Strategy Briefing

Skin Care in Asia Pacific

55 pages, Oct 2018

US$1,325

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As of 2017, Asia generates over 50% of the global skin care sales: With the fastest growth registered and forecasted in 2017 and by 2022, the region is expected to remain as the powerhouse behind the global skin care sales, with massive population, economic expansion and consumers’ increasing budget and desire for “vanity spending”. As the region’s per capita spend on skin care hasn’t even reached half of that in Western Europe and North America, Asia holds an ample room for further growth.

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Overview

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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.

Key Findings

Asia: dominant leader in global skin care sales

Asia generates 51% of the world’s skin care sales, surpassing Western Europe and North America. The explosive growth in China and expansion in Southeast Asia largely offset the slow growth of mature markets like Japan and South Korea. Further room for growth remains in Asia, as the region’s per capita spend on skin care is lower than half of Western Europe and North America.

Urban pollution and healthy living trend push up demand for “protection”

Facial care contributes 87% to the total skin care sales in Asia. Face masks, anti-agers and moisturisers claim on “skin immunity enhancement” functions, tapping on consumers’ concern on urban pollution. Facial care players expand to body care and bath line to stand as a holistic beauty solution provider.

Asian companies stand competitive to western giants for cultural affinity

K-beauty, J-beauty and C-beauty companies grow formidable against western beauty brands. Oriental ingredients, ethnic resemblance and similar pop culture resonate among Asian consumers. Tapping on localised demand such as herbal/traditional, halal, whitening and Ayurveda will be key for brand owners to capture Asian consumers.

Shopping reinvented by multi-label stores

Multi-label stores attract high consumer traffic, for the ease of shopping for diverse products/brands and generous membership rewards programmes. They also lead the wellness mix in product range, providing inner beauty supplements, weight loss friendly snacks and meal replacements.

SEA expansion continues; middle class retreats in mature markets

Developing markets expansion will be driven by GDP and population growth, except for Thailand where the per capita spend on skin care is already high for consumers’ heavy beauty interest. In developed markets, the market maturity, macroeconomic fluctuation and the cautious spending among middle-class consumers will constrain the value sales growth at a low single-digit level.

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Introduction

Scope

Key findings

Regional Overview

Putting Asia Pacific in the contexts

Facial care rules; regional sales heavily subject to Chinese spending flow

East Asia: innovation hotbed with home-grown manufacturers

Southeast Asia: countries with massive population still under-consuming

Skin care as “protection” against environmental stress

Facial care: dominant sales driver across all Asia

One-stop, multi-label shopping channels rise for convenience

Shopping reinvented by multi-label beauty stores

Leading Companies and Brands

High market consolidation, except for China and Hong Kong

K-beauty companies jump in sales, catching up global giants

Beauty corps rule East Asia; personal care giants strong in Southeast Asia

C-beauty rises; ranking constantly shuffles as competition heightens

Forecast Projections

China remains dominant in value sales growth

Euromonitor Beauty and Personal Care Forecasting Model

Expansion continues in SEA; middle class retreats in developed markets

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, China: market context

Hong Kong, China: competitive and retail landscape

Taiwan: market context

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

Vietnam: 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

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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?

Asia: dominant leader in global skin care sales

Urban pollution and healthy living trend push up demand for “protection”

Asian companies stand competitive to western giants for cultural affinity

Shopping reinvented by multi-label stores

SEA expansion continues; middle class retreats in mature markets

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Regional Overview

Putting Asia Pacific in the contexts

Facial care rules; regional sales heavily subject to Chinese spending flow

East Asia: innovation hotbed with home-grown manufacturers

Southeast Asia: countries with massive population still under-consuming

Skin care as “protection” against environmental stress

Facial care: dominant sales driver across all Asia

One-stop, multi-label shopping channels rise for convenience

Shopping reinvented by multi-label beauty stores

Leading Companies and Brands

High market consolidation, except for China and Hong Kong

K-beauty companies jump in sales, catching up global giants

Beauty corps rule East Asia; personal care giants strong in Southeast Asia

C-beauty rises; ranking constantly shuffles as competition heightens

Forecast Projections

China remains dominant in value sales growth

Euromonitor Beauty and Personal Care Forecasting Model

Expansion continues in SEA; middle class retreats in developed markets

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, China: market context

Hong Kong, China: competitive and retail landscape

Taiwan: market context

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

Vietnam: 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

Why buy this report?

Want to find out more about this report?

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