Overall, skin care recorded a dramatic decline in retail current value sales in 2020, although the category did record as severe losses as colour cosmetics or fragrances. The reason for the sharp decline in retail current value shares was the heavy reduction of retail tourism in 2020 as the COVID-19 pandemic necessitated border closures and travel restrictions.
The clean beauty trend continued to gain traction in Hong Kong in 2020, boosted by the emergence of maskne during the COVID-19 pandemic, as consumers wearing face masks experienced skin problems caused or aggravated by the use of face masks. This led to an increase especially in mass skin care products as the range of clean beauty brands in Hong Kong continued to grow in 2020.
During the COVID-19 pandemic, players in skin care ramped up their digital marketing with an eye to developing stronger brand engagement online and attracting new, especially younger, customers. This was particularly noticeable amongst premium brands, which have engaged more heavily in livestreaming events in 2020 helping to support an increase in local demand in Hong Kong.
From 2021, skin care’s prospects are projected to improve rapidly, with particularly strong retail current value growth projected for 2021 and 2022. This is due to the resumption of international travel, and the return of retail tourism to the region, as well as the continued momentum in local demand as the self-care trend seems here to stay in Hong Kong.
In the wake of the COVID-19 crisis, consumers are expected to be more focused on health, wellbeing and, most importantly, immunity. There are a number of developments in beauty and personal care that are expected to appeal to this trend including, in Hong Kong skin care, the emergence of products containing probiotics.
Over the forecast period consumers are expected to demand more sophisticated skin care products as part of their more complex skin care routines. Consumers in Hong Kong are becoming increasingly informed about the ingredients used in skin care products thanks to the rise in skin care online influences who are educating consumers as well as promoting various products and brands through advertising collaborations.
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Understand the latest market trends and future growth opportunities for the Skin Care industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Skin Care industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Skin Care research and analysis database.
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