The global BB cream market size is expected to reach USD 5.41 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 14.4% during the forecast period. The market is expected to witness significant growth owing to the rising popularity of multifunctional products among young men and women. The BB cream, also called as beauty balm or blemish balm, is a combination of moisturizer, sunscreen, foundation, and primer, as well as works as anti-aging serum.
BB cream has maintained strong position in the global skin care market. Increasing disposable income coupled with awareness regarding skin health among men and women has increase demand for innovative and quality products such as BB cream. Moreover, growing demand for natural and organic products in developed countries is projected to fuel the product demand over the forecast period.
Blemish balm or beauty product is also called as all-in-one product, as it provides protection form UV radiation, as well as hydration and anti-aging effect. Popularity of beauty cream has spread in Asia, especially in Korea, China, and Japan. Along with various benefits, the fact that it helps reduce the time require for make-up has attracted many young consumers. Followed by Asia, popularity of BB cream has spread in the western world. Since 2012, blemish balm has witnessed substantial growth in developed countries and has maintained its prominent position in the beauty and personal care market in U.S.
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Further key findings from the report suggest:
- In terms of revenue, tube/bottle segment is projected to ascend at a CAGR of 14.5% over the forecast period
- Offline segment led the global market with an overall revenue share of over 91.2% in 2018
- Air cushion segment was valued at USD 55.9 million in 2018, is projected to exhibit a significant growth in the next few years
- Asia Pacific led the global BB cream market in 2018, with 40% of the revenue share and is projected to continue witnessing similar growth over the next few years
- The market is highly competitive in nature with the main players such as L’Oréal S.A.; Unilever; The Estee Lauder Companies Inc.; Shiseido Company, Limited; Christian Dior SE; Missha US Inc.; Avon Products, Inc.; L’Occitane; AMOREPACIFIC CORPORATION; and ETUDE HOUSE, Inc. The manufacturers concentrate on new product launches and product innovation to increase the consumer base.