3. Skin bleaching products are major revenue drivers.
“Skin bleaching is a growing phenomenon around the world and it’s becoming a bigger business,” Dr. Margaret Hunter, head of the Sociology Department at Mills College told the Huffington Post. “Now it’s a multi-billion dollar business and all the biggest cosmetic companies sell products that are supposed to lighten your skin.”
This year alone, the market for a group of certain drugs including mercury creams is reportedly projected to reach $10 billion. It is a multi-billion dollar market in Africa alone, with the global market being projected to reach $19.8 billion by 2018 based on sales mostly based in Asia, Africa, and the Middle East.