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Skin Care in Singapore
May 2022
2021 DEVELOPMENTS
Favourable market conditions and product quality translate into parallel importers sourcing offerings from multiple regions
A need for self-care is a marketing strategy that is interchangeable with skin care routines. There was an increase in the emphasis on skin care routines during the movement restrictions, and the growth momentum steadily continued into 2021.
Marketers are increasingly keen to differentiate offerings through their ingredients' perceived efficacy and brightening properties
Star ingredients have been a staple in this category for the last decade. A star ingredient would typically be the star of a premium skin care product, with a pitch extolling the advantages of vitamin B5 (hyaluronic acid) or resveratrol (grapeseed extract), for instance.
K-Beauty, or Korean Beauty, is declining in skin care due to unsustainable cost pressures
Amore Pacific's Etude House closed its last physical store in Singapore in February 2022. VT Cosmetics left the retail space in September 2021.
PROSPECTS AND OPPORTUNITIES
Expectations of further growth for facial sheet masks in the forecast period
Facial sheet masks is one of the fastest-growing segments in skin care, with expectations of continued growth throughout the forecast period. Watson’s introduced two new sheet mask variants under the Love My Glow line, alongside its existing Collagen line.
With a low price strategy, parallel importers will pose a threat to traditional sales channels
Parallel importers are no longer a mainstay of low-income groups, but are attracting mass consumers keen on stretching their budgets. These retailers include British Essentials and Venus Beauty.
Despite outrage and perceived colonial stereotypes, products with anti-blemish and whitening properties continue to thrive
In recent years, products with brightening and whitening claims have gained a poor reputation amongst Eurocentric communities, who perceive these products as a remnant of Southeast Asia's colonial past. It is often a double-edged sword for brands.
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Overview:
Understand the latest market trends and future growth opportunities for the Skin Care industry in Singapore 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 Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Skin Care in Singapore report includes:
Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volume and value sizes, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent research methodology, conducted in-country
This report answers:
What is the market size of Skin Care in Singapore?
Which are the leading brands in Singapore?
How are products distributed in Singapore?
To what extent is e-commerce changing the retail environment and consumer demand?
How are sales of mass versus premium beauty products evolving?
Which products are seeing rising demand in the wake of COVID-19?
Why are changing lifestyles and consumer behaviour patterns stimulating growth of some categories but not others?
How is the macroeconomic environment shaping demand?
Where is future growth expected to be most dynamic?
Skin Care in Singapore - Category analysis
KEY DATA FINDINGS
2021 DEVELOPMENTS
Favourable market conditions and product quality translate into parallel importers sourcing offerings from multiple regions
Marketers are increasingly keen to differentiate offerings through their ingredients' perceived efficacy and brightening properties
K-Beauty, or Korean Beauty, is declining in skin care due to unsustainable cost pressures
PROSPECTS AND OPPORTUNITIES
Expectations of further growth for facial sheet masks in the forecast period
With a low price strategy, parallel importers will pose a threat to traditional sales channels
Despite outrage and perceived colonial stereotypes, products with anti-blemish and whitening properties continue to thrive
CATEGORY DATA
Table 1 Sales of Skin Care by Category: Value 2016-2021Table 2 Sales of Skin Care by Category: % Value Growth 2016-2021Table 3 NBO Company Shares of Skin Care: % Value 2017-2021Table 4 LBN Brand Shares of Skin Care: % Value 2018-2021Table 5 LBN Brand Shares of Basic Moisturisers: % Value 2018-2021Table 6 LBN Brand Shares of Anti-agers: % Value 2018-2021Table 7 LBN Brand Shares of Firming/Anti-cellulite Body Care: % Value 2018-2021Table 8 LBN Brand Shares of General Purpose Body Care: % Value 2018-2021Table 9 LBN Brand Shares of Premium Skin Care: % Value 2018-2021Table 10 Forecast Sales of Skin Care by Category: Value 2021-2026Table 11 Forecast Sales of Skin Care by Category: % Value Growth 2021-2026
Beauty and Personal Care in Singapore - Industry Overview
EXECUTIVE SUMMARY
Beauty and personal care in 2021: The big picture
2021 key trends
Competitive landscape
Retailing developments
What next for beauty and personal care?
Chart 1 Beauty and Personal Care Value Sales Growth Scenarios: 2019-2026Chart 2 Beauty and Personal Care Impact of Soft Drivers on Value Sales: 2019-2026
MARKET DATA
Table 12 Sales of Beauty and Personal Care by Category: Value 2016-2021Table 13 Sales of Beauty and Personal Care by Category: % Value Growth 2016-2021Table 14 GBO Company Shares of Beauty and Personal Care: % Value 2017-2021Table 15 NBO Company Shares of Beauty and Personal Care: % Value 2017-2021Table 16 LBN Brand Shares of Beauty and Personal Care: % Value 2018-2021Table 17 Penetration of Private Label in Beauty and Personal Care by Category: % Value 2016-2021Table 18 Distribution of Beauty and Personal Care by Format: % Value 2016-2021Table 19 Distribution of Beauty and Personal Care by Format and Category: % Value 2021Table 20 Forecast Sales of Beauty and Personal Care by Category: Value 2021-2026Table 21 Forecast Sales of Beauty and Personal Care by Category: % Value Growth 2021-2026
DISCLAIMER
SOURCES
Summary 1 Research Sources
The following categories and subcategories are included:
Skin Care
Premium Firming/Anti-Cellulite Body Care
Mass Firming/Anti-Cellulite Body Care
Premium General Purpose Body Care
Mass General Purpose Body Care
Premium Acne Treatments
Mass Acne Treatments
Premium Face Masks
Mass Face Masks
Premium Liquid/Cream/Gel/Bar Cleansers
Mass Liquid/Cream/Gel/Bar Cleansers
Premium Facial Cleansing Wipes
Mass Facial Cleansing Wipes
Premium Basic Moisturisers
Mass Basic Moisturisers
Premium Anti-Agers
Mass Anti-Agers
Premium Lip Care
Mass Lip Care
Premium Toners
Mass Toners
Premium Hand Care
Mass Hand Care
Premium Skin Care Sets/Kits
Mass Skin Care Sets/Kits
Skin Care
This is the aggregation of facial care, body care, hand care and skin care sets/kits.