Skin Care in Asia Pacific

June 2022

Skin care in Asia Pacific, after declining in 2020, when Coronavirus (COVID-19) first hit the region, was back to recording positive growth in real value terms in 2021. While China continued recording positive growth in both years, Japan and South Korean had seen sharp sales declines in 2020. The latter saw a strong rebound in 2021, but the Japanese recovery was much weaker, with sales still far below their 2019 levels. Asia Pacific skin care will see positive annual growth rates over 2021-2026.

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Key findings

Chinese skin care keeps growing

Although skin care growth slowed in 2020 and 2021 in China, it still remained strong in real value terms, with the consumer focus on healthy living continuing to increase, driving dynamic momentum for related products, such as dermocosmetics, functional skin care and clean beauty. Anti-ageing products continued to record dynamic performances, as consumer demand increased and evolved into more and more segmented needs.

Kao and Kosé link-up on green issues

Kao and Kosé have announced a comprehensive collaboration on sustainability activities in the cosmetics business. This includes the introduction of environmentally-friendly materials for packaging and the procurement of raw materials with low environmental burden, as well as educational activities in the beauty field, such as skin care or protection from ultraviolet rays.

E-commerce the main sales channel

E-commerce is now the biggest single retail distribution channel for skin care in Asia Pacific, with its performance having been boosted by lockdowns and the closure of non-essential physical retail outlets during the pandemic. Livestreaming and the use of online KOLs also continue to gain in importance in the region, and in China in particular.

Positive growth expected over 2021-2026

The resurgence of COVID-19 in the first half of 2022 has been affecting the beauty and personal care market in China, given the restrictions reintroduced to stop the spread of the Omicron variant. This could affect the Chinese skin care performance in 2022 and, as a result, at an overall regional level. However, positive growth is currently forecast for every year in 2021-2026 for Asia Pacific skin care.

Introduction

Scope
Key findings

Regional overview

Asia Pacific accounts for more than half of global skin care sales
Sales immediately back to seeing positive growth in 2021 after the 2020 decline
Facial care leads actual growth but set/kits more dynamic over 2016-2021
Dermocosmetics continue growing in 2021
Chinese facial care accounts for the bulk of new retail value added in 2016-2021
Premium products close to overtaking sales of mass products in Asia Pacific skin care
Although store-based retailing still has a greater share of skin care sales…
…non-store retailing, driven by e-commerce, continues to make major gains

Leading companies and brands

Local brands performing strongly in the Chinese market
Shiseido looks to up its e-commerce game after losing share during the pandemic
China, Japan and South Korea the main revenue generators for the top 10 players
The History of Whoo continues its move up the rankings

Forecast projections

Positive growth expected throughout the 2021-2026 period…
…with facial care driving the overall performance
Rising GDPs will be a major growth driver over 2021-2026

Country snapshots

China: Market Context
China: Competitive and Retail Landscape
Hong Kong, China: Market Context
Hong Kong, China: Competitive and Retail Landscape
India: Market Context
India: Competitive and Retail Landscape
Indonesia: Market Context
Indonesia: Competitive and Retail Landscape
Japan: Market Context
Japan: Competitive and Retail Landscape
Malaysia: Market Context
Malaysia: Competitive and Retail Landscape
Pakistan: Market Context
Pakistan: Competitive and Retail Landscape
Philippines: Market Context
Philippines: Competitive and Retail Landscape
Singapore: Market Context
Singapore: Competitive and Retail Landscape
South Korea: Market Context
South Korea: Competitive and Retail Landscape
Taiwan: Market Context
Taiwan: Competitive and Retail Landscape
Thailand: Market Context
Thailand: Competitive and Retail Landscape
Vietnam: Market Context
Vietnam: Competitive and Retail Landscape

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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