Global Skin Lightening Products Market: Overview

The global skin lightening products market is set to grow at a notable CAGR over the forecast period of 2020 to 2030, as per Transparency Market Research. Growing preference for fairer skin tones and its strengthening association with confidence and higher ideals is set to add to the market worth over the forecast period. A crop of untapped opportunities will also present itself to players operating in the global skin lightening products market over the stated period.

Global Skin Lightening Products Market: Notable Developments

Product innovation forms a major growth strategy for top players operating in the fragmented vendor landscape of global skin lightening products markets. Other growth measures are also being opted for to ensure a larger market share. Some of the notable developments that were noted in the market in the recent past as a result of these measures are:

2019: South Korean company called Petitcomo introduced sheet masks in the year. The two sheet masks have the purpose of lightening. These are called Aqua Mask White and Ampoule Mask Black Edition. It also has natural ingredients. This shows how significant it is to pick up on emerging trends and capitalize upon them through development of appropriate products, enduring better market share.

Some of the top players in the global skin lightening products market are:

  • L'Oréal S.A.
  • Beiersdorf AG
  • Shiseido Company
  • Himalaya Global Holdings Limited
  • Kanebo Cosmetics Inc.
  • Procter & Gamble Company
  • Unilever PLC
  • Lotus Herbals Private Limited
  • VLCC Health Care Limited
  • Avon Products Inc.

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Global Skin Lightening Products Market: Key Trends and Drivers

  • Demand for lighter and radiant skin is high across the world and particularly in tropical countries where lighter skin is idolized and people are putting in a lot effort to reach the western beauty ideals to look their best. Social media and advertisement are pushing young girls towards this in a major way, contributing to anticipated growth in the global skin lightening products market.
     
  • Increase in disposable income, especially in regions of the developing world, is a notable factor of growth in the global skin lightening products market. Additionally, advancement in technology and increasing research and development are propelling growth in the global skin lightening products market over the forecast period.

Global Skin Lightening Products Market: Regional Analysis

Over the last few years, the Asia Pacific (APAC) region topped the list of lucrative markets across the world with a massive share held by it in 2018. Increase in online channels for distribution of cosmetics products is one of the most notable factors of growth in the regional market. Other prominent ones include wider product availability and international brands entering the strong economies of the region to tap into an impressive potential. Additionally, as consumer in the region witness an increasing disposable income due to robust economic growth. Countries that contribute massively to the massive share of the region are Vietnam, Malaysia, Thailand, Japan, Indonesia, and China.

On the other hand, a strong compound annual growth rate would be charted over the forecast period by the North American region. Various factors that are driving growth in the market are growing preference for products that claim radiance and a notable level of disposable income.  Presence of strong players in the region such as FAIR AND FLAWLESS is also a notable contributor to growth.

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Skin Lightening Products Market