The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2019
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Colour cosmetics in Asia Pacific grew significantly over 2013-2018, driven by urbanisation, growing consumer sophistication and rising purchasing power. Facial make-up and lip products were the best performers in the region, supported by fashion trends. Store-based retailers have a strong position in the distribution of colour cosmetics in the region, but internet retailing is rapidly gaining relevance among consumers.
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Asia Pacific is the largest regional market for colour cosmetics globally, with sales reaching USD21.5 billion in 2018. Urbanisation and increased purchasing power have heavily influenced category growth.
Despite strong value sales growth in China and India in recent years, these markets still offer considerable opportunities for future retail value growth, as they are relatively immature and far from before becoming saturated.
Younger generations represent an opportunity for companies operating in the region in the form of a broader consumer base and the potential to gain loyal consumers in the long term. This will be particularly important for companies operating in more mature markets, such as Japan and South Korea.
Internet retailing continues to gain share from store-based retailers in Asia Pacific, attracting consumers with a broader range of products, price promotions and convenience. This has been further supported by the use of social media and local celebrities to engage and educate consumers on make-up routines and the latest products.
Leading international companies, including Estée Lauder and LVMH Moët Hennessy Louis Vuitton, have strengthened their positions through localisation strategies.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.