Introduction:
Night creams are skin care products that are used before going to bed. They are designed to nourish and hydrate the skin while one sleeps, thereby providing a rejuvenated look when one wakes up. The night creams market has been growing in recent years due to the increasing demand for anti-aging and skincare products.
Market Size:
According to a new study by Persistence Market Research, the global night creams market generated a revenue of US$ 823.15 Mn in 2022. Worldwide demand for Night Creams Market is set to accelerate at 7.0% CAGR and top a market valuation of US$ 1,812.7 Mn by 2033. The growth of the market can be attributed to several factors, including the increasing aging population, rising awareness about skincare, and the growing demand for natural and organic products.
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Drivers:
- Growing awareness about skincare: There is a growing awareness among consumers about the importance of maintaining good skin health. This has led to an increased demand for skincare products, including night creams.
- Aging population: The global population is aging, with an increasing number of people over the age of 60. This demographic is more likely to use anti-aging products such as night creams to maintain a youthful appearance.
- Increasing disposable income: Rising disposable income levels have led to an increase in spending on personal care products, including night creams.
Restraints:
- High competition: The night creams market is highly competitive, with many established players and new entrants. This can lead to pricing pressures and reduced profit margins.
- Availability of alternative products: There are many alternative skincare products available, such as serums, face oils, and masks. These products may compete with night creams for consumer attention and spending.
- Regulatory challenges: The night creams market is subject to regulatory challenges, including safety and labeling requirements. These challenges can increase costs for manufacturers and limit product innovation.
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Market Segmentation:
Based on type, the market can be segmented into moisturizing night creams, anti-aging night creams, and others. Among these, the anti-aging night creams segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing demand for products that reduce fine lines and wrinkles.
Based on distribution channel, the market can be segmented into supermarkets/hypermarkets, specialty stores, online retailers, and others. The online retailers segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing penetration of e-commerce and the convenience it provides to consumers.
Based on geography, the market can be segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Among these, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to the increasing disposable income, rising awareness about skincare, and growing demand for natural and organic products.
Key Players:
The key players operating in the night creams market include Solstice Holding, Shiseido Co., Ltd., Procter & Gamble, Clinique Laboratories, CeraVe, Neutrogena, ELTAMD, Sente, FirstAid Beauty, Cetaphil, Augustinus Bader, SkinCeuticals, Olay.
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Conclusion:
The night creams market is growing rapidly due to the increasing demand for anti-aging and skincare products. The market is expected to continue its growth trajectory during the forecast period, driven by factors such as the aging population, rising awareness about skincare, and the growing demand for natural and organic products. The key players in the market are investing in product innovation and marketing strategies to gain a competitive edge.
Read More Trending “PMR Exclusive Article”- https://www.digitaljournal.com/pr/night-creams-market-to-witness-a-pronounce-growth-by-2027
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