Skin Lightening Products Market Competition, Analysis, Value, Forecast to 2024
Based on product type, the global Skin Lightening Products Industry has been segmented into creams & lotions, cleansers & toners, face masks, scrubs, and others. Among the product type, creams & lotions are expected to account for the major market share in the global skin lightening products market throughout the forecast period.
The market of global skin lightening products has been divided based on category into conventional, and organic. Among the category, conventional segment is expected to account for the maximum market share in the global skin lightening products market and projected to witness a moderate growth rate during the forecast period. Economical pricing, and easy availability are the major factors for the rising growth for conventional skin lightening products market.
Based on end user, the global skin lightening products market has been segmented into men, and women. Women segment is estimated to account for the maximum market share in the global skin lightening products market.
Based on the distribution channel, the global skin lightening products market has been segmented into store-based, and non-store-based. Store-based distribution channel is estimated to hold significant market share both in developed and developing economies. Store-based distribution channel is further segmented into supermarkets & hypermarkets, specialty stores, and others. Among the store-based distribution channel, specialty stores segment is projected to witness high growth as compared to the other segments. Major manufacturers of skin lightening products are emphasizing to set up separate stores which cater only the skin lightening products. Moreover, renowned brands have increased their geographic presence through extensive distribution and offering premium skin lightening products in specialty outlets, thereby boosting the global market growth. However, non-store-based distribution channel is projected to expand at a high pace in the near future.
Some of the key players in the global skin lightening products market are L'Oréal SA (France), Beiersdorf AG (Germany), Unilever PLC (UK), Procter & Gamble Company (US), Shiseido Company (Japan), Estée Lauder Companies Inc. (US), Avon Products Inc. (UK), Kao Corporation (Japan), Lotus Herbals (India), and Clarins group (France).
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The global skin lightening products market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific region is expected to retain its dominance throughout the forecast period in the global skin lightening products market. Large population size in the countries of Asia-Pacific region is one of the major factors for the rising growth for skin lightening products in the Asia-Pacific region. Rise in disposable income of the consumers in the developing nations such as India, China, and Indonesia are expected to fuel the sales of skin lightening products during the forecast period. Among the Asia-Pacific, China and India have accounted for significant market share in the year of 2018 and the trend is expected to continue throughout the forecast period. Europe has accounted for approximately 20-30% market share in the global skin lightening products market. Germany and France are the major markets for skin lightening products in Europe.