Global Night Creams Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Product Type (Moisturizing, Anti-aging and Skin Whitening), By Regional Outlook and Forecast, 2023 - 2029
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Market Report Description
The Global Night Creams Market size is expected to reach $12.7 billion by 2029, rising at a market growth of 6.4% CAGR during the forecast period.
E-commerce is growing rapidly in cosmetics because more and more e-commerce sites are selling a wide variety of goods, like Clinique, Sephora, Nordstrom, and Amazon. In addition, the provision of door-to-door delivery services, ideal for the working and ageing population, will boost the market. Therefore, E-commerce is anticipated to generate more than 30% share in the market by 2029. According to WHO, in 2020, there were more persons over the age of 60 than under five-year-olds. One in six individuals across the world will be 60 or older by 2030. By this year, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020. The number of individuals in the world who are 60 or older will double (to 2.1 billion) by 2050. Some of the factors impacting the market are rising demand for effective dermal care creams, growing expansion of e-commerce sales, and rise of counterfeit products.
The skin of people is exposed to unwanted pollutants, dust, and dirt all day long and when traveling. A harmful build-up from prolonged contact with dust particles can enter the system, causing pollutants and excessive sweating. Ignoring skin needs can also lead to rashes, cutaneous infections, and irritation. The market is expected to develop throughout the forecast period due to the rapidly increasing need for effective dermal care at night. Consumers across the world are interested in buying cosmetic items online as a result of rising internet usage and digitization. Additionally, buying cosmetics online has made the process simple and convenient while offering safe online payment alternatives and time, effort, and money savings. This will further fuel the market demand in the forecast period and the following years.
However, customers are instinctively encouraged to purchase low-quality, unbranded cosmetics items rather than reputable brands due to the wide availability of counterfeit cosmetic products. Additionally, the higher price of luxury skincare products impacts the demand for these products among those with lower incomes, which hinders the expansion of the market.
Product Type Outlook
By product type, the market is segmented into moisturizing cream, anti-ageing cream, and skin whitening cream. The anti-ageing cream segment acquired a substantial revenue share in the market 2022. Growing demand is being caused by the product's capacity to reduce scars and wrinkles. Such creams are very popular among people in their middle and later years since it gives their skin a better complexion, more softness, and a younger appearance. Many customers concerned about their aging-related dull and sagging skin are drawn to the aforementioned benefits.
Distribution Channel Outlook
Based on distribution channel, the market is fragmented into retail pharmacies, convenience stores, hypermarkets/ supermarkets, and e-commerce. The convenience stores segment witnessed the largest revenue share in the market in 2022. Due to the variety of items that cater to various skin types, issues, and preferences, convenience stores have emerged as a significant distribution channel for skincare products. These businesses frequently stock an array of high-quality or specialty cosmetics from well-known brands, making it easier for customers to find things that meet their needs.
|Market size value in 2022||USD 8.3 Billion|
|Market size forecast in 2029||USD 12.7 Billion|
|Historical Period||2019 to 2021|
|Forecast Period||2023 to 2029|
|Revenue Growth Rate||CAGR of 6.4% from 2023 to 2029|
|Number of Pages||163|
|Number of Table||270|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Distribution Channel, Product Type, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region covered a considerable revenue share in the market 2022. The regional market is expanding due to the growing demand for skin care products in nations like China, Japan, and India. India's skincare market is expected to grow due to the expansion of skin issues. As a result, there is a much-increased demand with more moisturizing and skin-whitening ingredients. The regional market is expected to be stimulated by growing investments from major manufacturers.
Free Valuable Insights: Global Night Creams Market size to reach USD 12.7 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Beiersdorf AG, The Estee Lauder Companies, Inc., L'Oreal S.A., The Procter and Gamble Company (Olay), Shiseido Company Limited, Unilever PLC, Johnson & Johnson (Johnson & Johnson Services, Inc.), Derma E (Topix Pharmaceuticals, Inc.), Himalaya Wellness Company (Himalaya Global Holdings Ltd.) and Guerlain SA.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Convenience Stores
- Retail Pharmacies
By Product Type
- Skin Whitening
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Beiersdorf AG
- The Estee Lauder Companies, Inc.
- L'Oreal S.A.
- The Procter and Gamble Company (Olay)
- Shiseido Company Limited
- Unilever PLC
- Johnson & Johnson (Johnson & Johnson Services, Inc.)
- Derma E (Topix Pharmaceuticals, Inc.)
- Himalaya Wellness Company (Himalaya Global Holdings Ltd.)
- Guerlain SA
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What would be the size of this Market by 2029?
The Market size is projected to reach USD 12.7 billion by 2029.
What are the key driving factors and challenges in this Market?
Growing expansion of e-commerce sales are driving the Market in coming years, however, Rise of counterfeit products restraints the growth of the Market.
What are the major top companies in the competitive landscape?
Beiersdorf AG, The Estee Lauder Companies, Inc., L'Oreal S.A., The Procter and Gamble Company (Olay), Shiseido Company Limited, Unilever PLC, Johnson & Johnson (Johnson & Johnson Services, Inc.), Derma E (Topix Pharmaceuticals, Inc.), Himalaya Wellness Company (Himalaya Global Holdings Ltd.) and Guerlain SA.
At what CAGR is the Market estimate to grow in the forecast period?
The expected CAGR of this Market is 6.4% from 2023 to 2029.
Which segment is leading the Market in 2022?
The Moisturizing segment is leading the Market by Product Type in 2022 thereby, achieving a market value of $6.3 billion by 2029.
Which region dominated the Market in 2022?
The North America market dominated the Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $4.1 billion by 2029.