has contributed to the dominant market position.
The Middle East and Africa are expected to be the fastest-growing region in the skin-lightening products market, driven by the rising demand for these products in countries such as Nigeria, South Africa, and Saudi Arabia. The market in this region is fueled by factors such as the influence of Western beauty standards, increasing disposable income, and growing awareness of skin health.
Global skin lightening products Market By Region, 2024-2031
- Largest
- Fastest
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Global Skin Lightening Products Market Dynamics
Drivers
Media and Advertising is Boosting Skin Lightening Products market
- The media and advertising have a significant impact on shaping societal preferences for skin tone. Promotions featuring celebrities with lighter skin tones create a notion that fairer skin is more appealing and sought-after, thereby increasing the demand for skin-lightening products among consumers who desire a lighter complexion.
Restraints
Health Concerns to Hinder Market Growth
- The skin lightening products market is restricted by health concerns, as the presence of certain chemicals in such products can lead to adverse effects like skin irritation, allergies, and even skin cancer. Due to these health concerns, some consumers may be reluctant to use skin lightening products, which can negatively impact the growth of the market.
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Global Skin Lightening Products Market Competitive Landscape
The market for skin lightening products is intensely competitive, with a large number of companies competing for a share of the market. These companies offer a diverse array of products that target different skin issues, such as hyperpigmentation, uneven skin tone, and dark spots.
Recently, there has been a growing trend towards the use of natural and organic ingredients in skincare products, and this trend has also influenced the skin lightening product market. Many companies now offer products that are free from potentially harmful chemicals, such as hydroquinone, and instead use natural ingredients like kojic acid, vitamin C, and licorice root extract to help brighten and even out the skin tone.
Moreover, technological advancements and ongoing research have paved the way for innovative new products that cater to specific skin concerns. For example, some companies offer specialized products that target dark circles under the eyes, while others have developed formulations that help to reduce the appearance of age spots.
Top Player’s Company Profiles
- L'Oreal S.A.
- Unilever plc
- Beiersdorf AG
- Shiseido Company, Limited
- Johnson & Johnson Consumer Inc.
- Procter & Gamble Co.
- Estée Lauder Companies Inc.
- Clarins Group
- Kao Corporation
- Amorepacific Corporation
- Revlon Inc.
- Oriflame Holding AG
- Avon Products, Inc.
- Mary Kay Inc.
- Coty Inc.
- Lotus Herbals Limited
- Natura & Co Holding SA
- Merck KGaA
- Bajaj Corp Ltd.
- VLCC Health Care Limited
Recent Developments
- In December 2023, Univar Solutions Inc., a leading global solutions provider to users of specialty ingredients and chemicals, forged an exclusive distribution agreement with ImDerma Laboratories, Co. Ltd. in the United States. James Peterson, global VP of beauty and personal care for Univar Solutions said that beauty brands can differentiate themselves in the market by providing products that contain unique cosmetic actives, which bring many benefits to consumers, such as anti-aging, anti-inflammatory, antioxidant, skin brightening, and lightening properties.
- In February 2023, the governments of Gabon, Jamaica and Sri Lanka launched a $14-million project to eliminate the use of mercury in skin-lightening products.
- In February 2023, The Minamata Convention is a global agreement that has established a maximum allowable limit of one milligram of mercury per kilogram in skin lightening products. According to a 2018 study conducted by UNEP, which tested 300 products from 22 countries, approximately 10 percent of these products exceeded the allowable limit. Many of these products contained up to 100 times the authorized amount of mercury, which is a cause for concern.
Global Skin Lightening Products Key Market Trends
- Companies in the skin-lightening products market are becoming more inclusive and promoting diversity in their marketing campaigns, due to the rise of the body positivity movement. This has resulted in the development of skin lightening products that cater to different skin types and tones, thus accommodating the needs of a wider range of consumers.
Global Skin Lightening Products Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
After conducting a thorough analysis of the global skin lightening products market, it is expected to experience significant growth during the forecast period due to the numerous benefits it offers. These benefits include the ability to address various skin concerns such as hyperpigmentation, acne, scars, and age spots. The skin-lightening products market has diverse product offerings, and continuous innovation, and has also helped to create employment opportunities in developing nations. Additionally, the market is growing due to the impact of media and advertising, which shapes societal preferences for skin tone. Promotions featuring celebrities with fairer skin tones have contributed to the notion that lighter skin is more attractive, thereby driving demand for skin lightening products.
However, the growth of the skin-lightening products market is limited by health concerns, as certain chemicals in these products can have adverse effects on the skin such as irritation, allergies, and even skin cancer.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.56 billion |
| Market size value in 2031 | USD 17.26 billion |
| Growth Rate | 5.61% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Skin Lightening Products Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Skin Lightening Products Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Skin Lightening Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Skin Lightening Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Skin Lightening Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Skin Lightening Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Skin Lightening Products Market Report Snapshots
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