Global night cream market was valued at USD 10.1 billion in 2023, expected to reach USD 16.06 billion in 2031, with a CAGR of 5.97% for the forecast period between 2024 and 2031. The major drivers of the night cream market include the growing awareness of skin care and the increasing women’s workforce. Night creams with components such as retinol, antioxidants, and hyaluronic acid are preferred by consumers. Environmentally friendly consumers like to opt for organic night creams. With growing aging population, the demand for night creams is on the rise. Creams that target fine lines, wrinkles, dark circles, and blemishes are preferred by middle aged consumers.
Unhealthy urban lifestyles, stress levels, and pollution are among the major factors responsible for the growth of the night cream market, as these have led to a rising prevalence of skin issues like dullness, dryness, uneven skin tone, and others.
Manufacturers are introducing night creams with advanced and innovative formulations catering to the diverse needs of consumers based on their skin types and concerns. Moreover, multi-functional creams are gaining popularity due to their versatility in offering multiple benefits to consumers. Customization of night creams is becoming an integral part of the market as consumers like to get a personal touch with the products when it comes to skincare.
As per the distribution channels, D2C is emerging as the preferred channel of sales as consumers rely on brands’ websites and enjoy offers, discounts, and subscription benefits. E-commerce platforms are significantly expanding, giving customers access to a vast range of products on one platform.
Though Asia-Pacific is emerging as a significant market, North America remains the key market for night creams, with more people using the product and more products with advanced formulations available.
In January 2023, Tula Skincare, popular for its probiotic-fueled products, upgraded its 24/7 Moisture Intense Ultra Hydrating Day & Night Cream to create a hydrating formula for its consumers. The upgrade consists of MoistureLock Pressed Oil Blend of camellia seed & argan oils that enhances the hydration level of the cream.
Increasing Aging Population to Drive the Demand for Night Creams
The growing aging population is a significant driver of the global night cream market. In 2022, 771 million people were aged 65 years and above worldwide. The number is increasing rapidly and is expected to reach 16% in 2050 and 24% by 2100. Most amongst the older age bracket faces skin aging concerns such as wrinkles, dullness, fine lines, and loss of skin elasticity. The demographic trend invests more in the skincare regime to possess youthful skin and address skin-related issues. Moreover, with increasing life expectancy, more people are prioritizing skin care. They consider it part of their overall health and wellness, which further fuels the demand for night creams. Manufacturers are capitalizing on the trend by focusing on developing formulations with anti-aging properties, meeting the needs and preferences of the aging population.
In July 2023, Australia-based LYCON Cosmetics launched LYCON Skin range, including Lycon Skin Time Out Night Cream. The cream fights the signs of aging and consists of Hyaluronic Acid, Australian Kakadu Plum Extract, Sunflower Ceramides, and Vitamin E, along with the LYCON Skin signature anti-aging ingredient Yeast Beta-Glucan and a Peptide for wrinkle reduction.
Technological Innovations in the Product is Boosting the Market
The formulation and effectiveness of night creams have been revolutionized using technological advancements in the industry. With advancements in skincare science, many new ingredients and delivery systems have been developed to enhance the performance of these night creams. Peptides, hyaluronic acid, salicylic acid, botanical extracts and others are incorporated in the formulation of the products after studying their benefits extensively for various skin concerns such as aging, hydration, and repair. Moreover, active ingredients are being used in the products with the developments in nanotechnology and encapsulation technology, further maximizing their effectiveness. Such technological advancements enhance the performance of night creams and allow manufacturers to create specialized formulations to cater to individuals’ specific skin types and concerns. Consequently, high-performance night creams delivering visible results are flooding the market, offering consumers a wide range of options.
In April 2023, No7 Future Renew aims to tackle various skin damage concerns. The key ingredient of the products is a ‘super peptide’ blend that enhances the skin’s natural repair process. The ‘super peptide’ blend is a patent-pending technology by the company that cannot be found in any other product. No7 Future Renew Night Cream is a part of the range that improves uneven skin tone, treats dry skin, and reverses the loss of elasticity.
Anti-aging Night Creams Hold Larger Market Share
With a growing aging population in every country, anti-aging creams dominate the global night cream market. These creams are popular and in huge demand due to their tendency to reduce the visible signs of aging, including wrinkles, fine lines, and loss of elasticity. Formulated with ingredients such as retinol, peptides, and antioxidants, anti-aging night creams appeal to consumers looking to maintain youthful-looking skin and address age-related concerns. With an aging population and increasing emphasis on skincare, anti-aging night creams continue to dominate the market, providing effective solutions for those seeking to combat the effects of aging on their skin.
In February 2023, Eau Thermale Avene launched an anti-aging skincare range, the HYALURON ACTIV B3, consisting of pure Hyaluronic Acid and Niacinamide. The range includes a multi-intensive night cream made using Haritaki Extract and Retinal, which is 10 times more active than Retinol. The cream aims to stimulate cell renewal and enhance collagen synthesis.
Future Market Scenario (2024 – 2031F)
- Emerging economies, particularly in Asia-Pacific, will generate significant growth in the night cream market. Increasing disposable incomes, urbanization, and growing middle class population will lead to higher demand for skincare products, such as night creams, in countries such as China, India, and Southeast Asian nations.
- Consumer preferences for natural and organic skincare products will continue to shape the night cream trend. Brands will increasingly focus on formulating night creams with clean and sustainable ingredients to meet the growing demand for eco-friendly and skin-friendly alternatives.
- The trend towards personalized skincare solutions will gain momentum, with brands offering customizable night creams tailored to individual skin types, concerns, and preferences. The advancements in data analytics and AI-driven skincare diagnostics will enable brands to provide personalized recommendations, leading to consumer engagement and loyalty.
Report Scope
“Night Cream Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global night cream market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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