BB cream stands for blemish balm, beblesh balm, and blemish base that contain antioxidants and other anti-aging ingredients that are useful in treating the skin. The growing consumer awareness regarding skin health and changes in preferences toward cosmetics and personal care industry, backed by increase in purchasing power in the hands of the consumers boost the growth of the global BB cream market. An all-in-one product that acts like a moisturizer, foundation, primer, and concealer surges its application and utility, implying a greater demand in the market.
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Application, Distribution Channel, Industry Vertical, and Region|
|Regions covered||North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||L’Oréal International, Christian Dior SE, The Estée Lauder Companies Inc., Shiseido Company ltd., Revlon Inc., Amorepacific Group., INGLOT Cosmetics, ABLE C&C Co. Ltd., Coty Inc., Avon Products Inc.|
COVID-19 Scenario Analysis:
Production shut down scenario
Due to the COVID-19 implications, the manufacturing operations for the industry could not be executed and this led to a decline in the revenue for the firm. The amount of stock produced also got reduced and this disrupted the supply and distribution channels.
Decline in demand generation
The COVID-19 outbreak led to the contraction of markets and this hampered the demand for cosmetic products. A hit on the economy declined the purchasing power, owing to a reduction in expenditure for the personal care products.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
A product with multi utilities is always accepted in the market and BB cream is one such multi-function cream which can be applied for yielding diverse benefits varying from being a good base for makeup to anti-ageing properties. Though there are some trends emerging for organic, herbal, and natural skincare products, these restrain the global BB cream market growth. The leading market players make the product available in different forms and in multiple shades to serve the consumer skin type and preferable choice of application.
The global BB cream market trends are as follows:
New product launches to flourish the market
The launch of new products that contain improved capabilities have been launched by leading market players and this improvised version attracts the consumer attention. Surge in consumer trends toward good looks and a confident lifestyle boost the product demand.
BB cream is deemed as a multi-purpose product and this widens its application and boosts the demand in the market. The diverse benefits include skin moisturisation, anti-aging properties, treating the skin problems with antioxidants present in the cream, and yielding a clear and compact skin base. All these factors motivate the consumers to invest in one multi-utility product than investing in many different skin care essentials. The market growth is then driven by the rise in purchasing power and portion of expenditure on the cosmetics products. The product stands up to customer expectations at their convenience and flourishes the overall market.
Diversification of distribution channel
The distribution channel holds as much importance as the manufacturing of the product. Just as a product is manufactured keeping in mind the diverse customer requirements, such distribution channels are established that help in reaching out the masses and attract a greater consumer base.
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The distribution channels include the supermarkets and departmental stores; the exclusive cosmetics stores that deliver all the products of a particular brand, multi branded stores where the top brands compete with each other over the same counter enabling the customer a better comparison and the latest flexibility of online channels. These online channels allow customers to pick products as per their suitability, and to promote sales and gain consumer loyalty, the key market players often provide free samples of the products.
Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global BB cream industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global BB cream market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global BB cream market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global BB cream market analysis based on competitive intensity and how the competition will take shape in the coming years.
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