Skin Lighteners: A Global Strategic Business Report
San Jose, California (PRWEB) May 22, 2013
Follow us on LinkedIn – Skin whitening products represents one of the rapidly growing segments in the global beauty industry. With the concept of beauty in the 21st century revolving around a flawless and fair complexion, there is rising discrimination based on skin color, also known as Colourism. The scenario generates opportunities for products that capitalize on skin color discrimination such as skin whitening products, especially in regions like Asia, South America and Africa. The desire for fair and white skin is rooted in the culture and traditions of these countries and obsession for fair skin can be traced to almost all sections of the society. Although skin-whitening products were initially aimed at facial care, the trend has changed with companies offering products for overall skincare. Presently, the market comprises products that lighten skin on the face, armpits and feet. Also, the market is emerging from its traditional stronghold of women’s into the men’s segment. With personal grooming gaining significance among men, demand for male skin brightening and lightening products is on the rise, particularly in Asia.
Growth in the market is forecast to be driven by strong demand in Asia-Pacific. Popularity of skin whiteners is growing in Asia, particularly in India, Japan, and China, where fair skin is associated with youth, beauty, and prosperity. The market is also witnessing robust demand from Middle East. Strong economic growth, rising standards of living, expanding base of middle class population, increased per capita spends on beauty and wellness products, and growing discrimination based on color or skin tone are key factors driving growth in these regions. Skin lightening is a relatively smaller market in the West when compared to Asia. In the West, Skin Lighteners are primarily marketed as anti-aging products that are intended to deliver benefits such as reduction of freckles and spots. In countries such as the US and the UK, rising demand for skin whiteners is attributed to the increase in immigration and the resulting expansion in the base of ethnic groups.
Driven by consumer demand for safe products with superior effectiveness, the skin lightening market is witnessing several advances in ingredient formulations. Given the numerous side effects associated with the use of conventional, cheaper skin lightening ingredients such as hydroquinone or mercury, manufacturers are focusing on developing natural options that can deliver similar results. Use of hydroquinone or mercury in skincare products is banned in several countries including the UK.
As stated by the new market research report on Skin Lighteners, Japan represents the largest market worldwide. Consumers in Japan, especially women, are known to spend more on skin lightening products than women in other countries. In Japan, demand for bihaku products is high among older women. Asia-Pacific is forecast to grow at a CAGR of 13.3% over the analysis period led primarily by India and China. India’s obsession for fairness is aptly represented by the dominance of fairness products in the domestic skincare market. Fairness products account for over 45% of the skincare market and is continuing to grow at double-digit rates annually.
Major players covered in the report include Beiersdorf AG, CavinKare Pvt. Ltd., Clarins SA, E.T. Browne Drug Company, Inc., Emami Limited, Hindustan Unilever Ltd., Jolen, Inc., Kanebo Cosmetics, Inc., Shiseido Company Limited, and The Procter & Gamble Company, among others.
The research report titled “Skin Lighteners: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Japan, Europe, Asia-Pacific (China, India and Rest of Asia-Pacific) and Rest of World.
For more details about this comprehensive market research report, please visit –http://www.strategyr.com/Skin_Lighteners_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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