The global skin tightening cream market was valued at more than $3 billion in 2015 and is expected to reach $4 billion by 2020, says Technavio.
Technavio has announced its latest market research report on skin tightening to its health and wellness portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global skin tightening market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include L’Oréal, Neutrogena, Olay, and Nu Skin.
In terms of geographical analysis, APAC will be the fastest-growing region in the global market, reaching revenues of over $1049 million by 2020. Japan, India, China, Singapore, and South Korea will emerge as the key revenue-generators.
“There is increased demand for organic products in the market due to rising awareness about the side effects of conventional tightening creams. This is prompting manufacturers of skin tightening creams to research on the possibility of adding natural ingredients. Prominent players in the market such as Olay and Neutrogena are investing in research activities to ensure their products have minimal side effects. The demand for organic skincare products in the market is the highest in the developed markets such as the US,” says Amber Chourasia, a lead analyst at Technavio for research on health and wellness.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Cost-effective solution
Skin tightening is becoming increasingly popular among women who want to look younger, especially among middle-aged and older women. Skin tightening can be carried out in a number of ways –– from highly-effective methods such as laser treatments and surgeries to fairly less-effective methods such as the application of cosmetics products meant to gradually tighten the skin. Surgeries and laser treatments are cost intensive, with the average cost ranging between $700 and $3500. Surgical procedures also pose the risk of complications such as nerve damage, excessive bleeding, infection, and allergic reaction to medications. These factors make surgical skin tightening relatively riskier investment as opposed to tightening creams. Furthermore, skin tightening creams are priced anywhere between $10 and $350 for the most expensive ones.
Rise in disposable income
The rise in per capita disposable incomes have propelled purchasing powers of consumers’ and also led to a rise in urban population. This trend is especially noticeable in the Pacific Rim countries such as Malaysia, Indonesia, and Vietnam. During 2010-2015, India witnessed an annual rate of change of more than 2% in disposable income and China saw a change of over 3%. The growing need for skincare products among women in the urban cities, combined with the rising disposable income, has led to rising in demand for skincare and anti-aging products, especially tightening creams.
Rapid growth of e-commerce
The rapid growth of the e-commerce sector in the recent years has boosted the supply and demand for various products in the global market, especially consumer goods. With almost 20% of the global sales and orders for tightening creams being placed e-commerce retailers, e-commerce platforms are a key distribution channel for the global skin tightening creams market. E-commerce platforms also make the operational costs of the manufacturers with respect to inventory storage, display, and other running costs apart from making it easier for the consumers to place orders and buy products.
Some of the other prominent vendors identified in this report are Algenist, Amway, Bioelements, Cellex-C, Elemis, Elizabeth Arden, Estēe Lauder, IS CLINICAL, Jergens, My Skin’s Friend, Philosophy, VLCC, and Z.Bigatti.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Skin Tightening Creams Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Facial Serum Market 2016-2020
- Global Foundation Cream Market 2016-2020
- Global Organic Skincare Products Market 2016-2020
- Global Facial Care Products Market 2016-2020
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