The global body firming creams market is set to a see an expansion in size over the forecast period of 2019 to 2027. The market is set to a show a steady CAGR (Compound Annual Growth Rate) which will not just create ample opportunities to keep the market players attentive but also improve the worth of the market significantly.
Some of the reasons that are helping the market move to a higher trajectory include increases focus on looks and a growing number of geriatric population. Besides, millennials efforts directed at looking their best versions online is leading to a massive demand for body firming creams.
Global Body Firming Creams Market: Competitive Landscape
The global body firming creams market is rife with developments that are not just crucial for players to take note of but also to understand how the market would operate over the coming years. An in-depth dive in can be had in our upcoming report.
The global body firming creams market is fragmented and prominent players in the market include L’Oréal S.A.; Beiersdorf AG; Clarins Group; Johnson & Johnson; Sol de Janeiro; ET Browne Drug Co. Inc.; The Procter & Gamble Company; Kao Corporation; Shiseido Company, Limited; and The Estée Lauder Companies Inc., among others. Players are focusing on improving their products. And, in order to stay ahead of their competitors, they resort to mergers and acquisitions. Also, strategic collaborations and partnerships are often witnessed.
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Global Body Firming Creams Market: Key Trends and Drivers
Certain factors are shaping the growth curve for Global Body Firming Creams Market. They are paving the way for how market would operate over the coming years. A glimpse is shared below.
- The world is witnessing a demographic shift. In 2018, history was created, when the number of people in the age bracket of 65 and above surpassed that of people in the age group of five and below. As per a study done recently, it is expected that by 2050, one in six people will fall in the age bracket of 65 and above and in certain regions such as North America and Europe the ratio would be one in four. With looks gaining centre stage and social media outing on the pressure to a whole new level, it won’t be wrong to say that the global body firming creams market is set to grow.
- Influencers on social media are bringing youth and fashion to the forefront. As they speak about how to maintain skin and health, they bring to the limelight a plethora of products. This, in turn, is creating a new normal of beauty. This new standard is flawless. And, thus there is a marked increase in products that keep people youthful such as body firming creams. Thus, it surprises none to find out that this is driving demand into the body firming creams market.
Global Body Firming Creams Market: Geographical Analysis
In 2018, North America dominated the market and a rapidly ageing population is set to keep the crown intact. As said earlier, population in Europe is ageing too – pace quite at par with North America and thus it will see growth too.
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Another region that will chart a good growth curve is that of Asia Pacific (APAC) owing to a strong beauty influence and a rise in disposable incomes, a result of robust economies. Besides, there is a decent number of international players entering the market to slice a big chunk of untapped growth opportunities in this region. This is also a consequence of countries trying to improve their ease of business indices to entice more investment into the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.