Outlook of the global blemish balm (BB) and color correction (CC) products market
Technavio’s market research analyst predicts that the global BB and CC products market will grow at a CAGR of around 13% by 2020. Factors such as the recent change in climatic conditions and the populace’s growing awareness about the harmful effects of UV radiations will result in the augmented demand for BB and CC products during the forecast period. Also, the growing demand for multifunctional benefits in BB and CC products will impel the prospects for market growth until 2020.
Another important factor that drives growth in this market is the consumers’ preference for BB creams with sun protection factor (SPF) as well as added benefits that provide lighter textures. The ability of these products to act as moisturizers, serums, foundations, and sunblock to give consumers a youthful and bright looking skin will result in its augmented demand during the forecast period.
Segmentation by product type and analysis of the BB and CC products market
- BB/CC skin care products
- BB/CC color cosmetic products
- BB/CC hair care products
The global BB and CC products market were dominated by the BB/CC skin care products segment, which accounted for a revenue share over 80% in 2015. The BB/CC, skin care products, are mostly used to protect the human skin from the sun and UV radiations. Furthermore, their ability to provide hydration and coverage to the skin will result in its increased demand during the predicted period.
Geographical segmentation of the BB and CC products market
In this market study, analysts have estimated the APAC region to be the largest market for BB and CC products during the forecast period. The introduction of new product lines with BB benefits will help in the growth of this market in APAC. Additionally, factors such as the recent increase in youth population will aid in the growth of this market in APAC during the predicted period. The market in this region is envisaged to account for more than 38% of the total market share by 2020.
Competitive landscape and key vendors
The global BB and CC products market is characterized by the presence of multiple active vendors. Though the large vendors dominate this market in terms of shares, the smaller vendors are also expected to account for a significant share of the market as they have created a competitive landscape in certain countries like South Korea and China. The vendors in the market compete on the basis of product portfolio and pricing to gain maximum traction during the forecast period.
Key vendors in the market are -
- Beiersdorf
- Estée Lauder
- Johnson & Johnson
- L'Oréal
- Shiseido
Other prominent vendors in the market include AmorePacific, Amway, Avon Products, Chanel, Chatters Canada, Clarins Group, Combe, Conair, Coty, The Face Shop, Lotus Herbals, Markwins Beauty Products, Mary Kay, Misha, Nature Republic, Procter & Gamble, Rachel K Cosmetics, Revlon, Skin Food, and Unilever.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global BB and CC products market?
- What are the key market trends impacting the growth of the global BB and CC products market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global BB and CC products market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
- What are the key outcomes of the five forces analysis of the global BB and CC products market?
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Table of Content
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product type
- Global BB and CC products market by product type
PART 07: Geographical segmentation
- Global BB and CC products market by geography
PART 08: Key leading countries
PART 09: Market drivers
- Demand for multi-functional products
- Increased exposure to sun due to global warming and UV radiation
- Increase in disposable income among emerging middle class
PART 10: Impact of drivers
PART 11: Market challenges
- Threat from counterfeit BB and CC products
- Stringent product regulations
- Presence of local and unorganized players
PART 12: Impact of drivers and challenges
PART 13: Market trends
- Improvements in labeling and packaging
- Product innovations through technological advancement
- E-tailing and social media marketing
PART 14: Vendor landscape
- Competitive scenario
- Vendor share analysis
- Beiersdorf
- Estée Lauder
- Johnson & Johnson
- L'Oréal
- Shiseido
- Other prominent vendors
PART 15: Appendix
PART 16: Explore Technavio