The Asia Pacific region encompasses countries with diverse economies. While China remains a global growth engine, Japan’s beauty market continues to contract. However, opportunity areas are clearly showing demand for product customisation, mass beauty and the growing sophistication in men’s grooming. The most dynamic markets in the region will remain Indonesia and Vietnam. Brands are aiming to remain relevant and accessible to the young and increasingly affluent Asian consumer base.
Indonesia and Vietnam will remain the most dynamic markets in the region. The combination of the expanding middle class and the newly emerging wide consumer base at the lowest price platforms sustains steady growth.
Skin care will generate some 46% of the region’s BPC market value growth over 2013-2018. The category is becoming hugely diverse in terms of functions, formats and price tiers.
Product customisation is a growing trend globally and consumer demand for tailored solutions varies across regions. Natural products with safe ingredients to achieve brightening results and to offer sun protection are the core requirements for beauty products in the region.
Mass products dominate BPC markets in Asia Pacific, accounting for 70% of total regional sales in 2013 and this ratio is expected to increase further by 2018. Interestingly, the expansion of mass value sales is largely originating from developed Asian countries, especially Japan and South Korea.
Male grooming routines are expanding into multistep regimes; demand for male-specific cleansers, toners and moisturisers is growing and men’s toiletries subcategories are becoming more sophisticated.
Young, affluent Asian consumers are becoming increasingly urbane and willing to experiment with novelty. Brands are aiming to remain relevant and accessible to these enthusiastically modern consumers.
Where consumers live, the social values in urban versus rural areas, cultural diversity and economic status of a particular region shape cosmetics shoppers’ preferences.
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