The night cream market is evaluated at US$15.408 billion for the year 2020. Night creams are a type of cosmetic product that consists of various hydrating ingredients that are beneficial to the skin. Night creams are majorly used for moisturizing the skin and also as whitening agents, mostly by the female population. The rising number of consumers with dry and oily skin is also considered to be a prime factor supplementing the market growth of night creams during the next five years. Night creams are primarily used at night, particularly by women who use makeup to avoid the interference caused by it. Night creams are gaining a lot of traction, especially among the millennial population, on account of their numerous benefits such as hydration and skin whitening, among others. Also, these creams consist of essential oils, fatty acids, and other necessary nutrients that also keep the skin nourished and supple. This, in turn, is also providing an impetus for the market to grow in both developed and developing economies around the globe. In addition, various other benefits offered by these creams, such as the removal of spots, scars, and wrinkles, have led to the adoption of these creams by adult females also.
Moreover, the companies are spreading awareness among the consumers through promotional campaigns, initiatives, and offers. They also show their participation to drive sales and thereby gain a competitive edge in the market.
Rapid product innovations are propelling the market growth
Growing consumer expectations have led to the constant participation of key players operating in the market to increase their R&D investments to develop and launch new products. This also shows the potential for the market to grow shortly. For instance, in 2019, Tatcha, LLC, a Japanese cosmetics business, released Luminous night cream, which contains purple rice, an Okinawan algae combination, and hyaluronic acid. La Roche-Posay released an ultra-night face moisturizer with hydration and calming properties the same year. Thus, the inclination of key players in the market to develop organic products also propels the opportunities for key market players to invest in the market and gain a competitive edge over other players. Also, the vast adoption of these products among the developed economies is driving the market growth significantly during the next five years. For instance, recently, The Boots Company PLC announced that it registered more than 100,000 shoppers that signed up for its latest product, No7 Advanced Retinol, even before the launch of the product. Furthermore, the aim of the companies present in the market to launch new products to tap the potential that the night cream market holds also plays a significant role in driving the market. Murad Skincare, for example, released a youth renewal night cream in December 2019 that has a lightweight finish and a rich texture.
The rising penetration of e-commerce sales is driving the market growth
With the growing internet penetration and digitization, consumers around the globe are interested in purchasing cosmetic products online. Also, the online mode of purchase has provided a user-friendly way to purchase beauty products, providing secure payment options online, in addition to saving a lot of time, effort, and money. Additionally, with the growing e-commerce industry, the younger generation living in an e-commerce era is highly influenced by the digital mode of purchase and is thus having a significant impact on the sales of these products online, further fueling the market demand in the forecast period and the coming years. Many retailers, in addition to offline sales, are moving on to the creation of online sales channels as well, offering a convenient alternative for people with a busy lifestyle. Furthermore, with the growing adoption of smartphones, tablets, and other mobile modes of electronic purchasing devices, the night cream market is expected to thrive at a significant growth rate with the growth of cosmetic sales via e-commerce during the forecast and in the upcoming years.
The night cream market has been segmented based on, distribution channel, and geography. By type, the segmentation of the night cream market has been done based on moisturizing creams, skin whitening creams, and others. Based on the distribution channel, the market has been classified into online and offline. Geographically, the segmentation of the market has been done into North America, South America, Europe, the Middle East, Africa, and t Asia Pacific.
Moisturizing creams to hold a considerable share
By type, the moisturizing creams are anticipated to hold a decent share of the market throughout the forecast period. The major factor driving the market growth includes the booming demand for hydrating products. The presence of various antioxidants in these products is also a major factor supplementing the demand for moisturizing night creams, thus positively impacting the growth of this segment over the next five years. Moreover, the market for anti-ageing creams is witnessing considerable growth throughout the forecast period on account of wide adoption among aged females coupled with the growing purchasing power in the developing economies of the world.
Europe to hold a considerable market share
Based on geography, the European region is anticipated to hold a decent share of the market throughout the forecast period. The major factors bolstering the share of this region in the market include the presence of a well-established cosmetics industry across the region. The presence of various cosmetics companies in the region also supplements the night cream market growth in Europe.
Prominent key market players in the night cream market include Beiersdorf, L’Oréal SA, Amway Corporation, and P&G among others. These companies hold a noteworthy share of the market on account of their good brand image and product offerings. Major players in the night cream market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last two years.
COVID-19 had a detrimental influence on the global market for night creams. Companies had difficulty physically meeting their channel partners and finalizing business deals due to lockdown regulations in several nations throughout the world. This affected the companies' product sales. Furthermore, issues like the closure of beauty retail establishments and cosmetic enterprises, as well as a lack of raw material supplies as a result of the tight restrictions, may significantly reduce the pace of product consumption among the global population.
|Market size value in 2020||US$15.408 billion|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Skin Type, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Beiersdorf, L’Oréal SA, Shiseido Co.,Ltd., Estée Lauder Inc., Amway Corporation, Guerlain, P&G, The Himalaya Drug Company, Clinique Laboratories, llc|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global night cream market?
A1. The night cream market was valued at US$15.408 billion in 2020.
Q2. Who are the major players in the night cream market?
A2. Prominent key market players in the night cream market include Beiersdorf, L’Oréal SA, Amway Corporation, and P&G among others.
Q3. How is the global night cream market segmented?
A3. The night cream market has been segmented on the basis of type, skin type, distribution channel, and geography.
Q4. What factors are anticipated to drive the night cream market growth?
A4. The rising number of consumers with dry and oily skin is also considered to be a prime factor supplementing the market growth of night creams during the next five years.
Q5. Which region holds the largest market share in the night cream market?
A5. On the basis of geography, the European region is anticipated to hold a decent share in the night cream market throughout the forecast period.
Estée Lauder Inc.
The Himalaya Drug Company
Clinique Laboratories, llc
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