The Latin America, Middle East and Africa Skin Lightening Products Market would witness market growth of 5.8% CAGR during the forecast period (2022-2028).
An increase of pigment in the skin is known as hyperpigmentation. This occurs when the skin's natural pigment, melanin, is overproduced. Hyperpigmentation appears on the skin as darker, uneven blotches or patches of color in various regions. Exposure to UV and sun damage, accidents, acne, hormone imbalances, and skin inflammation are all common causes of this unpleasant condition.
Dark spots resemble hyperpigmentation in that they appear as areas that are darker in color than the surrounding skin. These spots are also known as liver spots, age spots, or warts, and they come in a wide range of sizes and forms. Dark spots are produced by solar damage and sun exposure, hormone swings, skin inflammation, healing wounds, and a variety of medical problems, similar to hyperpigmentation.
The fastest-growing centers of emerging countries are due to rising consumer demand for daily grooming cosmetics in countries like Brazil and Chile, which is propelling the region's market expansion. According to the Brazilian Association of Personal Hygiene, Perfume, and Cosmetic Industry, cosmetic product sales in Brazil increased by 0.6 percent in value and 2.8 percent in volume in 2020 compared to 2019. Furthermore, rising income levels of the population in countries such as Argentina and Chile, together with their spending on beauty products, would support regional market growth in the coming years.
In addition to women, the cosmetic culture is gaining popularity among other categories of people. In addition, the region's untapped potential is enticing additional skin lightening product companies to enter and boost their market share in the coming years.
Brazil's people are actively seeking skin lightening or environmentally beneficial goods. A substantial age group in the LAMEA region is deeply engaged in the fashion sector, and as a result, these individuals require a consistent supply of high-quality cosmetics.
The Brazil market dominated the LAMEA Skin Lightening Products Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $177.5 Million by 2028. The Argentina market is poised to grow at a CAGR of 6.4% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 5.6% during (2022 - 2028).
Based on Product, the market is segmented into Creams, Cleanser, Mask, and Others. Based on Nature, the market is segmented into Synthetic, Natural, and Organic. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Skin Lightening Products Market is Predict to reach $13.5 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L'Oreal Group, The Procter and Gamble Company, Unilever PLC, Shiseido Company, Limited, Beiersdorf AG, The Himalaya Wellness Company (Himalaya Global Holdings Ltd.), Kao Corporation (Kanebo Cosmetics, Inc.), Vlcc Health Care Limited, Avon Products, Inc., and Dabur India Ltd.
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