Skin Lightening Products Market- In 2021, by gender, the women segment was valued at $5,285.3 million, accounting for 74.9% of the market share.
— Allied Market Research
WILMINGTON, DE, UNITED STATES, September 21, 2024 /EINPresswire.com/ — Change in lifestyle, surge in disposable income, rise in need for skin care products, increase in demand for natural ingredients in skin care products, and change in packaging styles & attractive marketing strategies drive the growth of the global skin lightening products market. However, rise in awareness regarding the side effects of chemical-based cosmetics and reduction in free trade between countries restrict the market growth. Moreover, increase in social media marketing present new opportunities in the coming years.
According to the report, the global skin lightening products market generated $7.05 billion in 2021, and is anticipated to generate $14.60 billion by 2031, witnessing a CAGR of 7.7% from 2022 to 2031.
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Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than half of the global skin lightening products market, and is expected to lead the trail throughout the forecast period. Moreover, the same region is expected to witness the fastest CAGR of 8.7% from 2022 to 2031. Rise in awareness regarding natural skin care products has led to the rise in demand for natural skin lightening products in Asia-Pacific. Increase in use of skin care products in countries such as India and China are major growth factors for the skin lightening products market in the region.
The women segment to maintain its leadership status throughout the forecast period
Based on gender, the women segment held the highest market share in 2021, accounting for nearly three-fourths of the global skin lightening products market, and is estimated to maintain its leadership status throughout the forecast period, owing to the rise in beauty-conscious female population. However, the men segment is projected to manifest the highest CAGR of 8.5% from 2022 to 2031. With increase in per capita income and rise in purchasing power, male consumers globally have become more conscious regarding skin care products, which leads to rapid growth of the global product market.
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The creams and lotions segment to maintain its leadership status throughout the forecast period
Based on product, the creams and lotions segment held the highest market share in 2021, accounting for nearly half of the global skin lightening products market, and is estimated to maintain its leadership status throughout the forecast period. People face skin problems in day to day life so there are a huge number of creams and lotions available in the market. It is seen that people often choose creams and lotion over other products as they contain skin lightening feature. However, the cleansers and toners segment is projected to manifest the highest CAGR of 9.0% from 2022 to 2031, owing to its wide usage in removing makeup without any harm to the skin.
Key findings of the study
The skin lightening products market size was valued at $7,054.3 million in 2020, and is estimated to reach $14,602.4 million by 2031, registering a CAGR of 7.7% from 2022 to 2031.
In 2021, on the basis of type, the masks segment acquired $898.9 million, exhibiting 12.7% of the global market share.
In 2021, by gender, the women segment was valued at $5,285.3 million, accounting for 74.9% of the market share.
In 2021, on the basis of distribution channel, the specialty store segment acquired $1,715.9 million, exhibiting 24.3% of the global market share.
China was the most prominent market in Asia-Pacific in 2021, and is projected to reach $2,400.4 million by 2031, growing at a CAGR of 6.8% during the forecast period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the skin lightening products market analysis from 2021 to 2031 to identify the prevailing skin lightening products market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the skin lightening products market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global skin lightening products market trends, key players, market segments, application areas, and market growth strategies.
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https://www.alliedmarketresearch.com/myanmar-skin-care-products-market-A06730
https://www.alliedmarketresearch.com/india-skin-care-products-market-A06651
David Correa
Allied Market Research
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