According to a new report published by Allied Market Research titled, “Night creams market by Product Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” The global night creams market size was valued at $7.1 billion in 2018, and is projected to reach $11.4 billion by 2026, registering a CAGR of 6.4% from 2019 to 2026. The global moisturizing cream segment was valued at $4.1 billion in 2018 and is anticipated to reach $5.9 billion by 2026, with a CAGR of 5.4% during the forecast period.
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Night cream products enhance skin revitalization through its rich moisturizing effects. Most of the night creams help in preventing epidermal moisture loss and also provide ample lubrication. Night creams with Melatonin (strong antioxidant molecule) improve the penetration of the Mel molecules through the skin layers, thereby, preventing skin ageing. Creams comprise of Melatonin have been developed (Nutriage day cream and Nutriage night cream) and commercialized in the night creams market. These products are gaining popularity among working population of age between 25-40 years. The outstanding benefits coupled with skin friendly ingredients have boosted the adoption among the consumer base. Women with skin aging issues have significantly received skin tonicity and skin hydration and also witnessed reduction in skin roughness with the help of night cream products.
Night cream cosmetic products have gained popularity owing to its antioxidants and anti-wrinkle content, which helps in reducing the pace of skin aging. Nigh cream products are also sought for its skin whitening and moisturizing attributes among millennial and generation Z. Skin whitening night cream contains common ingredients such as AHA, BHA*, Retinol, Vitamin A, and others. These ingredients enhance the skin brightness when used along with other skin care regime such as SPF 30. The presence of such multifunctional night cream products in the market and ever increase in demand for multifunctional cosmetic products have propelled the revenue growth of the overall night creams market. The companies with wide spread product portfolio of night creams are targeting specific group of consumers through their innovative marketing strategies. These companies are conducting sessions or programs to increase awareness among the targeted group of consumers.
The night creams market is segmented on the basis of product type, distribution channel, and region. By product type, it is categorized into moisturizing cream, anti-aging cream and skin whitening cream. The global Anti-aging Cream segment was valued at $2.2 billion in 2018 and is anticipated to reach $2.3 billion by 2026, with a CAGR of 7.5% during the forecast period. By distribution channel, it is categorized into Retail Pharmacies, Convenience stores, Supermarket/Hypermarket and E-commerce. The e-commerce night creams market was valued at $1.4 billion in 2018, and is projected to reach $2.7 billion by 2026, growing at a CAGR of 8.6% from 2019 to 2026.
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Region-wise, night creams market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa). North America and Europe collectively accounted for around 65.4% share in 2018, with the former constituting around 35.2% night creams market share. The establishment of beauty retailers such as Sephora and Ulta, have drastically influenced the trend of cosmetics, especially among millennials. They have gained traction with shoppers by offering in-store experience which boost the night creams market growth in the region. According to the Mexican Chamber of Cosmetic Products (CANIPEC), the entrance of prestigious skincare brands into the Mexican market led to a notable market growth percent with direct selling as their largest distribution channel for beauty products.
Key Findings of the Study
- The Skin whitening creams segment is expected to grow at a CAGR of 7.8% during the forecast period.
- North America is anticipated to dominate the Night creams market growth, registering a CAGR of 5.8% during the forecast period.
- Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 6.7% during the forecast period.
- The Convenience stores distribution segment is anticipated to dominate the global Night creams market analysis, with a CAGR of 8.1% during the forecast period.
- The E-commerce segment is estimated to grow at a CAGR of 8.6% during the forecast period.
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The key players operating in the global night creams industry include Shiseido Co. Ltd., Solstice Holding, Estee Lauder Companies, Clinique Laboratories, L’Oreal S.A., Procter & Gamble, Unilever PLC, VLCC Health Care, Himalaya Global Holdings, Beiersdorf AG and Guerlain. Other key vendors analyze in the study are Elizabeth Arden, Clarins and Nivea, Lancome, Avon, Revlon, among others
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