The Market for Night Creams Forecasted to Skyrocket to USD 18.2 Billion by 2034, Expanding at a Rapid 6.3% Annual Rate
Europe dominates the global night creams market, accounting for approximately 36.2% of the market and reaching an estimated size of USD 3.58 billion by 2024. This growth is attributed to increasing consumer awareness of skincare, the demand for anti-aging products, and advancements in formulations.
However, the identity of the company with the largest market share in Europe remains undisclosed for 2024. The market is dynamic, with companies continually evolving to meet consumer demands.
One such evolution is the focus on sustainability, product differentiation, and scientific advancements. Brands like Shiseido Co. Ltd., which announced its plans to acquire DDG Skincare Holdings LLC in 2023, are investing in these areas to stay competitive.
Meanwhile, Unilever PLC and Beiersdorf AG are projected to expand their positions by investing in natural and organic ingredients. This shift towards natural ingredients, coupled with the preference for such products among consumers, is driving the adoption of night creams.
Social media influence also plays a significant role in the market's growth. Brands are leveraging influencer partnerships and digital marketing strategies to reach a wider audience and boost sales.
In the realm of acquisitions, PCA Companies acquired the U.S. wholesale operations of beauty retailer Space NK in 2024, while L'Oréal finalized the purchase of luxury beauty brand Aesop on 30th August 2023. Puig also acquired a controlling interest in Dr. Barbara Sturm in the same year.
To improve market penetration, companies like Avon Products Inc. and Clarins Inc. are enhancing their direct-to-consumer channels. This move is expected to increase their reach and make their products more accessible to consumers.
As the market continues to evolve, it's clear that consumer preferences, technological advancements, and strategic acquisitions will shape the future of the night creams market in Europe.
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