Skin Lightening Products Market 2018 – Industry Share, Emerging Trends, Global Leading Players Insight and Forecast To 2023
Cosmetics & personal care industry has witnessed a substantial growth across the globe. Among the cosmetics, skin lightening products are gaining massive popularity among the consumers owing to the several factors. One of the major benefits offered by skin lightening products is to protect against strong UV rays of the sun due to which the
The global skin lightening product market has been divided on the basis of 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 product type, the global skin lightening products market 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.
Top Key Players:
- L'Oréal S.A.
- Beiersdorf AG
- Unilever PLC
- Procter & Gamble Company
- Shiseido Company
- Estée Lauder Companies Inc.
- Avon Products Inc.
- Kao Corporation
- Lotus Herbals
- Clarins group
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Segmental Market Analysis:
The global denim market has been segmented on the basis of type, consumer group, distribution channel, and region.
By mode of type, the global denim market has been segmented into loose fit, slim fit, and others. Loose fit denims account for 34.8% of the market share and is estimated to expand at a moderate rate owing to the texture and comfort it offers. The slim fit denims are considered to retain its dominance during the estimated period owing to the rising preference of the consumers towards skinny fit apparels. The others segment comprises joggers, straight fit, cropped jeans, high waisted jeans, baggy jeans, boot cut, and others. This segment is likely to expand at 4.46% CAGR during the appraisal period.
By mode of consumer group, the global denim market has been segmented into male and female. Among these, the female segment is considered to hold the major market proportion as women consumers follow the style ideas and develop fashion inspirations from social media and magazines. The demand for luxury and premium denim is accelerating at a high pace over normal denim among the female population due to the increasing per capita disposable income. The segment is expected to be worth USD 70,602.3 million by 2023.
By mode of distribution channel, the global denim market has been segmented into store-based and non-store-based. Among these, the consumer preference towards store-based channels is high due to the one-stop shopping experience offered to the consumers. While store-based distribution channels include convenience stores, supermarket/hypermarket, and others, the non-store-based distribution channel comprises several e-commerce platforms where the consumers can browse through several shopping sites. The non-store channel is expected to experience a robust CAGR of 5.30% over the forecast period and net higher profit margins for the denim market.
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Geographically, the denim market has been studied under four major regions, namely, Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
Among all the regions, North America is considered to be an attractive region among the manufacturers and demonstrate 4.37% CAGR over the review period to touch USD 44,060.3 million at the end of 2023. This can be credited to the expanding product portfolio of denim by the major manufacturers. Innovation in design and color is another factor considered to contribute to the market growth. Moreover, key manufacturers are focusing on promotional activities in order to create awareness among the consumers regarding new product launch. Such factors are likely to influence the market growth to a great extent in this region.
With 4.45% CAGR over the assessment period, the European market is considered to occupy a major share in the global market owing to the development of latest products and technological upgradations in this region. Consumers in this region are seen to prefer wearing denim more compared to other regions, which further contributes to the market growth. Moreover, the market is predicted to garner USD 15,550.9 million owing to the increased adoption of distressed denim and discount offerings.
The Asia Pacific region is considered to be a lucrative region among denim manufacturers across the globe and is predicted to register 5.11% CAGR from 2018 to 2023. With the rising middle-class income population coupled with mass urbanization, the market in this region is considered to flourish. Moreover, the rising per capita disposable income of the consumers have resulted in the increasing sales of denims in this region.
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