Skin Whitening Products Market Size was valued at USD 8.2 Billion in 2022. The Skin Whitening Products Market industry is projected to grow from USD 8.6 Billion in 2023 to USD 13.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2032). The rising inclination of consumers toward a specific solution to different skin problems, such as age spot or acne spot reduction is expected to be a significant market driver for the Skin Whitening Products Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Skin Whitening Products is being driven by the growing awareness regarding skin health benefits and the aging population. According to data from the European Academy of Dermatology and Venereology (EADV) in 2020, nearly 47.9% of Europeans aged 18 and above experienced at least one dermatological condition related to skin disorders. A survey by the National Library of Medicine, National Centre for Biotechnology Information (NCBI), in 2021 revealed that around half of Koreans, Malaysians, and Filipinos preferred some form of skin-lightening treatment to address skin pigmentation issues. Additionally, to prevent such concerns, approximately 77% of Nigerian women regularly use skin whitening products. The aging population is facing challenges like skin wrinkles and redness due to poor skin conditions, contributing to a growing demand for skin whitening products ly. According to World Bank Group data, the population aged 65 and above increased from 9.10% in 2019 to 9.32% in 2020.
Moreover, the increasing consumer preference for face whitening cosmetics made from sustainably sourced ingredients, such as orange & honey extract, papaya & oatmeal, offers new growth opportunities. In 2019, the Soil Association, a British charity association, reported that total sales of organic and natural beauty products in the U.K. reached USD 145.22 million, marking a 23% increase from the previous year.
As a result, it is anticipated that throughout the projection period, demand for the Skin Whitening Products Market will increase due to the growing awareness regarding skin health benefits and the aging population. Thus, driving the Skin Whitening Products Market revenue.
The Skin Whitening Products Market segmentation, based on Product Form includes Creams, Lotions, Gels, and Others. The Creams segment dominated the market, accounting for 58% of market revenue (4.7 Billion). Fundamentally, a cream is a combination of oil and water, constituting a specific type of emulsion with distinct oil and water phases. Creams are formulated to deliver moisturizing and soothing effects on the skin, imparting a smooth and desirable texture. Numerous brands in the market provide a range of skin-lightening products based on cream formulations. Additionally, skin-lightening creams may incorporate various other ingredients to offer additional benefits such as sun protection, anti-aging properties, and reduced pigmentation. The growth of this segment is further propelled by the affordability and widespread accessibility of cream-based skincare solutions.
Figure 1: Skin Whitening Products Market, by Product Form, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Skin Whitening Products Market segmentation, based on Material Type includes Synthetic and Natural. The Synthetic segment dominated the market, accounting for 58% of market revenue. The synthetic segment is poised to command a substantial market share, driven by the superior and immediate skincare advantages offered by skin whitening products formulated with synthetic materials like retinoid, hydroquinone, and glycolic acid, among others. The adoption of synthetic material-based cosmetics is on the rise, particularly in spa clinics and hospitals. This escalating consumer preference for skincare treatments across diverse settings, including spa clinics and skincare specialty clinics, augurs well for the revenue growth of this segment. Moreover, the heightened durability and cost-effectiveness of such products are expected to further stimulate consumer demand.
The Skin Whitening Products Market segmentation, based on End-User includes Men and women. The Women segment dominated the market, accounting for 58% of market revenue. Across various societies, a longstanding preference for lighter skin tones has prevailed, often tied to historical notions of class, privilege, and beauty. The cultural significance of fair skin is integral to the construction of feminine attractiveness, notably evident in sections of Africa's sub-Saharan region. Within this area, the practice of skin whitening has become deeply ingrained. Factors such as the growing influx of women into the workforce, an enhanced understanding of the importance of long-term beauty preservation and shifts in lifestyle choices collectively contribute to a notable surge in the demand for skin-lightening products.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Skin Whitening Products market in North America can be attributed to several key factors. The skin tone correction sector in the United States is experiencing a significant wave of innovation, driven by an increasing acknowledgment of diverse beauty standards and the growing significance of personalized skincare treatments. In 2022, U.S. beauty consumers have actively contributed to the industry's recovery from pandemic-related challenges. Seventy-five percent of female beauty buyers in the U.S. assert that beauty purchases have become equally or more important to them post-pandemic compared to the pre-pandemic period. The U.S. skin-lightening product market is marked by intense competition among numerous businesses, each offering a diverse range of products to cater to the varied demands of customers. Notably, Astaberry Biosciences introduced a whitening face wash in December 2019 aimed at enhancing skin tone.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SKIN WHITENING PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Skin Whitening Products Market accounts for the second-largest market share as The United Kingdom has witnessed a notable adoption of face brightening products, with both women and men embracing this trend to enhance their complexion, showcasing the diverse beauty preferences within the community. One such product gaining popularity is GlowLight, a skin whitening and lightening cream lotion manufactured in the UK, specifically targeting age-related dark spots. GlowLight promises users an illuminating effect on their skin, resulting in a radiant complexion. It's crucial to note that over-the-counter creams containing prohibited substances like hydroquinone, corticosteroids, or mercury are not allowed in the country. In response to these regulations, businesses, including industry giants like Unilever, are adjusting their product lines. This involves a shift away from the usage of terms such as "fair," "white," or "light" in packaging and communications to align with regulatory standards. Further, the German Skin Whitening Products Market held the largest market share, and the UK Skin Whitening Products Market was the fastest-growing market in the European region.
The Asia-Pacific Skin Whitening Products Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific region is poised to command a significant market share, driven by the substantial demand for skin care products among Chinese and Japanese consumers seeking skin whitening solutions. For instance, Shiseido Co. Ltd., a leading Japanese skin whitening products manufacturer, reported a noteworthy 7.5% increase in its overall sales revenues during the first quarter of 2021. Presently, companies are strategically expanding their brand presence to extend the reach of their products in the lucrative Indian and Chinese markets. These initiatives are anticipated to hasten the rate of product consumption in the region. As an illustration of this trend, in December 2019, Lotus Herbals Pvt Ltd broadened its brand portfolio with the introduction of the 'Lotus Organics+' brand in India. This brand encompasses skin-whitening products formulated with various ingredients, including cold-pressed oils, botanical extracts, and fresh and pure butter. Moreover, China’s Skin Whitening Products Market held the largest market share, and the Indian Skin Whitening Products Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Skin Whitening Products market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Skin Whitening Products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Skin Whitening Products industry to benefit clients and increase the market sector. In recent years, the Skin Whitening Products industry has offered some of the most significant advantages to the beauty and skincare sector. Major players in the Skin Whitening Products Market, including — L'Oreal S.A, Beiersdorf AG, Unilever Plc, Procter & Gamble Co., Shiseido Co., Ltd., Avon Products Inc., Himalaya Holdings Ltd., Estee Lauder Companies Inc., VLCC Health Care Limited, and Advanced Clinical are attempting to increase market demand by investing in research and development operations.
L'Oreal SA is a leading provider of personal care products, offering a diverse range that includes makeup, perfumes, hair care, sun care, skin care, and coloring products. The company boasts a portfolio of well-known brands such as Lancome, Giorgio Armani, Yves Saint Laurent, Biotherm, Kiehl's, Helena Rubinstein, Clarisonic, Yue Sai, Maybelline New York, Redken, Kerastase, and Matrix. L'Oreal distributes its products through an extensive network that includes hair salons, mass-market retail outlets, perfumeries, department stores, pharmacies, drugstores, medispas, branded retail locations, and travel retail. Additionally, the company has a significant online presence, selling its products through e-commerce platforms. With a footprint spanning North America, Latin America, Europe, Asia-Pacific, Africa, and the Middle East, L'Oreal is headquartered in Clichy, Ile De France, France. In 2021, L'Oreal expanded its portfolio through the acquisition of the skincare brand Theyers Natural Remedies, a U.S.-based company. This strategic move is anticipated to enhance L'Oreal's customer base by integrating the acquired brand into its customer product division.
Procter & Gamble Co (P&G) is a prominent manufacturer and marketer of fast-moving consumer goods, offering a diverse product portfolio that includes conditioners, shampoo, razors, toothbrushes, toothpaste, dishwashing liquids, detergents, surface cleaners, air fresheners, baby wipes, diapers, paper towels, tissues, and toilet paper. P&G's well-known brands include Head & Shoulders, Tide, Ariel, Olay, Pantene, Pampers, Gillette, Braun, and Fusion. The company distributes its products through various channels, including grocery stores, membership club stores, specialty beauty stores, high-frequency stores, online platforms, pharmacies, drug stores, and department stores. With a presence spanning Asia-Pacific, Europe, the Middle East, Africa, and the Americas, P&G is headquartered in Cincinnati, Ohio, USA. In March 2022, P&G Ventures reintroduced the Bodewell brand of skincare products, specifically formulated for individuals dealing with psoriasis and eczema. Bodewell aims to empower individuals to take control of their skin and face any skincare challenges with confidence.
Key companies in the Skin Whitening Products Market Include
Skin Whitening Products Industry Developments
February 2022: In February 2022, the medical professional skincare brand SkinCeuticals introduced the Phyto A+ Brightening Treatment. This addition to the Phyto portfolio, which already includes Phyto Corrective Gel and Phyto Corrective Masque, aims to provide consumers with a brighter complexion.
December 2021: In December 2021, Refresh Skin Science, a skincare brand under Visionary Skincare Pvt Ltd, was introduced to the Indian market. The product line encompasses toners, anti-aging serums, face serums, peeling solutions, and foaming cleansers tailored for brightening, anti-aging, dry and oily, pigmented, and acne-prone skin.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 8.2 Billion |
| Market Size 2023 | USD 8.6 Billion |
| Market Size 2032 | USD 13.85 Billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Form, Material type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | L'Oreal S.A, Beiersdorf AG, Unilever Plc, Procter & Gamble Co., Shiseido Co., Ltd., Avon Products Inc., Himalaya Holdings Ltd., Estee Lauder Companies Inc., VLCC Health Care Limited, and Advanced Clinical |
| Key Market Opportunities | The rising consumer awareness regarding the harmful effects of conventional, synthetic chemical-laden products |
| Key Market Dynamics | Influence of celebrities endorsing skin-lightening products |
Frequently Asked Questions (FAQ) :
The Skin Whitening Products Market size was valued at USD 8.2 Billion in 2022.
The Skin Whitening Products Market is projected to grow at a CAGR of 6.00% during the forecast period, 2023-2032.
North America had the largest share of the market.
The key players in the market are L'Oreal S.A, Beiersdorf AG, Unilever Plc, Procter & Gamble Co., Shiseido Co., Ltd., Avon Products Inc., Himalaya Holdings Ltd., Estee Lauder Companies Inc., VLCC Health Care Limited, and Advanced Clinical
The Creams segment dominated the market in 2022.
The Women segment had the largest share of the market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.ย
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