Skin Lightening Products Market Research, 2031
The global skin lightening products market was valued at $7.05 billion in 2021, and is projected to reach $14.60 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031. Products for skin lightening, commonly referred to as bleaching creams, whiteners, skin brighteners, or fading creams, function by lessening a pigment in the skin called melanin. The majority of people use lighteners as a remedy skin for issues including age spots, acne scars, or hormonally-related discoloration. In addition, it is a method for whitening naturally dark skin.
The rise in self-consciousness about physical appearance among individuals and working-class professionals drives the growth of the skin lightening products market. The use of natural ingredients in skin lightening products such as aloe vera, tea, and black sugar reduces the harmful effects of products, which drives skin lightening products market demand.
Apart from women, there has been rise in use of various skin care products such as night creams and skin brightening products by men in their daily routines, which propels growth of the global skin lightening products market size.
The global adoption of the internet has resulted in an increase in the number of social media users. As a result, the majority of key players in the skin lightening products market strategize to promote their products and services through social media platforms.
Social media marketing is one of the most important strategies used by businesses and industries to raise awareness of their product offerings among target customers. Thereby, growing popularity for e-commerce and digital promotion of the products are likely to contribute for the growth of the skin lightening products market during the forecast period.
According to the skin lightening products market analysis, the skin lightening products market is segmented into product, gender, distribution channel and region. By type, it is segregated into creams & lotions, cleansers & toners, masks and others. On the basis of gender, the market is categorized into men and women.
By distribution channel, it is segregated into hypermarkets/supermarkets, specialty stores, pharma & drug stores, online sales channel and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia and Rest of LAMEA).
According to the skin lightening products market trends, on the basis of product, the creams & lotions segment was the highest contributor to the market in 2021, and is estimated to reach $6,225.0 million by 2031, at a CAGR of %during the forecast period. Increased demand for face creams, sunscreens, and body lotions with skin glowing and brightening feature around the world is expected to boost market growth over the forecast period.
Increasing awareness of skin into society and desire of having glowing and smooth skin will bring lot of growth into the market of skin lightening lotions and creams. The booming e-commerce sector especially in skin care category is expected to drive skin lightening products market growth even further.
According to the skin lightening products market analysis, on the basis of gender, women segment was the highest contributor to the market and is estimated to reach $10,671.9 million by 2031, at a CAGR of 7.4% during the forecast period. The convergence of advancements, beauty, and lifestyle is propelling the skin lightening products market forward.
Furthermore, the global market has grown steadily over the years, owing to an increase in beauty consciousness among women. Several other factors, such as an increase in women's labor force participation, increased awareness about the importance of maintaining long-term beauty, and changes in lifestyle, have significantly increased demand for skin care products, which in turn boost the growth of the skin lightening products market during the forecast period.
According to distribution channel, the online sales channel segment was the significant contributor to the market, with $793.1 million in 2021 and is expected grow at a CAGR of 10.2% during the forecast period. An online platform is a popular way to purchase various skin care products including night creams, anti-wrinkle and skin lightening products.
Increased penetration of various online portals in emerging economies including China and India as well as an increase in the number of offers or discounts, help convince a large consumer base to buy skin lightening products through online channels. Furthermore, the online sales channel has increased consumer reach, and as a result, it has evolved as a key source of revenue for many businesses.
According to the skin lightening products market opportunities, region wise, North America garnered the major skin lightening products market share in 2021, and is expected to maintain its market share throughout skin lightening products market forecast period.
The increased demand for skincare products in Europe is due to lifestyle changes, a shift toward organic alternatives, and a greater willingness to try new skin care products. Skin care products are an important part of the European culture. Thus, above factors are likely to favor the growth of the skin lightening products during the forecast period.
The players operating in the global skin lightening products industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market.
The key players profiled in this report Avon Products, Inc., Kao Corporation, L’Oréal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company, Limited, Skin Food Co., Ltd., The Estée Lauder Companies Inc., The Procter& Gamble Company and Unilever Plc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the skin lightening products market analysis from 2021 to 2031 to identify the prevailing skin lightening products market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the skin lightening products market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global skin lightening products market trends, key players, market segments, application areas, and market growth strategies.
Skin Lightening Products Market Report Highlights
| Aspects | Details |
 By Distribution Channel |
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 By Product |
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 By Gender |
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 By Region |
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 Key Market Players | L’ORÉAL S.A., THE ESTEE LAUDER COMPANIES INC, Lotus Herbals Pvt. Ltd., THE PROCTER& GAMBLE COMPANY, SHISEIDO COMPANY, LIMITED, AVON PRODUCTS, INC, ORIFLAME COSMETICS S.A., REVLON, INC., UNILEVER PLC, KAO CORPORATION |
Analyst Review
Top CXOs believe that innovation is essential for the skin lightening products market to expand in terms of value sales. The increase in consumer demand for different skin care products has given producers the opportunity to create herbal or organic skin care products with reasonable prices and eco-friendly packaging. CXOs went on to say that the market for skin lightening products has grown as a result of people's increased awareness of their looks, particularly working-class professionals. Recently, the industry has noticed a growth in trend of males using skin care products on a daily basis.
Men's use of skin care products is anticipated to gradually rise, which is expected to support the expansion of the global market for skin lightening goods. Moreover, lightening products have witnessed prominent adoption in the developing countries such as India, owing to swift change in consumer lifestyle, increase in disposable income, and surge in need for skin care products including skin lightening products derived from natural extracts. Rise in awareness regarding the benefits of the skin lightening products such as minimizing skin discoloration, reducing the appearance of acne scars, and an even out skin tone are expected to propel the growth of the skin lightening products market during the forecast period. Furthermore, surge in penetration of various online portals globally and rise in number of offers or discounts attract large consumer base to purchase skin care products through online channels. Online sales channels have increased consumer reach, making them key sources of revenue for many companies.
According to Food and Drug Administration (FDA), OTC skin bleaching products are not acknowledged as being secure and efficient. An evaluation of the available data led to the conclusion that the items were not safe for human use. Numbness, high blood pressure, fatigue, sensitivity to light, neurological symptoms, such as tremor, memory loss, and irritability are some of the hazardous side effects of mercury based skin lightening products, which are likely to hinder the growth of the market during the forecast period.
The skin lightening products market size was valued at $7,054.3 million in 2021.
Creams and Lotions is the leading application of Skin Lightening Products Market.
Asia-Pacific is the largest regional market for skin lightening products.
$14,602.4 million is estimated industry size of skin lightening products.
Avon Products, Inc., Kao Corporation, L’Oréal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company, Limited, Skin Food Co., Ltd., The Estée Lauder Companies Inc., The Procter& Gamble Company and Unilever Plc are some of the top companies to hold the market share in skin lightening products.
7.7% is the CAGR of Skin lightening products market.
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2022-2031 is the forecast period in the market report.
The market is segmented on the basis of product, gender, distribution channel and region.
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