Skin lightening is a practice followed in many ethnic cultures, and is defined as the procedure of using natural or synthetic products to lighten the skin tone, or provide an even skin complexion by reducing the melanin content in the skin. The therapeutic area of skin whitening/lightening covers lightening agents that help diminish skin pigmentation to obtain a uniform skin complexion. Skin whitening products are largely popular in Asian countries including China, India, Japan, Korea, Indonesia, and other Asian countries. A new research report by Future Market Insights titled ‘Skin Lightening Products Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’provides a complete analysis of the global skin lightening products market for a period of 10 years.
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The analysis indicates that the skincare products category continues to witness significant growth, as a large number of customers are becoming aware and are willing to spend more on skincare products. The global skin lightening products market is witnessing a surge with the growing consciousness among people regarding their appearance. However, the market may face limitations in its growth due to lack of documented evidence pertaining to the clinical efficacy of skin lightening products. According to the report, the global skin lightening products market is expected to reach a valuation of over US$ 24 Bn by the end of 2027, growing at a CAGR of 6.1% during the forecast period.
Global Skin Lightening Products Market: Segmental Highlights
- On the basis of region, APEJ is the most lucrative regional market for skin lightening products. The APEJ market is expected to reach a market valuation of over US$ 5,900 Mn in 2017 and this is estimated to increase to more than US$ 11,000 Mn by 2027. However the analysis indicates that the skin lightening products market in Japan is also emerging as a lucrative segment with the highest growth rate during the forecast period.
- On the basis of product type, the lotion and cream segment dominates the market currently with a great margin and is expected to reach a value of over US$ 8,900 Mn by the end of 2027. However, the serum and toner segment is expected to register the highest growth rate of 6.8% during the forecast period.
- On the basis of end use, the women segment has a much higher market share and is estimated to reach a valuation of about US$ 19 Bn by the end of 2027
- By nature, the synthetic segment is expected to lead the market with a higher market share and will likely reach a market valuation of more than US$ 10 Bn by 2027. However, the natural/herbal segment is expected to grow at a higher rate than other segments
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Global Skin Lightening Products Market: Competitive Analysis
This comprehensive research report includes a brief profile of all the major players of the market. Some of the key players mentioned in the report are L’Oréal S.A., Beiersdorf AG, Unilever PLC, Procter & Gamble Company, Shiseido Company, Avon Products Inc., VLCC Health Care Limited, Lotus Herbals Private Limited, Clarins Group, Himalaya Global Holdings Limited, Kaya Limited, Kanebo Cosmetics Inc., RichFeel Hair & Beauty Pvt. Ltd., Eveline Cosmetics, Rozgé Cosmeceutical, Bio Veda Action Research Private Limited, Civant LLC etc.