CC Cream Market to Grow with a CAGR of 7.3% Globally through 2028
Rising skincare
awareness and growing demand for natural and organic skincare products are
driving the Global CC Cream Market in the forecast period 2024-2028.
According to
TechSci Research report, “Global CC Cream Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global CC
Cream Market stood at USD 490.12 Million in 2022 and is anticipated to grow
with a CAGR of 7.3% in the forecast period, 2024-2028. The global CC cream
market has witnessed substantial growth and transformation in recent years,
driven by evolving consumer preferences and a demand for multifunctional beauty
products. CC creams, or "color-correcting" creams, have emerged as a
popular choice among consumers seeking efficient and effective skincare and
makeup solutions in a single product.
CC creams have
gained prominence for their multifunctional properties. They offer a
combination of skincare and makeup benefits, providing hydration, sun
protection, color correction, and sometimes even anti-aging benefits. This
multifunctionality aligns with the growing trend of consumers seeking products
that simplify their beauty routines without compromising on the quality of care
for their skin. The convenience of a single product that addresses multiple
skincare needs has been a significant driver of the CC cream market's growth.
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"CC Cream Market”
An essential
feature of many CC creams is their inclusion of sun protection, typically in
the form of SPF. With increasing awareness of the harmful effects of UV
radiation on the skin, consumers are prioritizing sun protection as a crucial
element of their daily skincare regimen. CC creams with SPF have become a
preferred choice for individuals looking to combine makeup and sun protection.
This demand for sun-safe cosmetics has fueled the growth of CC creams,
particularly those with SPF levels exceeding 30.
In line with the
broader clean beauty movement, consumers are becoming more conscious of the
ingredients in their beauty products. They are seeking CC creams formulated
with natural and organic ingredients and are increasingly concerned about the
presence of harmful chemicals. Brands that prioritize clean and sustainable
formulations are gaining favor among environmentally conscious consumers. This
trend extends to eco-friendly packaging practices, such as recyclable or
refillable containers, which appeal to those looking for sustainable beauty
options.
Inclusivity has
become a crucial consideration in the beauty industry, and the CC cream market
is no exception. Consumers are demanding a more extensive range of shades that
cater to diverse skin tones. Brands are expanding their shade offerings to
ensure that individuals with fair, medium, deep, and darker skin tones can find
a suitable match. Inclusivity not only fosters a brand's reputation for
diversity and representation but also broadens its customer base. Brands that
embrace shade inclusivity are resonating with a broader and more diverse
audience.
The rise of
online sales channels, including e-commerce platforms and beauty-specific
websites, has significantly impacted the CC cream market. Consumers are
increasingly turning to online channels for their beauty purchases due to
convenience, access to a vast product assortment, and the ability to read
reviews and product information before making a decision. The COVID-19 pandemic
further accelerated this trend as lockdowns and social distancing measures
limited in-store shopping opportunities. Brands are adapting their strategies
to enhance their online presence, offering virtual try-on features,
personalized product recommendations, and online tutorials to improve the
customer experience and navigate the challenges posed by online competition.
In conclusion,
the global CC cream market continues to evolve in response to changing consumer
preferences and beauty trends. The multifunctionality and skincare benefits of
CC creams, coupled with their sun protection factor, clean formulations, shade
inclusivity, and the increasing role of online sales channels, have contributed
to the market's growth. As consumers prioritize efficiency, effectiveness, and
sustainability in their beauty products, CC creams are well-positioned to meet
these demands and maintain their relevance in the global beauty and skincare
landscape.
The Global CC
Cream Market is segmented into type, sales channel, regional distribution, and
company.
Based on type the
market is segmented into Below 15 SPF, Between 15 to 30 SPF, Above 30 SPF. The Global CC
Cream Market is witnessing a notable surge in demand for CC creams with SPF
(sun protection factor) levels exceeding 30. This trend is fueled by growing
awareness of the importance of sun protection in daily skincare routines.
Consumers are increasingly seeking CC creams that offer higher SPF levels to
effectively shield their skin from harmful UV radiation. These products provide
a dual benefit, offering both color correction and robust sun protection,
making them particularly attractive to those who value convenience and
comprehensive skincare in a single product.
Based on sales channel
the market is segmented into supermarkets/hypermarkets, specialty stores,
online and others.
Based on region
the market is segmented into five regions, North America, Europe, Asia Pacific,
Middle East & Africa, and South America.
Major companies
operating in Global CC Cream Market are:
- Chanel
Inc.
- KOSÉ
Corporation
- Natura
Supply Co.
- L'Oreal
SA
- Unilever
plc
- Estee
Lauder Companies Inc.
- Re'equil
- Procter
& Gamble Co.
- L'Occitane
Limited
- Oriflame
Cosmetics Global SA
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“Rising demand
of natural and organic formulations in CC cream is a significant trend that is
expected to have an impact on growth over the forecasted period. Rising skincare
awareness, increasing innovations in formulations, and advanced
skincare benefits of CC cream will positively impact the Global CC Cream Market.
Due to the wide range of products available to meet specific needs of, as well
as the growing popularity of the online sales channel, the market is growing at
impressive rate through projected period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“CC Cream Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Type (Below 15 SPF,
Between 15 to 30 SPF, Above 30 SPF), By Sales Channel
(Supermarkets/Hypermarkets, Specialty Stores, Online, Others), By Region, By
Competition, 2018-2028”, has evaluated the future growth potential
of Global CC Cream Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global CC Cream
Market.
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