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.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreJul 2020
US$1,325Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Asia is the highest-value region for skin care, with 53% of global sales. Despite this, per capita consumption levels are still far below other high value regions such as Western Europe and North America, and the potential for development is substantial. The rising importance of skin health, increasing spending power, population growth, and the prominence of social media sharing and e-commerce underpin strong growth prospects, despite the economic challenges posed by COVID-19.
Files are delivered directly into your account within a few minutes of purchase.
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.
Asia generates 53% of the world’s skin care sales. China dominates, and its vast population and strong economic growth are key to regional performance overall. Growth is most dynamic in emerging markets such as Indonesia, where demand is rising and per capita usage is underdeveloped. However, developed markets such as Japan and Hong Kong remain important and contribute significant year-on-year gains in actual US dollar terms, despite their maturity.
Facial care accounts for 87% of total skin care value sales. According to Euromonitor International’s Beauty Survey, Asian consumers are most advanced in using facial moisturisers, mists and serums as part of their daily routine.
Skin health is increasingly important, in both developed and emerging markets. Health-awareness, pollution, and the stress of urban living are encouraging more people to use skin care products, and to take a greater interest in product ingredients.
Multi-label stores such as beauty specialists remain important in Asia-Pacific, for their diverse range of brands and generous membership reward programmes. Sephora has expanded rapidly into the region, opening stores in Hong Kong and South Korea in 2019. But e-commerce is growing fast, allowing international companies to gain a growing presence in high value markets such as China, for example.
COVID-19’s impact in 2020 has been to accelerate some of the burgeoning trends evident in 2019, most obviously the importance of skin health and the growth of e-commerce. Despite the pandemic’s threat to retail and national economic prospects, skin care is expected to thrive over the next few years, with consumption increasing rather than diminishing.
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.