"Overview of Night Cream market"
The Night Cream Market Was Valued XX Bn In 2018 And It Is Projected To Reach More Than US$ 13.4 Bn By 2027, Likely To Grow With A CAGR Of 7.3 % During The Forecast Period.
The global night cream market has witnessed significant tremendous growth and is expected to grow rapidly in the coming years. Some of the major factors driving the growth of the global market include benefits offered by night creams, the rising popularity of skincare products and an increase in per capita income.
The Rising Popularity Of Night Creams Due To Its Additional Benefits Is Anticipated To Drive The Growth Of The Global Market
Hydration and moisturized skin products are making it popular among youth. These products also offer mineral oil, fatty acids and various nutritional contents that are necessary to keep the skin healthy and glowing. Moreover, these products protect the skin from sagging. Apart from improving the external appearance, the night creams also help in repairing damaged cells and enhance skin quality. These creams help in restoring skin elasticity, reduce scars and spots, boost collagen, and offer better blood circulation. These factors are estimated to fuel the growth of the global night creams market during the forecast period.
Furthermore, the growing number of promotional activities aimed at spreading awareness regarding skincare routine is expected to poise an appositive impact on the growth of the global market.
Moisturizing Product Segment Dominates the Global Night Cream Market
Based on product type, the global night cream market is dominated by moisturizing segment. The segment is expected to maintain its dominance over the forecast period. This is mainly due to the rising adoption of hydrating products across the globe. These products offer several advantages which enable it to gain popularity among consumers. The moisturizing products provide nurture and even complexion to the skin. Also, these are a rich source of antioxidants including Vitamin E, C, and A which are great for skin nourishment. These factors are expected to boost the demand of moisturizing products across the globe.
The anti-aging product segment is estimated to witness the fastest growth over the forecast period. These products help the skin to remove wrinkles, scars, and acne. Moreover, the rising demand from females above 30 years is expected to fuel the growth of the segment. The product provides softer & smoother skin and younger appearance which is putting a positive impact on segment growth.
In Terms Of The Distribution Channel, The Offline Segment Held The Key Share In Global Night Creams Market In 2018.
On the basis of the distribution channel, the offline segment dominates the global night cream market. The segment occupied more than 80 % share in 2018. The dominance of the segment can be attributed to consumer’s preference for offline retail stores as they can check the ingredients along with its characteristics before buying. Also, the wide range of product availability in specialty stores and supermarket’s cosmetic section is driving the growth of the region.
On the other hand, the online segment estimated to show the fastest growth over the forecast timespan. The major factor driving the growth of the segment is due to the rising number of eCommerce websites such as Nykaa, Amazon, Sephora, and Clinique offering a wide range of products. The online channels provide the facility of home delivery, hassle-free shopping, and huge discounts which are making it popular across the globe.
Europe held Significant Market share in Global Night Creams Market in 2018
Europe region dominates the global night creams market in 2018. The growth of the region can be attributed to the growing consumption of beauty products across Europe. The U.K. and Germany are the major contributors for the night creams market in Europe. Moreover, some of the major players including Beiersdorf AG, L’Oréal SA, Avon Inc, and Shiseido Group are focusing on expanding their sales and distribution channels across Europe which is expected to create ample opportunities for the growth of the region.
Conversely, Asia Pacific is estimated to grow at the highest compound annual growth rate during the forecast period. The growth of the region is driven by the growing demand for skincare products in emerging economies including South Korea, China, and Japan. In the Asia Pacific, India is expected to show phenomenal growth in coming years owing to rising number of skin problems.
Strategic Merger and acquisition are the strategies adopted by the players present in this market
Some of the prominent companies operating in global Night Cream market include Beiersdorf AG.; L’Oréal SA; Avon Inc.; Shiseido Group; and Estée Lauder Inc..
Global Night Cream Market by Product Type
- Skin Whitening
Global Night Cream Market by Distribution Channel
Global Night Cream Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America