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BB Cream Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global BB Cream products market was valued at USD 1,903.6 million in 2021 and is expected to grow at a CAGR of 5.7% from 2022 to 2029. BB cream is a type of cosmetic product that functions as a foundation and a moisturizer as well as providing coverage with an SPF of 20-50. It has become increasingly popular among the youth and is being used as an alternative to heavier foundation and concealers. Furthermore, the increasing popularity of multi-functional makeup products is driving the market growth.
The growing demand for products with natural ingredients has led to the emergence of various organic BB cream products. These products are formulated with natural and organic ingredients that are gentle on the skin and have minimal side effects. In addition, the increasing demand for BB creams from the rising middle-class population in developing countries is further driving the market. For example, in December 2021, L’Oréal India launched its first BB cream, Instant Glow BB cream, in the Indian market.
Moreover, the increasing demand for products with multiple benefits is expected to have a positive impact on the market. For instance, in November 2021, Garnier launched its SkinActive BB Cream, a 5-in-1 product that can be used as a moisturizer, foundation, concealer, primer, and sun protector. Furthermore, the increasing demand for BB creams from the male population is expected to drive the market. For example, in November 2021, Tom Ford launched its Tom Ford for Men BB Cream, targeting the male population.
The rise in the popularity of K-Beauty products is expected to drive the market in the coming years. K-Beauty products are gaining popularity across the globe due to their ability to provide moisture and hydration to the skin. For instance, in March 2022, Innisfree launched its new BB Cream which is designed to provide hydration and coverage to the skin. In addition, the increasing demand for BB creams from the e-commerce sector is expected to drive the market. For instance, in April 2022, Amazon launched its private label BB cream, the Amazon Solimo BB cream, targeting the e-commerce sector.
Product Insights
The BB cream segment accounted for the largest market share of 55.2% in 2022. BB creams are gaining high popularity among consumers owing to their multifunctional properties such as moisturizing, sun protection, and others. The growing demand for natural products has driven the growth of this segment. Furthermore, the emergence of customized products with different shades and texture has boosted the demand for these products across the globe. Additionally, prominent brands such as L’Oreal, Olay, and Maybelline are focusing on developing technologically advanced BB creams in order to meet the rising demand.
The CC cream segment is estimated to expand at the fastest CAGR of 10.3% over the forecast period. CC creams are gaining popularity among individuals due to their ability to provide long-lasting hydration and coverage. Moreover, increasing number of manufacturers offering CC creams with different ingredients such as SPFs and antioxidants has propelled the growth of this segment. Furthermore, the growing demand for organic and natural products among consumers is contributing to the growth of this segment.
Distribution Channel Insights
The beauty stores segment held the largest share of over 35.2% in 2022 owing to the presence of a large number of beauty stores across the world. The convenience of purchasing BB creams through beauty stores has driven the segment growth. Beauty stores offer a wide variety of products to choose from, thus encouraging consumers to visit physical stores and purchase products. In addition, customers receive personalized assistance from the sales representatives, which helps them in making informed decisions while purchasing BB creams.
The online segment is anticipated to expand at the highest CAGR of 11.2% over the forecast period. The emergence of e-commerce has allowed companies to reach a larger consumer base and increase their product sales. The availability of a wide variety of BB creams on various e-commerce portals, with attractive discounts and offers, is driving the segment growth. Moreover, the increasing penetration of internet and smartphones is further augmenting the segment growth.
Type Insights
The mass segment accounted for the largest market share of 55.2% in the year 2022. BB creams are popular across all age groups, especially among young consumers. With the increasing trend of makeup and skincare, the demand for BB creams is also increasing as it is a multi-functional product and provides a wide range of benefits to its users. The affordability factor of mass products is a major factor that has increased the demand for mass products. Increasing awareness about the benefits of BB creams and the presence of a wide range of products in the market are expected to drive the mass segment.
The premium segment is anticipated to expand at the highest CAGR of 8.3% over the forecast period. The premium segment is driven by the rising demand for natural and organic ingredients in BB creams. Companies such as L’Oreal, Estee Lauder, and Shiseido are focusing on producing premium BB creams with natural and organic ingredients. Moreover, the increasing demand for anti-aging products is further fueling the growth of the premium segment. Additionally, the increasing disposable income of consumers in developing countries such as India and China is driving the growth of the premium segment.
Regional Insights
Asia Pacific is expected to account for the largest revenue share of over 45% in 2022 due to the increasing demand for BB creams among consumers in the region. Additionally, several local manufacturers are expanding their product portfolios and introducing new products in the market, which is further boosting the market growth. For instance, in April 2021, the Korean cosmetics brand, Nature Republic, launched a new BB cream product with a slim fit feature that offers a smooth and radiant finish.
North America is expected to witness the second-fastest growth in the coming years due to the increasing demand for BB creams from the region’s growing millennial population. Additionally, the rising popularity of Korean beauty products is creating a surge in demand for BB creams in the region. For instance, in August 2020, the American beauty brand, It Cosmetics, launched the Confidence in a Cream hydrating moisturizer, which is a multitasking BB cream.
Financial Projections
In this part of the BB cream products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your BB cream products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a BB cream products business comes from the sale of the product itself, as well as from advertising and promotions. Other possible sources of profit could include special collaborations with other brands, the sale of related merchandise, and the inclusion in special edition beauty boxes.
Projecting Expenses
In this section, all the regular expenses related to keeping the BB cream products business running will be described. The list of operating expenses includes product costs, advertising and promotion costs, labour costs, utility bills, insurance policies, rent and other overhead costs.
Key companies & market share insights
Some of the key companies operating in the BB cream market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In May 2022, L’Oréal Paris launched its new BB cream, True Match BB Cream, designed to provide sheer coverage and a naturally radiant finish.
– In July 2022, Maybelline New York launched its BB cream, Super BB cream, which offers a variety of skin tone shades and coverage options.
– In August 2022, Neutrogena launched its BB cream, Visibly Even BB Cream, which is designed to reduce the appearance of dark spots and uneven skin tone.
Some of the prominent players in the BB cream market include:
– L’Oréal Paris
– Maybelline New York
– Neutrogena Corporation
– Estée Lauder Companies, Inc.
– Shiseido Co., Ltd.
– La Roche-Posay
– Physicians Formula
– Olay
– Smashbox
– Garnier
Global BB Cream Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global BB Cream Products market based on product type, distribution channel, price range and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– BB Cream
– BB Corrector
– BB Makeup
– BB Foundation
– BB Concealer
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Price Range Outlook (Revenue, USD Million, 2017 – 2030)
– Low
– Medium
– High
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Trends in the Global BB Cream Products Market?
[A]: Major trends in the global BB cream products market include the increasing popularity of natural and organic ingredients, the rising demand for multi-functional products, and the growing popularity of men’s BB cream products.
[Q]: Which Regions are Expected to Exhibit High Growth Potential in the BB Cream Products Market?
[A]: Asia-Pacific is expected to be the largest and fastest-growing regional market for BB cream products. This region is expected to be driven by the growing demand for BB cream products for skin whitening, anti-aging, UV protection, and acne treatment.
[Q]: Who are the Key Players in the BB Cream Products Market?
[A]: The key players in the global BB cream products market are Estee Lauder Companies Inc., L’Oreal S.A., Johnson & Johnson Consumer Inc., Unilever, and Shiseido Company Limited.
[Q]: What are the Factors Driving the BB Cream Products Market?
[A]: Factors driving the global BB cream products market include increasing demand for multi-functional products, rising awareness about the benefits of BB cream products, and the growing popularity of natural and organic ingredients.
[Q]: What are the Challenges Facing the BB Cream Products Market?
[A]: Challenges facing the global BB cream products market include the high cost of production, the lack of awareness among consumers, and the increasing competition from counterfeit products.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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