Most personal care products with skin whitening ingredients available in the market for unalterable skin lightening are formulated with synthetic ingredients. The global whitening ingredients market is primarily driven by increasing expectations to possess a lightened, blemish free and radiant skin tone. Moreover, consumers in the Western countries are aware of the effectiveness of ingredients formulated in personal care products; hence, products with added features are expected to boost growth of the market. Consumers are now more health and environment conscious, and products with all-natural ingredients are supposed to be more effective; hence, more growth is expected from natural specialty ingredients. In addition, innovations in formulating products with different types of plant extracts with added features are expected to drive the market growth. Furthermore, robust growth of retail products is anticipated to drive future market potential. The growth of plant extracts and developing opportunities in the West are projected to drive the market. Additionally, the quest to improve efficiency through research and development is expected to continue to meet the consumers’ need.
Healthy skin radiance and glow can be maintained by choosing herbal, plant extracts and various other natural ingredients. In developed markets such as Western Europe and North America, consumers prefer premium products, and this preference drives the growth of the natural whitening ingredients market. Furthermore, Consumers’ higher earning potential helps to provide additional revenue for expenses on premium products such as face cream and face masks among others.
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Phenolic-based ingredients are expected to hold major market share as a result of increasing and stable demand from the Asia-Pacific region. Moreover, phenolic compounds are the ingredients predominantly used in skin whitening personal care products as they are cheaper in cost and are easily absorbed into the skin. Non-phenolic compounds used in personal care products are arbutin, kojic acid, vitamin E, vitamin C, and niacinamide.
Global whitening ingredients market is segmented into chemistry type, end-product type and geography. Different types of ingredients are used in formulating personal care products, and each ingredient is functionally unique in action. The ingredients are majorly applied target skin whitening, skin lightening, and improved skin radiance Whitening ingredients are used in personal care products such as creams, lotions, gels, serums, face masks, bathing bar soaps, and bathing liquids. On the basis of end product type, the whitening ingredients market is bifurcated into skin whitening, teeth whitening among others.
Asia Pacific is the largest market for whitening ingredients and products, followed by Europe and North America. China is expected to experience highest growth rate in the coming years. Rising disposable income of middle class people and increasing consumer awareness towards ingredients in developing countries such as India, China is boosting the demand of personal care products with whitening ingredients market worldwide. Moreover growing inspiration to charming and look young among aging population of western countries is keeping the growth rate steady in North American and Europe market. Huge demand from regional markets such as India, China, the Middle East and Brazil are expected to drive the total demand for whitening ingredients over the forecast period. Huge investments towards research, innovation and technology have resulted in development of many new whitening ingredient based personnel care product in recent years.
Some of the key players operating in the whitening ingredients market are Beiersdorf AG (Germany), E. T. Browne Drug Company, Inc. (U.S.), Dabur India Limited (India), Company Limited (Japan), Clarins SA (France), CavinKare Pvt. Ltd. (India), Elder Health Care Ltd. (India), Jolen, Inc. (U.S.), Hindustan Unilever Ltd (India), Emami Limited (India), Kao Corporation (Japan), Shiseido Kanebo Cosmetics, Inc. (Japan), and the Procter & Gamble Company (U.S.) among others.