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Analysis of the Global Whitening Ingredients Market: Opportunities for Plant Extracts in Skin Lightening Drive Demand
Most whitening personal care products available in the market are formulated with synthetic ingredients for irreversible skin lightening Safer skin radiance can be facilitated by choosing plant extracts and other natural ingredients In markets such as North America and Western Europe, consumers prefer premium products, and this preference acts as a key for the growth of the natural whitening ingredients market Consumers’ higher earning potential provides additional revenue for spending on premium products such as face masks
The global whitening ingredients market was worth $ million in 2014, and is expected to grow at a compound annual growth rate (CAGR) of % from 2014 to 2021
- Phenolic-based ingredients are expected to dominate the market as a result of increasing and stable demand from the Asia-Pacific (APAC) region
- The growth of plant extracts and developing opportunities in the West are expected to drive the market Additionally, the quest to improve efficiency through innovation is expected to continue
- The strong growth of the whitening ingredients market is mainly attributed to increased expectations to possess a radiant and lightened skin tone Moreover, consumers in the West are aware of the efficacy of ingredients formulated in personal care products; hence, products with enhanced claims will boost growth
- Consumers are becoming more environment and health conscious, and products with all-natural claims are perceived to be more efficacious; hence, more growth is expected from natural specialty ingredients Fast growth of retail products will boost future market potential
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