Skin Lightening Products Industry Overview
The global skin lightening products market is expected to reach USD 16.14 billion by 2030, registering a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing preference for fair skin to enhance beauty and confidence among consumers is expected to drive global market growth. Furthermore, the rising adoption of skincare regimes to achieve an even skin tone, blemish-free skin, and reduced acne spots is expected to propel the market growth during the forecast period.
Skin Lightening Products Market Segmentation
Grand View Research has segmented the skin lightening products market based on product, nature, and region.
Based on the Product Insights, the market is segmented into Creams, Cleanser, Mask, Others.
- Creams segment held the largest market share in 2021. Easy and effective penetration of cream in the skin attributes to its increased usage among consumers.
- The product range includes Resurfacing Micro Polish, Illuminating Serum, and Gel Cream. The ingredient formulation claims to boast a surface skin renewal process of 10 times which helps to achieve a smoother, brighter, and even tone.
- The cleanser segment is projected to register the fastest growth during the forecast period with a CAGR of 6.1% from 2022 to 2030.
- Owing to its multi-functional benefits such as lightening discoloration, lessening pigmentation, and eliminating blemishes, all of which would further help in gaining traction amongst consumers.
- The product contains active natural ingredients such as mulberry and liquorice extracts which helps in deep cleansing, moisturizing, reducing tanning and improving skin complexion and texture.
Based on the Nature Insights, the market is segmented into Synthetic, Natural, Organic.
- Synthetic segment led the market and accounted for the largest market share in 2021. Chemical ingredients to de-pigment the skin are widely used in dermatology and cosmetics, which is also driving their usage in conventional products. Some of the chemicals used in these products include hydroquinone, retinoids, glycolic acid, and azelaic acid.
- These chemical ingredients help speed up the process of lightening owing to their strong effect on the skin. Although, the prolonged usage of such chemicals could pose a risk to the health of the skin.
- Natural segment is expected to expand at the fastest CAGR of 6.2% in the forecast period due to the increasing demand for chemical-free products. The shifting preference of consumers from synthetic to natural products owing to their considerable benefits with no side effects.
Skin Lightening Products Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The skin lightening products market is competitive with the presence of many global and regional players. These players are engaging in major acquisition, product launches, and promotional activities to increase their customer base and brand loyalty.
Some prominent players in the global skin lightening products market include
- L’Oréal S.A.
- Beiersdorf AG
- Shiseido Co., Ltd.
- Procter & Gamble
- Himalaya Global Holdings Ltd.
- Kanebo Cosmetics Inc.
- Lotus Herbals Pvt. Ltd.
- VLCC Health Care Limited
- Avon Products, Inc.
Order a free sample PDF of the Skin Lightening Products Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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