According to Future Market Insights (FMI), the market for stretch mark removal products market is expected to reach US$ 2198.3 Mn by the end of 2032, rising at a CAGR of 3.6% between 2022 and 2032. Growing focus on anti-aging care will continue to be a key driver, but FMI analysts found that market is also benefitting from growing focus on weight loss.
From nourishing the skin to removing stretch marks, the demand for effective skincare products is higher than ever before. This, coupled with better access to skincare products at inexpensive prices, has been aiding the expansion of the stretch mark removal products market.
While cream remains one of the leading categories among products available in the market, consumers are gradually moving in favour of more unconventional products such as oils and serums. This paradigm shift is steered by greater focus on deriving benefits from organic and topical ingredients.
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The Shift Toward Online Channels
Companies in the stretch mark removal products market are shifting their focus from traditional retail stores to e-commerce platform to boost their sales and increase their customer base.
Ecommerce portals are visited by increasing number of consumers each day. The convenience of shopping, discounts offered, and door-step deliveries are a few benefits of shopping online compared to shopping from brick-and-mortar stores.
Furthermore, online stores present opportunity to compare products and their prices. These factors are tipping scales in flavour of maintaining an online presence. Since the market is highly competitive, an increasing number of players are likely to focus on improving their online visibility. This will augur well for the market in the long run.
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Key Takeaways
- Market players are focusing on boosting their organic line of products
- Sales through pharmacies are being complemented by the growing online channel
- US maintains its position as the largest market, with North America accounting for a sizeable share
Who is winning?
Some of the key players operating in the stretch mark removal products market are Clarins Group, Merz GmbH and Co. KGaA, E.T Browne Drug Co., Union-Swiss Ltd (Bio-Oil), Basq Skincare, Weleda AG, Dermaclara Inc., Mama Mio US Inc., among others.
Some of these companies are focusing more on portfolio expansion. Besides this, they are looking at expanding their physical presence via retail stores. Leading players are even focusing on partnership with prominent retailers to cater to increasing demand.
Product launches will remain a key strategy adopted by market players to gain competitive advantage.
In April 2020, Clarins Group launched its new plant based product called ‘Body Partner’ which helps in reducing stretch marks and this new product is tested and recommended by pregnant women. Body Partner is formulated with insignificant plant-based ingredients, including Clarins’ new Phyto-Stretch-Complex a mix Organic Green Banana extracts and Centella Asiatica which uphold visible skin springiness and leave skin smooth and tranquil.
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