According to a new report by Grand View Research, Inc., it is expected that by 2025 the global market for skin lightening will reach 13.7 billion U.S. dollars, an increase on average of 7.4% during the forecast period.
Experts note that growing consumer awareness about the benefits of the products for skin lightening, is one of the main factors of market growth. In particular:
• it is expected that the global market will grow as consumer preferences toward lighter skin increase;
• products for skin lightening meet the specific requirements of clients associated with pigmentation, spots, acne and other dermatological problems;
• analysts note that the growing consumption market in the forecast period will increase due to the fact that consumers are increasingly using skin care that includes means for lightening to get even tone, no spots, and also reduce the signs of skin damage from acne.
Based on data from market analysis by geographic regions, it should be noted that in Asian and African countries, there has been a shift towards light skin. Consumers in Korea are considering such products as fountain of youth. In countries such as China, Japan and the Philippines light leather means appeal, which increases the chances of consumers for a successful marriage, being an important factor in increasing the growth of sales of whitening cosmetics.
However, such tools are not only popular among women. Actively developing trend of skin care among consumers, male sex in Asia and the Middle East. For example, Oriflame Cosmetics AG complements its male cosmetic brand North for Men cream for skin lightening, which is available for sale in all regions.
In addition, analysts at Grand View Research, Inc noted other trends in the development of this market segment in the beauty industry for the next 5 years.
• Creams dominated the world market of products for skin lightening in 2018 due to the wide daily use of these products.
• The pace of sales natural remedies for skin lightening will grow the fastest, increasing by 8.1% from 2019 to 2025.
• In 2018 the Asia-Pacific region has taken a leading position in the market and is expected to be an example of the rapid growth from 2019 to 2025.
• Key industry players in the world market of products for skin lightening are L’oréal S. A., Beiersdorf, Shiseido Company, Himalaya Global Holdings Limited, Kanebo Cosmetics Inc., The Procter & Gamble Company and Unilever PLC.