The global night creams market size is projected to attain USD 11.62 billion by the end of 2025, according to a new report by released Million Insights. It is estimated to grow at a CAGR of 7.24% over the forecast period, 2019-2025. The emulsions used in the product helps in intense moisturization and deep nourishment. Its hydrating and moisture restoring properties provide the best solution for extremely dry skin. To avoid mixing up the product with other make-up products, it is generally applied during nighttime. These are the major factors expected to boost the demand for night creams during the forecast period.
In Asia Pacific, there is high demand for anti-aging and skin whitening products which boosted the growth of this segment. Nowadays, people are more concerned about skin related issues and there is an increase in the disposable income levels of the customers which relatively increased the demand for the product from, 2019 to 2025.
Rapid increase in the demand for night creams has enforced the existing players in cosmetic & skin care industry and new entrants to enter in the night cream market. They are putting their efforts in targeting different segments that deal with different skin related issues such as deep hydration, skin lightening, maintenance of elasticity, even tone and soft and supple skin. Multiple opportunities are created due to the growth observed in online distribution channels, ease of estimating the quality of products that are available in supermarkets and specialty stores and the growing concerns about damaged skin and aging.
The market for night creams in Asia Pacific has been estimated to grow rapidly owing to rising concerns of people related to the skin problems and increasing awareness about the skin care and beauty products. Moreover, there is a regional market growth anticipated due to the initiatives taken by major manufactures by launching new products in the segment. Cosmetic products have the largest share in the segment of skin care in Europe which accounted for EUR 20.7 billion, in 2017.
The crucial players operating in this market such as Avon Inc., Beiersdorf AG, Shiseido Group and L’Oréal SA are putting their efforts in taking strategic decisions like mergers and acquisitions, introduction of new products, capacity expansions and product innovations. In Feb 2018, a company names Clarins started a digital campaign “Worth the Wrinkle” which targeted youngsters to share their viewpoints on aging of the skin.
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Further key findings from the report suggest:
• The moisturizing products segment is anticipated to grow at a CAGR of 6.83% from 2019 to 2025
• In 2018, the market share of offline distribution channel accounted for more than 86.6%.
• Europe dominated the market with 36.54% of share and is projected to grow significantly during the forecast period
• The night creams market would be further propelled by the rising concerns for skin related issues in the growing industry of skin care
• With major players like Loreal SA, Avon Inc., Estee Lauder Inc., Shiseido Group, and Beiersdorf the market is expected to be highly competitive.
Million Insights has segmented the global night creams market based on product, distribution channel, and region:
Night Creams Product Outlook (Revenue, USD Billion, 2015 - 2025)
• Skin Whitening
Night Creams Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Night Creams Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)
• South Africa