Global Skin Lightening Products Market expected to reach approximately USD 8,895 million by 2024, at a CAGR of slightly above 6.5% between 2018 and 2024
NEW YORK, NEW YORK, UNITED STATES, February 19, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Skin Lightening Products Market by Type (Lotion and Cream, Foam, Gel, Serum & Toner, Scrub, and Others), by End-User (Men and Women), by Nature (Natural/Herbal, Synthetic, and Organic), and by Distribution Channel (Pharmacy, Specialty Outlet, Supermarket/Hypermarket, Convenience Store, Beauty Salon, E-Retailer, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global skin lightening products market was valued at around USD 4,075 million in 2017 and is expected to reach approximately USD 8,895 million by 2024, at a CAGR of slightly above 6.5% between 2018 and 2024.
Skin lightening products involve the use of synthetic or natural ingredients to lighten skin tone or decrease the skin’s melanin content, to leave an even skin tone. Various lightening agents help to achieve an even skin tone by diminishing skin pigmentation. Some skin lightening products also offer anti-aging properties.
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The major factor that is driving the growth of the skin lightening products market is increasing consumer consciousness regarding their physical appearance. Skin lightening lotions and creams are the fastest selling product type in the skin lightening products market, owing to their easy availability. Moreover, lifestyle changes coupled with increasing disposable income is also likely to boost the skin lightening products market in the years ahead. Alternatively, an increase in the number of multi-brand specialty stores is also a major trend that is anticipated to support the skin lightening products market globally in the future. Personal health and beauty stores have been traditionally the most preferred distribution channels for cosmetic and skincare products, such as skin whitening/lightening products and anti-aging products. However, favorable government regulations are negatively affecting the product demand, which might restrain the skin lightening products market in the years ahead. On the other hand, the popularity of skin whitening products among both the genders is expected to create lucrative opportunities for the key players operating in the global skin lightening products market globally.
The global skin lightening products market is segmented based on type, end-user, nature, and distribution channel. By type, the market is segmented into lotion and cream, foam, gel, serum and toner, scrub, and others. The end-user segment includes men and women. By nature, the market is segmented into natural/herbal, synthetic, and organic. The natural/herbal segment is likely to dominate the global skin lightening products market in the future, owing to the huge demand for organic materials by the end-users. By distribution channel, the market is segmented into the pharmacy, specialty outlet, supermarket/hypermarket, convenience store, beauty salon, e-retailer, and others.
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By region, the global skin lightening products market includes Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region held a significant share of the skin lightening products market in terms of volume during 2017, owing to the growing use of skin lightening products in the developing regions, such as China, India, etc. The North American skin lightening products market is likely to witness noteworthy growth over the predicted time period.
Some major players operating in the global skin lightening products market include L’Oreal S.A., Beiersdorf AG, Unilever PLC, Procter & Gamble Company, Shiseido Company, Estée Lauder Companies Inc., Avon Products, Inc., VLCC Health Care Limited, Lotus Herbals Private Limited, and Clarins Group, among others.
This report segments the global skin lightening products market into:
Skin Lightening Products Market: Type Analysis
Lotion and Cream
Serum and Toner
Skin Lightening Products Market: End-User Analysis
Skin Lightening Products Market: Nature Analysis
Skin Lightening Products Market: Distribution Channel Analysis
Skin Lightening Products Market: Regional Analysis
The Middle East and Africa
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Source: EIN Presswire