While consumers had greater time to dedicate to more complex skin care routines whilst confined to their homes during the lockdown, increasing price sensitivity due to rising unemployment and decreasing disposable incomes resulted in overall declining demand for skin care in 2020. This was particularly noticeable within major categories such as body care, moisturisers and treatments and lip care, despite the fact that players actively marketed their products as essential for self-care during the year with the aim or attracting mid- to high-income consumers who were less impacted financially.
The pandemic and reduced demand across major skin care categories due to rising price sensitivity forced mass brands to expand their channel availability. Lower-income consumers continued to prefer store-based outlets such as modern grocery retailers and drugstores/parapharmacies (particularly The Generics Pharmacy which offers accessible prices) for any skin care needs, particularly those in close proximity to where they live which is encouraging an increasing number of mass brands to penetrate convenience stores such as ALFA Mart and 7-Eleven.
Skin care in the Philippines remained a fairly fragmented competitive landscape in 2020, with only leader Unilever holding double-digit value share. The player offers a wide portfolio of popular and well-known brands, including Pond’s, Eskinol and Master brands.
Skin care’s predicted growth trajectory will be strongly linked to consumer confidence in terms of disposable incomes and the recovery of the local economy, with the category predicted to experience a gradual increase in demand from 2021 onwards. Both volume and value sales (at constant 2020 prices) are predicted to recover to pre-pandemic levels by 2022.
Local consumers are becoming increasingly well informed about the contents and ingredients of various skin care products, particularly as they had time to browse various websites and read reviews on blogs and social media posts whilst confined to their homes during the pandemic. A greater interest in organic skin care products using natural ingredients is likely with brands such as Ever Bilena making inroads by developing products with a more natural positioning but appealing to a mass market.
Following its impressive share gain and growth rate in 2010, e-commerce has greater potential to penetrate skin care over the forecast period. Brands increasingly understand that while the bulk of their sales tend to be through store-based retailers, consumers of skin care were exposed to e-commerce when they were unable to visit their preferred channel during the pandemic.
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Understand the latest market trends and future growth opportunities for the Skin Care industry in Philippines 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 Philippines, 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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