Skin Care in Taiwan

PRE-COVID-19 PERFORMANCE

Repair and protect the key skin care trends in 2019

When it comes to skin care consumers are focusing mainly on the efficacy of the product and its ingredients, with less concern shown towards the brand itself. Repair and protection were two of the most popular features in 2019 with this tied in part to Taiwan’s ageing population, with women in particular keen to retain healthy and youthful looking skin.

Face masks remain popular in spite of China travel ban

Face masks remained one of the most dynamic skin care categories in 2019, with demand coming not just from locals but also inbound arrivals. The quality of locally produced face masks is recognised by Taiwanese consumers who also appreciate their reasonable prices, while premium brands have gained attention due to their efficacy.

Multinationals dominate with constant innovation in terms of products, marketing and in-store activities

Given that skin care is a category that is characterised by highly advanced products, the success of most brands is dependent on significant investment and marketing initiatives by brand owners. As it is only large global enterprises that can typically afford to engage in such activities, skin care in Taiwan is dominated by major international companies, with L'Oréal, Procter & Gamble and Shiseido accounting for almost a third of all value sales.

2020 AND BEYOND

COVID-19 impact

Sales of skin care are now expected to grow by 3% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 2% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within skin care

Skin care is expected to continue seeing steady growth in 2019 constant value terms in 2020, with COVID-19 not expected to act as a significant hinderance. In fact, some categories such as face masks and anti-agers should benefit from consumers having more time to take care of their appearance due to the increased time spent at home.

Recovery and opportunities

Skin care is not expected to be significantly impacted by COVID-19 with growth expected to remain steady over the forecast period. Consumers are showing a growing interest in skin care which can help them retain healthy and youthful looking skin and are willing to invest in more than just basic moisturisers and facial cleansers to achieve this.

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