Published: Mar, 2018
In a recently generated report, Transparency Market Research (TMR) states that the global night creams market is expected to record a CAGR of 5.6% during the forecast period. In 2017, the market was valued at more than US$ 6,500 Mn. Product innovation, launches, and strategic acquisitions are some of the recent trends adopted by the market players. For instance, a leading luxury brand, La Prairie has recently launched Platinum Rare Cellular Night Elixir Rejuvenating Night Concentrate, which is an effective skin care product. Through the launch of this expensive product, the company is targeting customers who prefer spending on luxurious products.
In addition, Unilever has announced its acquisition of Schmidt’s Natural, an ore-based personal care company. These companies are focusing on offering natural products accessible to all the customers and transparency through this collaboration. Increasing number of product launches and acquisitions among the market players is expected to impact growth of the global market significantly. Avon, Unilever, Revlon, Beiersdorf, P&G, L’Oreal, Clinique, Estee Lauder, Lancome, and Shiseido are the key companies in the global market.
Moisturizing Skin Care Solutions to Boost Demand
Exposure of skin to extreme weather conditions such as winters and summers can lead to various dermal issues such as excessive dryness, rashes, and skin irritation. For effective maintenance of the skin health, individuals prefer spending on a range of night creams products. In order to offer effective results, manufacturers are offering skin care products specific to the skin type of the customers. Also, manufacturers are developing products central to the skin requirements in various climatic conditions.
As the skin tends to become dry and dull throughout the day, individuals prefer spending on skin moisturizing products. With the increasing demand for skin moisturizers, manufacturers are focusing on developing night creams products that offer moisturizing benefits along with skin damage repair solutions. Leading firms are concentrating on developing products central to the skin care requirements of the customers to remain on the forefront of the global market.
Shift Towards Organic Night Cream Products to Remain a Major Trend
With the growing demand for anti-aging solutions among individuals, leading manufacturers are focusing on utilizing synthetic ingredients such as parabeans and retinol. Manufacturers are increasingly utilizing synthetic products to offer effective anti-aging solutions and product preservation. However, increasing instances of side effects such as rashes and skin irritation has led to individuals to prefer purchasing natural & organic night cream products. To meet the growing skin requirements of the customers, manufacturers are also utilizing natural and organic ingredients for developing health benefiting skin care products.
Moisturizing Cream Products to Represent a Leading Segment
Growing need for skin damage repair solutions has led to surge in demand for effective night moisturizing cream products. Moisturizing cream products are expected to witness the highest revenue growth, accounting for a value of over US$ 3,900 Mn by the end of 2026. To improve their position in the global market, leading firms are targeting masses and focusing on offering products at reasonable price. Throughout 2026, mass price is expected to generate significant revenues, representing a value of over US$ 7,900 Mn.
With the growing demand for effective anti-aging skin care solutions, leading manufacturers are focusing on utilizing synthetic ingredients. In terms of revenue, synthetic products source is expected to register a robust revenue growth, accounting for more than US$ 7,600 Mn by the end of 2026. Through 2026, sales of these products is expected to remain high through the modern trade sales channel, generating revenues worth more than US$ 2,800 Mn.
APEJ will continue to represent a leading market globally. By the end of 2026, APEJ is expected to record the highest revenue growth, recording a value of more than US$ 3,900 Mn. In addition, the market in APEJ is projected to witness the fastest growth throughout the forecast period.
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