The older population’s demand for Anti-aging Night Creams and consumers’ growing use of skincare products are the main Anti-aging Night Creams market drivers. In 2019, there were 703 million people who were 65 or older, and by 2050, there are projected to be 1.5 billion of them. Due to growing knowledge of the negative effects of using such products, the use of goods containing synthetic components such petroleum-based compounds, aluminium salts, phthalates, and aluminium salts is dropping in the global market for Anti-aging Night Creams.
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The demand for night cream products with anti-aging, skin-lightening, and effective moisturising capabilities is however influenced by the favourable view of natural or organic skincare and cosmetics. Consumers have chosen natural ingredients like green tea extract and aloe vera as their favourite ingredients because their products repair damaged skin and delay the signs of aging.
Manufacturers to Leverage Increasing Popularity of Online Platforms
- While the penetration of night cream products in online stores is high, physical stores or offline channels contribute the highest value share in the global night cream market at present.
- Offline stores, including supermarkets/hypermarkets, specialty stores, and drug stores & pharmacies hold majority of the market share, owing to their higher presence as compared to online channels.
- The presence of big brands such as Walmart and Amazon has led to increasing consumer confidence toward online shopping. Moreover, the availability of a wide variety of products from different vendors, lower prices as compared to offline stores, product comparison, secure payment, easy return policy, and doorstep delivery are factors that are boosting the sales of Anti-aging Night Creams through online channels.
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Anti-aging Night Creams Market: Competition and Regional Overview
The global Anti-aging Night Creams market represents a fairly consolidated competition landscape, where a majority of key players maintain strategic focus on product development and frequent product launches. In Dec. 2019, Murad Skincare launched a youth renewal night cream that provides a lightweight finish along with a rich texture. North America is the second-largest region in the global night cream market. Frequent skincare product launches, high product awareness, along with significant concentration of international players in this region account for higher sales of night cream products in North America.
Analysts’ Viewpoint
A brief overview of the changing landscape of the night cream market has led our analysts to conclude that, the market is set for decent growth over the period of forecast. Key manufacturers in the night cream market, such as L’Oréal, Shiseido Co. Ltd., and Estee Lauder are prioritizing innovation and new formulation developments, such as vesicular delivery systems and emulsion delivery systems, to gain a competitive edge in the market. Most companies are currently focusing on deep moisturizing applications, where anti-aging and anti-wrinkle have been identified as the key application areas for success in the foreseeable future.
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