Impact of COVID-19 on Economy, Industry and Company The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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"The bb cream market was estimated at USD ~2.8 Billion in 2019. It is anticipated to witness a CAGR of 8.5% during the forecast period (2020-2028)”
It is anticipated that the growing demand for advanced and high-quality skincare amid young consumers will boost demand for a bb cream. The increase in the number of young working people is anticipated to drive market demand. In addition, lifestyle changes and a desire to look nice are projected to improve the adoption of bb cream. BB creams have been launched to address the young population who want to conceal both pimples and uneven skin tones. In addition, BB creams target young mothers who don't have too much time to spend on make-up but want to look good. BB cream is also popular among men on account of increased awareness about their physical appearance, owing to which they spend considerable time and money looking good.
Growing customer inclination towards beauty, growing disposable income, and increasing need for less time-consuming solutions are some of the major factors driving BB cream market growth. Growth in the upper- and middle-class families is another factor driving the market demand. Major market players are focusing on launching creative BB creams to increase their customer base.
The global bb cream market on the basis of the end-user segment is divided into men and women. The geography segment is bifurcated into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
By the sales channel, the e-retailers segment is expected to witness the fastest growth in the bb cream market across the globe.
E-Retailers segment is expected to hold XX% of the total market. The e-retailer segment is expected to show the fastest growth during the forecast period owing to growing smartphone and internet penetration worldwide. The global growth of the e-commerce industry will also boost the segment growth. In 2018, the global e-commerce industry was valued at USD ~ 2.8 trillion and is expected to grow with a CAGR of around 6% in years to come. Rising beauty e-commerce websites worldwide is another factor for the growth of the segment. Major market players are also focusing on launching their own shopping websites which will further drive the segment growth.
By End-user, the men segment is estimated to witness the fastest growth in the BB Cream Market
The women's segment was dominant in 2019. The segment has its dominance due to its benefits for women's skin such as protection, hydration, and coverage. BB cream was majorly preferred by working women due to less time required to apply the cream. Rising young working professionals worldwide and less makeup time are other factors for segment dominance.
On the contrary, the men segment is estimated to show the fastest growth due to rising consciousness among men about skincare and the launch of special bb creams for men. Rising physical appearance consciousness among young men’s and rising disposable income are some of the major factors for segment growth. The growing adoption of beauty products by men will spur revenue growth.
Asia Pacific region to dominate the overall bb cream market in terms of revenue share.
Asia Pacific region dominates the bb cream market. Over the past couple of years, the overall personal care market has experienced significant growth. The skincare market perceives a shift in demand from the elderly to the young. Young consumers use anti-aging products to delay the signs of aging that are expected to drive the Asia Pacific market. The market is estimated to register a CAGR of XX% during the forecast period.
The bb cream market will hold a substantial market share in Europe. It is anticipated that technological advances coupled with the development and introduction of advanced creams will enhance market growth. Rising demand for anti-aging creams is also expected to boost the development of the regional market in the coming years.
L’Oreal S.A., The Estee Lauder Companies Inc., Shiseido Company Limited, Unilever, Christian Dior SE, Revlon, Inc., Coty Inc., Avon Products Inc., Missha US Inc., The Clorox Company, L'Occitane International S.A., AmorePacific Corporation, Stila Styles LLC, Tarte Inc., Lancome SA, Groupe Marcelle, Bobbi Brown Professional Cosmetics Inc., Physicians Formula Holdings Inc., Clinique Laboratories LLC, Dr. Jart., Shiseido Company Limited, Unilever, Christian Dior SE, Revlon, Inc., Coty, Inc., Avon Products, Inc., and Missha US Inc. are few of the key players in the global bb cream market.
Segmentation of Global BB Cream Market:
BB Cream Market by Skin Type:
BB Cream Market by SPF Type:
- Below 15 SPF
- Between 15-30 SPF
- Above 30 SPF
BB Cream Market by End-user:
BB Cream Market by Sales Channel:
- Direct Selling
- Specialty Outlets
- Convenience Stores
- Beauty Stores
BB Cream Market by Region:
- North America
- South America
- Middle East & Africa