Strategy Briefing

Skin Care in Asia Pacific

Jul 2020

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About This Report

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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.

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Overview

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Key findings

Asia-Pacific leads in global sales

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 has a core significance

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 valued across markets

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.

Beauty specialists and e-commerce play an important role in distribution

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.

Strong growth potential despite threat of COVID-19

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.

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Introduction

Scope

Key findings

Regional Overview

Asia Pacific: a dynamic region with untapped potential

Regional sales growth driven by facial care in China

East Asia: innovation from local manufacturers drives consumption

Highest value gains for China, Japan, Thailand and Indonesia in 2019

Facial care grows strongest across Asia, while sets flourish in China

Shopping diversity and e-commerce increasingly important for distribution

One-stop, multi-label shopping channels rise due to convenience

Leading Companies and Brands

High market consolidation except for China and Hong Kong

K-beauty expected to slip beyond 2020

Personal care giants rule Southeast Asia

Pechoin and C-beauty rise in 2019

Forecast Projections

China to remain dominant in value sales growth

Skin health becomes paramount amidst pandemic anxiety

Rising GDP across countries to underpin strong regional growth

Rising GDP, population growth and positive soft drivers key to growth

Country Snapshots

China: market context

China: competitive and retail landscape

Japan: market context

Japan: competitive and retail landscape

South Korea: market context

South Korea: competitive and retail landscape

Thailand: market context

Thailand: competitive and retail landscape

Hong Kong: market context

Hong Kong: competitive and retail landscape

Taiwan: skin care

Taiwan: competitive and retail landscape

India: market context

India: competitive and retail landscape

Indonesia: market context

Indonesia: competitive and retail landscape

Philippines: market context

Philippines: competitive and retail landscape

Malaysia: market context

Malaysia: competitive and retail landscape

Singapore: market context

Singapore: competitive and retail landscape

Vietnam: market context

Skin Care: competitive and retail landscape

Pakistan: market context

Pakistan: competitive and retail landscape

Kazakhstan: market context

Kazakhstan: competitive and retail landscape

Azerbaijan: market context

Azerbaijan: competitive and retail landscape

Uzbekistan: market context

Uzbekistan: competitive and retail landscape

Appendix: Industry Forecast Model

Growth decomposition explained

Why buy this report?

Want to find out more about this report?

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Megatrends

Strategy Briefing

Skin Care in Asia Pacific

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Key findings

Asia-Pacific leads in global sales

Facial care has a core significance

Skin health valued across markets

Beauty specialists and e-commerce play an important role in distribution

Strong growth potential despite threat of COVID-19

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Regional Overview

Asia Pacific: a dynamic region with untapped potential

Asia Pacific: a dynamic region with untapped potential

Regional sales growth driven by facial care in China

East Asia: innovation from local manufacturers drives consumption

Highest value gains for China, Japan, Thailand and Indonesia in 2019

Facial care grows strongest across Asia, while sets flourish in China

Shopping diversity and e-commerce increasingly important for distribution

One-stop, multi-label shopping channels rise due to convenience

Leading Companies and Brands

High market consolidation except for China and Hong Kong

K-beauty expected to slip beyond 2020

Personal care giants rule Southeast Asia

Pechoin and C-beauty rise in 2019

Forecast Projections

China to remain dominant in value sales growth

Skin health becomes paramount amidst pandemic anxiety

Rising GDP across countries to underpin strong regional growth

Rising GDP, population growth and positive soft drivers key to growth

Country Snapshots

China: market context

China: competitive and retail landscape

Japan: market context

Japan: competitive and retail landscape

South Korea: market context

South Korea: competitive and retail landscape

Thailand: market context

Thailand: competitive and retail landscape

Hong Kong: market context

Hong Kong: competitive and retail landscape

Taiwan: skin care

Taiwan: competitive and retail landscape

India: market context

India: competitive and retail landscape

Indonesia: market context

Indonesia: competitive and retail landscape

Philippines: market context

Philippines: competitive and retail landscape

Malaysia: market context

Malaysia: competitive and retail landscape

Singapore: market context

Singapore: competitive and retail landscape

Vietnam: market context

Skin Care: competitive and retail landscape

Pakistan: market context

Pakistan: competitive and retail landscape

Kazakhstan: market context

Kazakhstan: competitive and retail landscape

Azerbaijan: market context

Azerbaijan: competitive and retail landscape

Uzbekistan: market context

Uzbekistan: competitive and retail landscape

Appendix: Industry Forecast Model

Growth decomposition explained

Why buy this report?

Want to find out more about this report?

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