The blue light skincare market is projected to grow at an exponential growth rate during the forecast period as the term 'digital aging' is gaining popularity. The adverse impacts of excessive use of laptops and smartphones on the health and skin of people have surged the demand for blue light skincare. As per the Unilever Science and Technology Study, around 30 hours of exposure to blue light may increase the inflammation level in the skin by 40%. Many cosmetic and skincare product manufacturers are capitalizing on the growing opportunity by introducing blue light skincare products.
Increased awareness among consumers and high disposable incomes are major driving factors for the demand for blue light skincare products. The rising number of working women populaces, particularly in the emerging economies is fueling the market growth. Moreover, the popularity of blue light skincare products among men and the growing focus on aesthetics is determining the market's growth trajectory during the studied time. The adoption of organically sourced blue light ingredients in cosmetics and personal care products will bolster the market growth in the coming years.
Excessive Usage of Smartphones and Laptops to Drive the Growth of Blue Light Skincare Market
In the last few decades, there has been a rapid surge in the demand for electronic gadgets such as smartphones, tablets, and laptops. Individuals today spend most of their time on smartphones or laptops. The amount of time people spend on smartphones has substantially risen in the past few years, resulting in health and skin disorders.
The daily exposure to blue light emitted from electronic devices such as smartphones and laptops may accelerate premature aging, among people. According to the research study of Oregon State University, the blue wavelengths emitted from the gadgets may harm cells in the retinas and the brain.
Around 64% of people across the globe are unaware of the impact of blue light on the skin, as per the statistics presented by Unilever Group. Blue light can penetrate and harm the skin in a similar way as UV rays. The prolonged exposure to blue light can cause damage to the skin and lead to other health effects such as sleeping disorders among many individuals. Today, there is a growing concern among people regarding air and light pollution, resulting in the search for products to safeguard health.
Personal care and cosmetic formulators are looking for ways to protect skin from harmful blue light and environmental pollution. The 55% increase in the time spent on social media and a 45% increase in gaming on smartphones is thus highlighting the higher use of blue light skincare products worldwide.
Growing Cosmetic Industry across the Globe to Provide Impetus to Market Growth
The cosmetic and personal care industry is undergoing an evolution and is extensively adopting natural ingredients. The cosmetic manufacturers are including natural environment-based ingredients in the formulation of their products. Moreover, the rising consumer demand for natural personal care products has led to the search for products with minimum chemicals and harmful toxins. Owing to the several advantages of organic blue light ingredients, cosmetic manufacturers are formulating strategies and finding ways to use them in skincare products.
Consumers are increasingly seeking products and services that are customized and tailor-made according to individual factors such as lifestyle, age, wellbeing, gender, health, and many others. People are embracing the advantages of blue light skincare products as the application of the product works as an agent in pushing toxins out through the pores and aids in skin exfoliation and cleansing.
The cosmetic manufacturers are attracted towards the blue light skincare ingredients as help in treating other types of skin disorders too. Several face masks and serums include blue light ingredients to improve skin texture and remove sunspots. Besides, the product is also used to treat acne problems and get rid of scars caused by acne. Blue light skincare products mark their presence in the cosmetics industry and are considered an essential product in today’s time.
Ease of Buying and Expanding E-Commerce Platforms to Hold the Largest Market Share
Online retail is projected to hold the largest market share in the global blue light skincare market during the forecast period. The one-day delivery options combined with huge discounts have attracted most people to shop online. The company seeking higher revenues is shifting to the omnichannel presence and channelizing efforts to increase digital presence.
Moreover, the expanding e-commerce platforms specializing in cosmetics and higher internet penetration are anticipated to propel segmental growth. E-commerce is reshaping the present retail industry and is anticipated to observe an upward trend. Today, consumers prefer buying blue light cosmetic products through online platforms for ever-increasing options at lower prices.
The B2C segment is experiencing growth at a faster pace supported by growing demand for blue light skincare products. Store-based retail and specialty retail stores are witnessing growth primarily in developing countries such as India, Vietnam, Indonesia, China among many others where there is a high influence of the western culture.
The penetration of international cosmetic brands and established supermarkets and retail chains will position the segment towards a growth trajectory in the upcoming years. The long-term outlook for the B2C segment in the blue light skincare market is predicted to be positive in the future owing to the rapid urbanization and favorable demographics.
Rapidly Growing Cosmetics Industry in Europe makes it a Key Market for Blue Light Skincare Products
Europe is expected to dominate the global blue light skincare market with the fastest-growing rate during the forecast period. The growth in the region is majorly attributed to the burgeoning domestic cosmetics industry and increased focus on chemicals free products. The European cosmetic industry plays a vital role in the global blue light skincare market owing to increased product development and continuous innovations.
Figures recorded by the European Commission state that in 2019, more than 94% of the young population in the European region used the internet daily, with 92% of young people using mobile phones as compared to 52% of people that use portable computers.
A recent survey of cosmetics Europe explains the consumer insights that cosmetics helps build up the self-esteem of almost 74% of people. The changing consumer perspectives and higher purchasing power of people in the region have influenced the demand for personal care products. Individuals in the region are promoting the consumption of sustainable products.
Additionally, the government regulations and guidelines associated with the safety and sustainability of cosmetic products have further pushed the market growth in the last five years. Among the region, Germany, France, Italy, Spain, and the UK are spearheading the market and are witnessing a steady demand for blue light skincare products. The below-mentioned info-graph depicts the European Market for Cosmetic Products for the year 2018.
Source: Cosmetics Europe- The Personal Care Association
In 2018, Germany accounted for the largest market share for cosmetics products, valued at USD 15.87 billion, followed by France with USD 13.11 billion. The presence of major players and growing e-commerce in Europe is anticipated to drive the growth of the regional market.
North American Region to Present Lucrative Growth Opportunities for the Industry
The North American region is an important market for the global blue light skincare industry presenting ample business opportunities for the market. The U.S. has a significant contribution to the growth of skincare, luxury cosmetic, and personal care products owing to the changing consumer tastes and drastic shift to skincare products.
Currently, Americans spend almost four to five hours a day looking at artificial blue light sources. The blue light skincare products are witnessing growing sales due to the rising awareness and increased incomes of people. The rising millennials population and continuous increase in online beauty spending have facilitated regional market growth.
Some of the key players profiled in the global blue light skincare market are DSM Nutritional Products, LLC, Clariant International Ltd, RAHN AG, BASF Group, Croda International Plc, Ashland Global Specialty Chemicals Inc., Kobo Products, Inc., Evonik Industries, Lonza Group, SkinCeuticals International (L’Oréal USA, Inc.), Solara Suncare, Inc., Skinbetter Science, LLC, Galactic Beauty, LLC, ISDIN, S.A., EltaMD, Inc., COOLA LLC., and many others.
Blue Light Skincare Market: Segmentation
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By Distribution Channel
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