Whitening Foundation: Introduction
- Skin whitening foundation is a product that helps to lighten skin color and provide an even skin tone by reducing the melanin concentration in the skin and cover blemishes and spots.
- Foundation comes in various shades and gives solutions to cover skin problems such as acne spots, gash, and pigmentation. The rise in social media trends with people striving to have fair and flawless skin, especially people in Asian and African countries, is expected to help in the growth of the whitening foundation market during the forecast period.
Key Drivers and Opportunities of the Whitening Foundation Market
- One of the key factors driving the whitening foundation market is increasing internet penetration, urbanization, growing population, disposable income, changing lifestyles, and rising fashion trends. Also, increasing marketing campaigns, brand loyalty, e-commerce business, and the introduction of premium & luxurious products are expected to drive the whitening foundation market during the forecast period. Enduring discrimination toward dark-skinned people in many parts of the world has influenced both males and females to invest in such products.
- A broad range of agents such as hydroquinone, mercury-based products, and steroids present in skin whitening foundation can harm strands in the skin, causing premature aging and weakening of skin, increases the risk of infection, rashes and boils, and is an impediment to the growth of the whitening foundation market.
- Except for life support products and medical supplies, most industries have been markedly affected by COVID-19. Despite a serious economic decline, an increase in online sales and huge discounts on high-value skincare products is expected to help the whitening foundation market to reboot. Manufacturers focusing on regional requirements, different needs of consumers, incorporating natural ingredients in products, coupled with advanced technologies is further expected to fuel the whitening foundation market during the forecast period.
Asia Pacific to Hold Major Share of the Whitening Foundation Market
- In terms of region, the whitening foundation market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is the dominant market in the world for whitening foundation. One of the major factors accelerating the growth of the market in this region is the changing trend toward pale and fair skin in Asian countries as a matter of beauty and social status, which has increased the prominence of whitening foundation products in this region.
Key Players Operating in the Whitening Foundation Market are Listed Below:
- Amorepacific Corporation
- Estée Lauder
- Johnson & Johnson
- Kao Corporation
- KIKO Cosmetics Retail Pvt. Ltd.
- KOSÉ Corporation
- Laura Mercier
- L’Oreal Paris
- Revlon, Inc.
- Shiseido Company, Limited
- Walgreens Boots Alliance, Inc.
Whitening Foundation Market: Research Scope
Whitening Foundation Market by Product Type
- Compact Foundation
- Liquid Foundation
- Foundation Cream
Whitening Foundation Market, by Material
Whitening Foundation Market, by Price
- Up to US$ 5
- US$ 5 to US$ 20
- Above US$ 20
Whitening Foundation Market, by End-user
- Beauty Salons
- Makeup Artists
Whitening Foundation Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Brand Stores
- Hypermarkets & Supermarkets
- Specialty stores
- Retail Stores
Whitening Foundation Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South America
- Middle East & Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.