CC Cream Market Growth Analysis: Key Players, Trends, and Forecast with a [7.3%] CAGR

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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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.

Regional Insights of CC Cream Market

The Asia Pacific region is emerging as a major driver of growth in the global CC cream market. This surge in demand can be attributed to several key factors that are reshaping the beauty and skincare landscape in the region.

Firstly, the Asia Pacific region has a strong skincare culture deeply ingrained in its beauty routines. Consumers in countries like South Korea, Japan, China, and India prioritize skincare, seeking products that offer both cosmetic and skincare benefits. CC creams, with their multifunctional properties, align perfectly with this trend, as they provide coverage while addressing specific skin concerns, such as hydration and UV protection. Secondly, the rise of social media and beauty influencers has had a significant impact on consumer preferences. Asian consumers are increasingly exposed to international beauty trends and are keen to experiment with new products. CC creams, often promoted by beauty influencers for their versatility and natural finish, have gained popularity as a result.

Lastly, the Asia Pacific region has a diverse range of skin tones, and brands that offer inclusive shade ranges in their CC creams are experiencing strong demand. Inclusivity is not only about catering to different skin tones but also understanding and addressing the specific skincare needs of Asian consumers, such as concerns related to pigmentation and sensitivity.

In conclusion, the Asia Pacific region’s rising demand for CC creams is driven by its skincare-centric culture, influence from social media and beauty influencers, and the need for inclusive and tailored beauty solutions. As this demand continues to grow, it presents a significant opportunity for brands to expand their presence and innovate in the global CC cream market.

Recent Developments in CC Cream Market

• In 2023, Lakme launched a new version of their popular 9 To 5 Complexion Care CC Cream, called the 9 To 5 Color Transform CC Cream. The new cream promises to provide medium coverage with a natural, radiant finish. It also contains color-correcting pigments to help minimize the appearance of blemishes, dark circles, and redness.

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 an impressive rate through the 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 the Global CC Cream Market.

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