Cosmetics have become the integral part of the consumer’s lives. Night creams products are mainly adopted as a moisturizer, skin toner and skin whitening agents, as apart from the improvement in the external appearance it also enhances the overall skin and repairs the damaged cells. Consumers are classifying skin care products as per the occasion, for instance, the consumers are classifying the skincare routine on the basis of different times of day like the day cream, night cream and cream which are suitable for work & others and are thus preferring to use products that are handy and easy to use. The consumer is rapidly adopting the night cream, especially by the generation Z as the night cream absorbs active ingredients better as the cells of the skin has higher regeneration power at night, and day cream or other thick skin is not suitable for the skin as it clogs the skin pores and disrupts the normal breathing of the skin. The strong awareness about the benefits of the night cream among the consumers is motivating the manufacturers of the night cream to focus and offer novel products in the night cream market. The stakeholders are investing and putting in rigorous efforts in the enhancement of the night cream products. This is expected to enhance the revenue growth and market of the night creams during the forecasted period.
Consumers are highly demanding premium night cream that are exclusively equipped with patented and innovative technologies and have multi-functional skincare benefits. To meet the expectations and demand of the consumers, the players of the market are concentrating and investing in the research and development activities to launch the novel product lines in the night cream market and is focusing on combining several ingredients in one single advanced product to increase the application of the products. The companies are also focusing on enhancing the packaging and market activities to gain market share and visibility among the consumers. The extensive offering of the night creams including the new and innovative products with the frequent improvement in the product packaging has significantly increased the competition among the companies operating in the market to gain the market share.
The growth of the night cream market is driven by the anti-aging and moisturizing features. The consumers are preferring products with natural ingredients such as green tea extract and aloe vera which will not have any adverse effect on the skin. To keep up with the demand, the manufacturers are following popular strategy to attract more consumers by continual innovating their products branding and advertising strategies with the motive of surge in the sales. Innovative strategies adopted by the manufacturing companies to boost the sales of their products, include product launches with natural ingredients and appeal packaging. For instance, in February 2018, Clarins launched the digital campaign Worth the Wrinkle” to target younger consumers and to know about their views on aging and on to look perfect.
The offline channel of distribution holds the largest share as the consumers prefer to check the ingredients, contents, and its value-added features before purchasing and also the time delay in the deliver of the goods is shifting the preference of the consumers towards the offline channel. In the term of the region, Europe holds the largest share and is driven by the rise in the products in the countries such as Germany, United Kingdom, and France and the concentration of a large number of manufactures in the region such as Beiersdorf AG, L’Oréal SA, Avon Inc., and Shiseido Group is also contributing to the regional growth of the night cream market. Whereas, Asia Pacific is expected to hold the highest CAGR in the forecasted period due to the rising demand in China, India, and Japan, for instance, in India, due to rise in skin problems and preference for products with whitening and hydrating properties is leading to higher demand.
Due to the high demand witnessed in the region of Europe and Asia-Pacific, new players are entering the market by offering innovative products. The entry of new players in the market and the wide-spread product offerings with innovative, multi-functional, and appealing packaging is anticipated to boost the demand for the night cream market during the forecasted period.
As a part of the report, the major players operating in the night cream market, which have been covered are Beiersdorf, L’Oréal SA, Shiseido Co., Ltd., Estée Lauder Inc., Amway Corporation, Guerlain, P&G, The Himalaya Drug Company, and Clinique Laboratories, LLC
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