Rapid growth of the skincare market, growing demand for anti-aging and skin whitening products, and innovative product launches are some of the factors driving the growth of the night cream market. Moreover, growing awareness regarding the benefits associated with the use of night creams containing natural and organic ingredients have boosted the sales of night cream products across the globe. The night cream market is witnessing higher sales of moisturizing & nourishing cream products. However, increasing popularity of anti-aging and skin whitening products is expected to push the sales of anti-aging night cream products over the forecast period.
On the back of these factors, global sales of night cream reached US$ 5.9 Bn in 2018. The night cream market is estimated to register a CAGR of over 6% during the forecast period of 2019-2027.
Key Takeaways of Global Night Cream Market Study
- PMR identifies East Asia as the largest market for night cream in 2019, followed by North America and Europe, attributable to the higher demand for skincare products in these regions. Growing demand for cosmetic products, rising product awareness, and increasing popularity of J-beauty and K-beauty are factors that contribute to the high sales of night cream products in the East Asian market.
- Moisturizing & nourishing cream products have been identified as the most demanded products by consumers, owing to the availability and suitability of such products for most skin types, such as normal, oil, dry, and combination.
- The conventional night cream segment holds most of the market share. However, the natural night cream segment is expected to register the highest CAGR during the forecast period, owing to increasing consumer inclination toward natural or organic-infused products.
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“At present, most manufacturers are focusing on increasing their offerings of natural or organic-infused night cream products. However, limited scope or usage of antioxidants in anti-aging night creams is estimated to offer several opportunities. Thus, leading companies are focusing on R&D programs such as stem cell programs, with an aim to offer more innovative products to gain a competitive advantage,” says a PMR analyst.
South Asia & Pacific to Offer Lucrative Investment Opportunities
East Asia is poised to capture some market share from developed countries in North America and Europe, and is expected to remain the highest value share contributor, owing to the large population, growing middle-class consumers, increasing inclination toward cosmetic products, and presence of cosmetic companies offering J-beauty and K-beauty products in the region. According to PMR’s study, growth opportunities for players in the night cream market are emerging in South Asia & Pacific and Latin America. Newer opportunities in the South Asia & Pacific night cream market are being set in motion by government initiatives in various countries.
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Know More about Night Cream Market Report Inclusions
Persistence Market Research published a new market report on the night cream market, covering global industry analysis from 2014-2018 and forecasts for 2019–2027. This report on the night cream market provides compelling insights on the basis of product (moisturizing & nourishing creams, anti-aging creams, skin whitening creams, and others {redness relieving, anti-wrinkle, etc.}), source (natural and conventional), price (high/premium and mid-range/economy), and sales channel (supermarkets/hypermarkets, specialty stores, multi-brand stores, discount stores, drug stores & pharmacies, online retailers, and other sales channels), across six regions.
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