The global BB Cream Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global BB cream market is anticipated to reach USD 5.41 Billion by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 14.4% over the forecasted years, 2019 to 2025. The rise in the demand for multifunctional products that serve more than one purpose is the driving factor behind the market growth. Beauty balm or blemish balm are becoming popular among the millennials. They serve the purpose of sunscreen, moisturizer, primer as well as foundation.
Key Players:
- L'Oréal S.A.
- Unilever
- The Estee Lauder Companies Inc.
- Shiseido Company, Limited
- Christian Dior SE
- Missha US Inc.
- Avon Products, Inc.
- Amorepacific Corporation
- Etude House, Inc.
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Growth Drivers:
Changing lifestyles and increase in disposable income among the working population is expected to drive the market growth in the near future. Pollution and changing climatic conditions across various geographical regions have created the need for the usage of such creams. These creams prevent the harmful effects caused due to continuous exposure to ultraviolet rays, sunlight or dirt, thus are becoming popular among the millennials.
The BB creams are multifunctional skincare packaging which acts as a combination of moisturizers, primer and SPF. As they serve multiple functions, their demand is anticipated to increase in the developed as well as the developing regions of the Asia Pacific and the Middle East and Africa.
The demand for organic or natural packaging is free from the toxic chemicals, additives or parabens is expected to boost the market in the upcoming years. Thus, many of the key players have started manufacturing the products with natural, herbal or organic ingredients. This initiative by the manufacturers is expected to create a positive impact on the market growth during the forecasted period, 2019 to 2025.
The rise in the demand for skincare products among men is expected to surge during the upcoming years. To meet these demands, the key players have started offering various packaging offerings. As the demand for male grooming products is anticipated to grow in the upcoming years, the BB cream market is also expected to surge at a faster pace.
Along with skin protection, these creams also reduce the time required for doing the makeup and thus has attracted many consumers worldwide. The working population which does not have extra time for daily makeup are the main consumers for this product. The western countries like the U.S. are the second largest consumers of BB creams owing to its extensive usage in salons and spa as well as across the beauty and personal care industry.
Packaging Outlook:
- Tube/ Bottle
- Air - cushion
Distribution Channel Outlook:
- Offline
- Online
Regional Outlook:
The region of Asia Pacific held the largest share and accounted for 40.6%, in 2018. The industry for skincare is showing significant growth since the last few years. Also, the trend for the skincare market is moving from old consumers to the millennials. Rise in the disposable income among the consumers in countries like China, India and Bangladesh is also expected to drive the demand for such creams during the forecasted period, 2019 to 2025.
Europe held the second-largest share in the global market owing to the increase in the spending power among the consumers and due to the presence of the fashion industry. Considering the countries in Europe, Germany acquired the largest share in the BB creams market. As the majority of the consumers in this region are millennials, the preference of organic, anti-aging and chemical-free products is increasing. Thus, the manufacturers are trying to engage the consumers by selling such products.
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