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Beauty Disruptor Series: Innovation in Asia Pacific

December 2019

Beauty innovators generally have the power to disrupt markets, predominantly through route to market and the brand value proposition. The case studies or “beauty innovators” selected by our in-country analysts, are newly established local businesses launched between 2012 and 2018, and typically formed by entrepreneurs who identified a gap in their market and decided to supply the demand through a product or service.

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This report comes in PPT.

Key Findings

Leading global players are increasingly under threat from fast-growing insurgent and local brands

Recent changes in consumer behaviour have opened up new opportunities for smaller brands, who tend to be more agile and responsive to trends than multinationals. Local brands also have a deeper understanding of what their consumers really want, and shape their offering to meet this, whether that is customisation, natural or sustainable.

Beauty disruptors in Asia Pacific and Australasia must embody value for money

Asia Pacific’s disruptor brands compete on quite simple terms, such as selling model, formulation and price, while Australasian brands utilise local heritage and ingredients. Consumers in both Asia Pacific and Australasia consider value for money as the most desired feature in beauty products and this demand is setting opportunity for disruptors to develop affordable quality products.

Domestic disruptive players are on the rise in Asia Pacific

High penetration of online retailing allows small beauty disruptors to easily join the competition in Asia Pacific. Consumer preference for locally-manufactured brands boosts the growth of emerging disruptor brands in the region, and the growing number of higher disposable incomes and young urban consumers means there is a strong market willing to pay the price for a local flavour.

A-beauty trend could fragment the Australasian market further

Supermarkets hold the strongest presence in Australasia, while online retailing is growing fast. Successful disruptors are tuned into the unique role of supermarkets in the beauty landscape and leverage both these important channels. Disruptors in Australasia holds the most potential in skin care, but expect penetration in other categories including fragrances.

Scope
Key findings
From improving what consumers do today to reinventing behaviour
Renovation and innovation are often wrongly identified as disruption
For a company to disrupt they must focus on four areas
Who has the power to disrupt?
Home-grown brands trade on local knowledge
Local brands can be a direct contrast to global brands
A sia Pacific region particularly fragmented
Disruption calls for various categories in Asia Pacific
Online leads Asia Pacific retail with more growth to come
Value for money and high-quality features remain important
China: HomeFacialPro
Hong Kong: Soap Mum
India: Arata
Indonesia: SASC (Socially Aware Sexy Cosmetics)
Japan: BULK HOMME
Japan: MEDULLA
Malaysia: The Apothecary Malaysia
Malaysia: Orkid Cosmetics
Philippines: BLK Cosmetics
Singapore: Allies of Skin
Singapore: Handmade Heroes
South Korea: Toun28
Taiwan: Inna Organic
Sales of “Others” spiking in Australasia over the review period
Brands leveraging Australasian heritage have potential
Online grows, but supermarkets still hold relevance in Australasia
Value for money remains consumer priority across the board
Australia: tribe Skincare
New Zealand: glow Lab
New Zealand: goodness Skincare

Beauty and Personal Care

This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.

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