Self-Consciousness Concerning Physical Appearance Spurs Rapid Growth in Skin-Lightening Industry, says Market.us

Many skin-lightening products have many benefits, including lightening pigmentation, and discoloration, improving skin tone and eliminating any blemishes. Consumers are more inclined to seek out specific solutions for skin issues such as acne spots or age spots. This has led to a rise in the popularity of skin lighteners on the market.

According to Market.us, “The Skin Lightening Products Market is projected to reach a valuation of USD 16.88 Billion by 2032 at a CAGR of 5.5%, from USD 9.88 Billion in 2021.”

In 2021, Asia Pacific held the largest share of skin-lightening products in the world at 54.8%. To maximize customer penetration, major regional players have adopted a variety of strategies. L’Oreal SA, which is a Japanese company, signed an agreement in December 2020 to buy Takami Co. Takami Whitening Cream, SPF45, can be used on any part of the body. The acquisition was made to increase the customer base, product penetration, and visibility for both brands. These expansion efforts by top players will help boost the market over the forecast period.

Anurag Sharma, a senior research analyst at Market.us, said, “The skin-lightening market is growing because of rising self-consciousness among working-class professionals and individuals about their physical appearance. Demand for skin-lightening products is driven by the use of natural ingredients such as tea, aloe vera, and black sugar. This reduces their harmful effects.”

COVID-19’s success has led to a shift in consumer preferences. They are actively looking for active and functional skin products. This will drive market growth over the forecast period. Manufacturers are creating products to meet changing consumer needs. Shiseido Co., Ltd., a Japanese cosmetics company, launched Anessa, a multifunctional sunscreen, in June 2021. It contains 50% of skincare ingredients, including m–tranexamic, which is a brightening agent that suppresses melanin production.

There will be new opportunities for organic and natural-derived raw materials and products as consumers become more aware of the dangers of synthetic chemicals. Some of the most important raw ingredients for skin-lightening products are organically- or naturally-grown products like aloe vera and sea kelp. Petitcomo, a Korean cosmetic brand, introduced two new lightening sheet masks in July 2019. They are Aqua Mask White and Ampoule Mask Black Edition. These masks contain natural ingredients that improve the skin’s tone.

Consumers are now more conscious of the importance of self-care and have started to create simple skincare routines at home that can help them relax. This is driving demand for active ingredients with lightening and brightening properties. Vasu Healthcare, for instance, launched ROSE and GOLD, a premium range that brightens the skin in November 2021. This product line includes a face serum, face wash, and face cream. It is available at Amazon, Flipkart and the Vasu Store www.vasustore.com.

To increase product effectiveness, companies are investing in continuous research to develop skin-lightening products with advanced technology. Cellif Microbalm was introduced by Dr. Raymond Laboratories Inc. in 2019. This capsule balm features microcapsule technology and helps to restore a natural glow. Six key components are included in each microcapsule: shea butter for intense moisturizing; vitamin tree oil and olive oil to increase skin’s vitality; rosewater, to soothe and moisturize; natural ceramide; and, peptides to improve the texture.

The market’s growth may be hindered by the increasing controversy surrounding skin-lightening products. Unilever’s skin-lightening cream Fair & Lovely was renamed in July 2020. This was due to criticisms it received for using racial stereotypes in its branding. The word “fair” was dropped from the company’s product name, and it was replaced by “Glow & Lovely”. Johnson & Johnson also retreated from the skin-whitening business. This included the Neutrogena Fine Fairness product line in Asia and the Middle East and the Clean & Clear Fairness product in India.

The trend for online shopping in beauty and cosmetics is new. While the top 20 companies still prefer traditional channels like supermarkets and retail shops, millennials are changing their minds and want everything at their fingertips.

In 2021, for example, the US spent approximately US$ 14 Bn online on cosmetics and beauty products. Online sales have grown due to its diverse product range and wide selection of brands.