Skin Lightening Products Market Size, Share & Industry Analysis, By Form (Creams, Soaps, Lotions, Gels, and Others), By Formulation (Synthetic and Organic & Natural), By End-User (Women and Men), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Pharmacy Stores, Online Channels, and Others), and Regional Forecast, 2024-2032

The global skin lightening products market size was valued at USD 9.22 billion in 2023. The market is projected to grow from USD 9.67 billion in 2024 to USD 16.42 billion by 2032, exhibiting a CAGR of 6.85% during the forecast period.

Skin bleaching products contain ingredients such as Vitamin C, retinols, antioxidants, and others that improve discoloration of the skin tone and maximize the skin's brightness. In addition, these products aid in addressing specific skin concerns such as hyperpigmentation, sun damage, dark patches, and others. Global cosmetic innovation labs are formulating innovative ingredients to help manufacturers produce functional skin-illuminating products. For instance, in April 2024, ICHIMARU PHARCOS, a Japanese raw material provider for cosmetics and health food, unveiled JuniperBright, a natural cosmetic ingredient that aids in reducing lipofuscin and improves skin brightness for ensuring borderless beauty of the users.

Closure or limited operations of modern trade operators, including cosmetic shops and supermarkets, due to the COVID-19 pandemic lockdown restrictions significantly impacted product sales globally. However, consumers’ bulk purchases of personal care products to avoid good shortage issues during the COVID-19 pandemic supported product consumption across many countries globally.

Skin Lightening Products Market Trends

Increasing Trend of Intravenous (IV) Drips to Favor Market Growth

Intravenous (IV) drips-based skin bleaching products provide a range of skin-absorbable vitamins and minerals that meet the hydration, nutrition, and replenishment needs of the user’s skin. Increasing skincare experts’ suggestions of intravenous (IV) drips-based products to provide enhanced skin health-benefiting solutions to the users create newer market growth opportunities. In addition, growing consumers’ accessibility to IV drip-based skin-lightening injections and their increasing preference for fulfilling custom skin care needs favor the demand for skin lightening products.

Skin Lightening Products Market Growth Factors

Rising Demand for Functional Skincare Products to Drive Market Growth

Functional skin bleaching products are beneficial in addressing specific skin concerns, including pigmentation, aging, sunburns, tanning, and others. Rising demand for functional skin-bleaching products and the growing global aging rate skyrocket the global skin lightening products market growth. According to the United Nations World Population Prospects 2022, 10% of the global population reached aged 65 years and above in 2022. It is expected to increase up to 16% by 2050.

Increasing Demand for Plant-based Skin Illuminating Products to Favor Market Growth

Increasing eco-conscious consumers’ demand for products made of plant-based extracts such as azelaic acid, arbutin, kojic acid, aloesin, and others drives market growth globally. In 2024, Clariant AG, a Swiss-based specialty chemical company, established a joint venture agreement with Plant Advanced Technologies (PAT) to develop patented, proprietary plant milking and target binding technologies. The company’s target binding technologies enable manufacturers to produce cosmetics that address users’ skin radical scavenging and lightening needs.

RESTRAINING FACTORS

Health Risks Due to Higher Mercury Concentration-based Products to Impact Market Growth

Mercury-based bleaching products could lead to decreased renal output, nephrotic syndrome, renal failure, and other health implications. The increasing prevalence of face washes with bleaching products, rising purchase of online or Over-the-Counter (OTC) skincare products, and the U.S. FDA’s ineffectiveness in regulating brightening cosmetic products significantly pose challenges to the development of the global market.

Skin Lightening Products Market Segmentation Analysis

By Form Analysis

Large Skin Area Coverage Made Bleaching Creams Preferable Choice Over Counterparts

By form, the global market is divided into different segments, including creams, soaps, lotions, gels, and others. The creams segment exhibited a leading global skin lightening products market share in 2023 and is expected to grow at the fastest rate during 2024-2032. The cream form of products easily gets absorbed in the skin and offers multiple skincare benefits, including moisturization, nourishment, and hydration. In addition, users can easily apply creams to cover larger pigmented skin areas as compared to other forms. These aspects primarily have made cream a preferred product form among global consumers. This segment is slated to lead the market throughout the forecast period of 2024-2032.

The soaps segment exhibited a second-leading market position in 2023 and is slated to expand at the second-fastest growth rate during the forecast period of 2024-2032. The rising demand for brightening soaps exhibiting anti-inflammatory and anti-bacterial skincare properties drives the soaps segmental growth. Furthermore, increasing women consumers’ preference for bleaching soaps consisting of lemon extract and tea tree oil favors the demand for such products.

The lotions segment exhibited a third-leading market position in 2023 and is slated to grow at a slowest rate during 2024-2032. The lotions segment is mainly driven by the rising demand for advanced formulation-based lightening lotion serums among women with sensitive skin. In addition, continual manufacturers’ introduction of innovative, brightening serum lotions supports the development of the segment globally. In March 2024, RiVive Skincare unveiled a new brightening serum lotion consisting of innovative skin lightening ingredients, including vitamin C derivatives, ethyl ascorbic acid, ascorbyl palmitate, and L ascorbic acid.

The gels segment exhibited the least global market share in 2023 and is slated to grow at a lower growth rate during 2024-2032. Gels contain fewer emollients and oils than moisturizer creams. Rising demand for gel form of illuminating cosmetics for regular skincare routine drives gel segmental growth. Increasing demand for the subscription service of brightening products, including dark spot corrector gels, also supports the segmental growth globally.

The others segment covers the analysis of various product forms, including powders, pills, and injections. The segment is slated to grow at the third fastest growth rate during 2024-2032. Broadening consumer needs of using cosmetic products and dermatologists’ recommendations for the usage of pills & injections for skin lightening drive others segmental growth.

By Formulation Analysis

Higher Production of Synthetic Ingredient-based Products Led to Segmental Dominance

By formulation, the global market is bifurcated into synthetic and organic & natural. Higher production of illuminating cosmetics made of the safer form of chemicals, compounds, and synthetics resulted in the synthetic segment exhibiting a major market share in 2023. In addition, advancements in the development of the synthetically-developed skin brightening agents to produce innovative material technology-based products skyrocket synthetic segmental growth worldwide. For instance, in October 2022, Galderma, a global dermatology company launched ALASTIN Skincare® A-LUMINATE BRIGHTENING SERUM, a ALASTIN’s proprietary PATH-3 Technology-based products to enable users treat surface hyperpigmentation and groom facial skin.

However, the growing trend of shopping ethically-produced products and continual manufacturers’ efforts of producing natural or organic ingredient-based cosmetics is slated to result in the organic & natural segment growing at the fastest rate during 2024-2032.

By End-User Analysis

Women Segment Dominated Driven by Higher Demand for Innovative Products

By end-user, the global market is bifurcated into women and men. The women segment exhibited a leading market share in 2023 and is poised to grow at a CAGR of 7.0% during 2024-2032. Its significant share is attributed to the higher women consumers’ demand for innovative brightening products for their skin-related treatments. According to the survey conducted for Kumasi, Ghana-based respondents by the National Centre for Biotechnology Information, Library of Medicine (NCBI), in December 2020, 56.6% of the women respondents reported the usage of skin lightening products compared to 26.6% of the male respondents in Ghana.

The growing awareness of personal hygiene and the increasing number of men preferring brightening products to treat their oily skin conditions is anticipated to favor men’s segmental growth during 2024-2032.

By Distribution Channel Analysis

Higher Demand for Premium Products Result in Hypermarkets & Supermarkets Segment to Dominate Market

Based on distribution channel, the global market is divided into hypermarkets & supermarkets, specialty stores, pharmacy stores, online channels, and others.

The hypermarkets & supermarkets segment exhibited a dominant market share in 2023 and is slated to grow at the third fastest rate during 2024-2032. Continual supermarket shops’ provision of premium skincare line of products to broaden their beauty & personal care product categories drive product consumption from the supermarket shops. From December 2023, Aldi, a German supermarket company, started offering brightening products of brands including Drunk Elephant, Sunday Riley, Lucara, and others to build its skincare product portfolio in the U.K.

The online channels segment exhibited the fourth-highest global market share in 2023 and is slated to grow at the fastest rate during 2024-2032. The rising adoption of online shopping for personal care goods drives online retailers’ product revenues, favoring online channels growth. Macy's Inc., a global departmental store company, reported an increase in its women's accessories, intimate apparel, shoes, and cosmetic & fragrances division’s sales revenues from USD 9,454 million in 2019 to USD 10,119 million in 2021.

The specialty stores segment exhibited a second-leading market share in 2023 and is slated to grow at the second-fastest growth rate during 2024-2032. The rising number of retailer cosmetic shops and continual specialty beauty shops' provision of discounted premium products drive product consumption from these settings globally. Ulta Beauty, a U.S.-based salon quality cosmetic products retailer, reported an increase in the number of its specialty cosmetic supply stores from 1,254 in the financial year 2020 to 1,308 in the financial year 2022.

The pharmacy stores segment exhibited the least global market share in 2023 and is slated to grow at the fourth lowest growth rate during 2024-2032. Pharmacy stores maintain merchandise of brightening creams, lotions, gels, and others to increase store visitors’ attention toward buying such over-the-counter products. This aspect is mainly supporting the product consumption rate from pharmacy stores. In addition, growing health consciousness and increasing consumer preference toward buying pharmaceutical cosmetics by taking advice from trained medical professionals at drug stores are supporting the product revenues from such a segment. 

The others segment covers the analysis on various channels, including discount/mass stores, beauty clubs, direct offline selling channels, and convenience stores. The segment is mainly driven by broadening consumers’ necessities of buying personal care products through diverse points of purchase.

REGIONAL INSIGHTS

Based on region, the global market for skin lightening products is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. 

Asia Pacific market was valued at USD 4.95 billion in 2023 and exhibited a major market share. The region is slated to grow at the fastest rate during 2024-2032. The increasing aging population and higher women consumers’ demand for anti-aging property-based skin lightening products in China, Japan, and South Korea drive market growth in these countries. According to the United Nations World’s oldest population data, in 2023, the population aged 65 years and above in Japan reached 29.1% and is expected to increase to 34.8% by 2040.

In addition, rising consumer demand for skin lightening treatments and increasing prevalence of skin pigmentary disorders among consumers in India and Southeast Asia drive product demand in these geographies. According to the surveyed data published by the National Centre for Biotechnology Information (NCBI), in March 2021, around 45% of the population is suffering from skin pigmentary disorder, and around 55% of them seek lightening skin treatments in Southeast Asia.

North America exhibited the second highest market share in 2023 and is slated to grow at the fourth fastest growth rate during 2024-2032. Continual key companies' celebrity endorsement activities boost consumer demand for innovative, brightening cosmetics, driving product sales in the U.S. In addition, the growing popularity of products made of sophisticated formulas that create a natural-looking color to an individual’s skin favors market growth in North America. As per research data published by the National Retail Federation (NRF), in 2022, 31% of American shoppers said sustainable or environmentally responsible products made most of their last purchases. In addition, 50% said they prefer to spend on premium sustainable brands.

Europe’s market for skin lightening products exhibited a third leading share in 2023. The growing European’s concerns about skin redness, skin darkening and other sunburn issues, and shifting consumer trends toward premium-based cosmetics is expected to drive market growth at a third fastest rate during 2024-2032. As per surveyed data presented by Cancer Research U.K. Organisation, as of May 2021, in the U.K., nine out of ten melanoma skin cancer cases are due to sunburn-related UV exposure.

The rising adoption of social media and online shopping of consumer goods is expected to drive the online sales of skin-illuminating products in Brazil, Chile, and Argentina, accelerating the South American market growth. According to the Argentine Chamber of Electronic Commerce (CACE) data, online purchases of consumer goods in Argentina increased by 124% in 2020, which was 76 % in 2019.

The shifting Gulf region’s consumer preference for vegan cosmetic items creates new opportunities for Unilever Plc., L’Oreal S.A., and other key players to strengthen business in the Middle East. Besides, higher concern about the complexion of dark skin tones among South African and Nigerian consumers and their preference for using skin lightening products accelerate product consumption in Africa. The growing awareness regarding hygiene and cleanliness also drives product demand in the UAE and Saudi Arabia.

KEY INDUSTRY PLAYERS

Companies Focus on Innovative Product Introduction to Gain a Competitive Edge

The leading market players, such as L’Oréal S.A., Unilever Plc, The Procter & Gamble Company, and others, focus on introducing newer innovative formulation-based skincare products to increase their product portfolio and build market position. For instance, in April 2022, The Procter & Gamble Company launched a skin lightening booster collection of products, including OLAY AHA Brightening Booster, OLAY Coconut Oil Nourishing Booster, OLAY Vitamin E Oil Nourishing Hydration Booster, and others in the U.S.

LIST OF TOP SKIN LIGHTENING PRODUCTS COMPANIES:

• L’Oréal S.A. (France)


• Beiersdorf AG (Germany)


• Unilever, Plc. (U.K.)


• The Procter & Gamble Company (U.S.)


• Shiseido Co. Ltd. (Japan)


• Estee Lauder Companies, Inc. (U.S.)


• Kao Corporation (Japan)


• Avon Natural Products, Inc. (U.K.)


• Revlon Inc. (U.S.)


• Himalaya Wellness Company (India)

KEY INDUSTRY DEVELOPMENTS:

• March 2024: eclat superior, an Indian cosmetic brand, launched a new Glutathione face cream consisting of skin brightening ingredients including vitamin C, niacinamide, alpha arbutin, licorice extracts, and lactic acid. The product is available at Amazon.in shopping site.


• December 2023: The World Health Organization (WHO) conducted a project, ‘Eliminating Mercury Skin Lightening Products (SLPs),’ to lower the health complications due to mercury-based skin lightening products, establish better regulation, and fair production, trade, and distribution practices. Such organizations’ efforts positively contribute toward sustainable development.


• September 2023: Kojie San, a retailer and producer of brightening cosmetics, unveiled two new skin lightening serums created with Zero Pigment Light Technology in India. These products consist of tinted sunscreen infused with a combination of the company’s developed technologies, including Radicare and True Tone Technology.


• February 2023: Governments of Gabon, Sri Lanka, and Jamaica invested USD 14.0 million to conduct a project eliminating the use of mercury in the skin lightening products. These governmental initiatives contribute positively toward sustainability development of the industry.


• September 2021: Kalichem, a cosmetic ingredient manufacturer, developed a Biomimetic Hydroxyapatite range of patented specialty ingredients for skin lightening applications. The ingredient is formulated with glutathione and cysteine that promote anti-spot, oil control, and skin lightening features.

REPORT COVERAGE

The report analyzes the market in-depth and highlights crucial aspects, such as prominent companies, product forms, product formulations, distribution channel, and market analysis-related end-user areas. Besides this, the report provides key trends and the competitive landscape and highlights significant industry developments. In addition to the aspects mentioned earlier, the report on the market outlooks several factors contributing to the market growth.

Report Scope & Segmentation