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Night Creams Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global night creams market size was valued at USD 2.4 billion in 2022 and is projected to expand at a CAGR of 4.1% from 2023 to 2030. The market is driven by the growing demand for night creams from the beauty and personal care industry. The increasing focus of people on skin care is expected to drive the market in the coming years. The growing concerns about premature skin aging, wrinkles, and fine lines are further driving the demand for night creams.
Moreover, the rising demand for organic and natural night creams is expected to further drive the market. The increasing awareness regarding the use of night creams is anticipated to drive the market over the forecast period. Furthermore, key market players are introducing new products to cater to the changing needs of consumers. For instance, in December 2021, L’Oréal Paris launched its new Age Perfect Hydra Nutrition Night Cream. The product is designed to provide intense nourishment to mature skin and improve skin complexion.
The increasing number of women entering the workforce is expected to further drive the market in the near future. Moreover, the increasing disposable income among urban population is also expected to drive the market. Furthermore, an increase in the number of product launches with innovative features is expected to boost the market over the forecast period. For instance, in February 2021, The Body Shop launched its new Drops of Youth Youthful Night Cream, which is formulated with edelweiss stem cells, for a more youthful and glowing skin.
The increasing demand for night creams from the developing countries is further expected to drive the market in the near future. The rising awareness of night creams among millennials and Gen Z is also expected to boost the market over the forecast period. Furthermore, the increasing demand for night creams from the e-commerce platform is expected to provide potential opportunities for the market in the coming years.
Product Insights
The night creams segment is estimated to account for the largest market share in 2022. Increasing demand for night creams is attributed to the growing awareness regarding the importance of skin care products. According to an article published by The Guardian, in November 2019, a survey conducted by the British Skin Foundation revealed that one-third of adults in the UK use night creams. This is due to the fact that night creams help to repair skin damage caused by environmental factors such as sun exposure and pollution. In addition, the increasing demand for anti-wrinkle and anti-aging products globally is another factor driving the growth of the market.
The moisturizers segment is projected to expand at the fastest CAGR of 8.3% over the forecast period. Growing awareness regarding the health benefits of using moisturizers, increasing demand for natural and organic products, and the emergence of various moisturizers brands are some of the key factors driving the demand for moisturizers. Furthermore, the increasing penetration of e-commerce platforms, such as Amazon and eBay, is providing a boost to the market. According to an article published by Statista, in June 2019, the e-commerce sales of skin care products in Europe is estimated to reach USD 19.4 billion in 2020.
Distribution Channel Insights
The supermarkets and hypermarkets segment dominated the market, accounting for over 41.3% of the market in 2022. The segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase beauty and personal care products. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required skincare product.
The online segment is anticipated to expand at the highest CAGR of 12.6% over the forecast period. E-commerce development in the personal care and skincare industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in December 2022, Nykaa launched NykaaMan.com dedicated to men’s grooming. The website will offer brands across categories like shaving, hair care, grooming kits, bath & body, beard care, sexual wellness, and sports nutrition. In addition, it will also offer the best brands and products for night creams, along with expert advice and opinions on choosing the best regime.
Type Insights
The mass segment accounted for the largest revenue share of 68.2% in the year 2022. The growing demand for mass night creams from the middle-income group in the developing countries such as India and China is driving the growth of this segment. The mass segment offers cost-effective products with a wide range of product options for different skin types. The companies are launching products in the mass segment with natural ingredients such as Vitamin E and green tea to attract consumers. For instance, in April 2021, Neutrogena, a brand of Johnson & Johnson, launched its new range of night creams with Vitamin E and green tea extracts.
The premium segment is expected to expand at the highest CAGR of 8.9% over the forecast period. The premium segment offers products with high quality ingredients that provide maximum skin benefits. Companies are launching innovative and luxurious products in the premium segment to attract consumers. For instance, in June 2021, Estée Lauder launched its new range of night creams with advanced ingredients such as retinol, caffeine, and hyaluronic acid. Furthermore, the increasing trend of night creams among men is expected to spur the growth of the premium segment.
Regional Insights
Europe accounted for the largest market share in 2021, owing to the presence of a large number of manufacturers in the region. Moreover, the rising awareness among consumers regarding the benefits of night creams is expected to drive the growth of the market in the region. For instance, in April 2021, Vichy launched its new night cream with a combination of glycolic acid and hyaluronic acid to improve skin hydration and reduce wrinkles.
The Asia Pacific is expected to witness the fastest growth in the coming years. An increase in disposable income and the growing demand for skin care products are some of the primary factors driving the growth of the market in this region. Additionally, rising awareness among women regarding the benefits of night creams and the presence of prominent players, such as Shiseido, L’Oréal, and Unilever, are some of the other factors driving the growth of the market in the region.
Financial Projections
In this part of the night creams 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 night creams products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a night creams products business comes from product sales, subscriptions, and advertising. Here you will find a list with a description of each of them and other possible sources of profit such as partnerships, sponsorships, affiliate programs, and discounts.
Projecting Expenses
In this section, all the regular expenses related to keeping the night creams products business running will be described. The list of operating expenses includes product manufacturing and packaging, marketing and advertising, employee wages, web hosting, software subscription, rent and utilities, insurance policies, and others.
Key companies & market share insights
Some of the key players operating in the night creams 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 June 2022, L’Oréal launched its new night cream called Revitalift Triple Power LZR.
– In October 2022, Estée Lauder launched its new night cream, Advanced Night Repair.
– In November 2022, Shiseido launched the White Lucent Intensive Spot Targeting Serum+ Night Cream.
Some of the prominent players in the night creams market include:
– L’Oréal SA
– Estée Lauder Companies, Inc.
– Shiseido Co., Ltd.
– Unilever
– Procter & Gamble Co.
– Beiersdorf AG
– Johnson & Johnson
– Kao Corporation
– The Clorox Company
– Avon Products, Inc.
Global Night Creams 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 night creams products market based on product type, distribution channel, end use, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Anti-Aging
– Hydrating
– Brightening & Whitening
– Firming & Lifting
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. End Use Outlook (Revenue, USD Million, 2017 – 2030)
– Men
– Women
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What Factors are Driving the Growth of the Night Creams Market?
[A]: The growth of the night creams market is driven by rising consumer awareness about the benefits of night creams, increasing disposable incomes, the growing popularity of natural and organic ingredients, and the growing demand for multi-functional products. Additionally, technological advancements, such as the introduction of AI, are expected to drive market growth.
[Q]: Which Region Offers the Largest Opportunity for Sales of Night Creams?
[A]: Asia Pacific is expected to be the largest market for night creams during the forecast period, owing to the presence of a large number of players in the region and the growing demand for beauty and personal care products.
[Q]: Who are the Key Players in the Night Creams Market?
[A]: Key players in the night creams market include L’Oréal, Unilever, Beiersdorf AG, Procter & Gamble Co., Shiseido Co., Ltd., Kose Corporation, Avon Products, Inc., Johnson & Johnson, Revlon, Inc., and Amway Corporation.
[Q]: What are the Trends in the Night Creams Market?
[A]: Trends in the night creams market include the increasing demand for natural and organic ingredients, the growing popularity of multi-functional night creams, and the introduction of technologically advanced products. Additionally, the growing demand for anti-aging products and the increasing use of night creams as a base for makeup are driving market growth.
[Q]: What are the Opportunities in the Night Creams Market?
[A]: Opportunities in the night creams market include the increasing popularity of natural and organic ingredients, the increasing demand for multi-functional products, and the introduction of technologically advanced products. Additionally, rising consumer preference for night creams as a base for makeup and the growing demand for anti-aging products are expected to offer potential growth opportunities.
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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