Euromonitor on the future of skin care and cosmetics formulation and marketing

At this week’s in-cosmetics Asia, which opens on October 30 2018 in Bangkok, Thailand, manufacturers will receive the latest updates and insights on Asia-Pacific's (APAC) burgeoning skin care and colour cosmetics markets. 

Sunny Um, Beauty and Fashion Senior Analyst at Euromonitor International will explore leading consumer concerns, retail patterns and market trends impacting behaviour when selecting and purchasing these products. 

Skin care is the leading beauty category in Asia. The continent also reigns supreme in terms of its international colour cosmetics sales. Between 2017 and 2022, APAC estimates a value increase of $6 bn (€5.3 bn). The best-selling colour cosmetics products in APAC are lip care, foundations and concealers and BB/CC creams, respectively.  

In Asia, beauty consumers place the spotlight on skin care product purchases and centring these decisions on identifying and selecting high-quality items. Consumers are also seeking natural and ethically-friendly products.

Commenting on additional opportunities for formulators, manufacturers and marketers, Sunny Um, Beauty and Fashion Senior Analyst at Euromonitor International reveals that brands can “appeal to two new emerging markets – cosmetics and personal care products for men and mature women.”​

Top trends​

Beauty from within: wellness mix in skincare​ 

In Asia, the partnership between beauty and health continues to rise in Asia as the emergence of holistic beauty evolves personal and conscious-based beauty lines.

“Major skin concerns among Asian millennials include blemishes, dark spots and sensitive skin,”​ shared Um. 

Breakouts from acne and blemishes is a core concern of Asia consumers. New formulations are focusing on anti-pollution, anti-stress and digital fatigue to alleviate these concerns around how skin aesthetically appears.

All natural ingredients and free-from claims also resonate strongly with skin care consumers as eco and ethical-friendly beauty buys are synonymous with good health and wellbeing.

The concept of looking after inner wellness to reflect outer appearance stretches to areas of health including diet and nutrition. Microbiome-based products that promote good bacteria and dietary supplements, particularly herbal and traditional items, complete with extracts and reductions are attractive to these cosmetics consumers. 

For marketers developing marketing and advertising campaigns, the ‘demographic-free’ messaging is proving popular. Centring on ageless and genderless concepts, brands also need to build trust in these supplements to maximise credibility and usage with consumers.

Premiumisation ​

In today’s customisable cosmetics sphere, consumers are less inclined to select a beauty buy based on brand loyalty. Instead, consumers will invest in retail and product experiences that deliver more. Digital apps and in-store engagements that promote exclusive and personal offers surpass brand loyalty in terms of popularity.

The relationship between skin care and cosmetics continues to present a strong collaboration for product creators and shoppers. Anti-pollution and sensitive skin infusions in cosmetics are generating interest.

In 2017, Euromonitor International explored the top five desired benefits in colour cosmetics amongst millennials, which varied considerably country to country.

In Thailand, high-quality and hypoallergenic colour cosmetics are important; Indonesian consumers value whether they are natural or organic, suitable for skin types and suits skin concerns; China is similar in terms of natural or organic and suitability to skin type; and South Korea values colour cosmetics items that are appropriate for skin type.

Gender fluidity​

Unisex marketing based on genderless products are on the rise. The combination of overcoming challenges associated with males accessing and using cosmetics with male make up going mainstream increases the demand for male-specific cosmetics.

When analysing attitudes in 2017 compared to 2015, challenges revolving around ‘not being part of my routine’, ‘not interested in using’ and ‘don’t see a need’ have all decreased.

Active ageing ​

Ageing-related cosmetics moves from anti-ageing to active ageing. Content marketing strategies revolve around promoting articles and blogs related to older shoppers.

In Asia, the baby boomer demographic’s colour cosmetics usage is lower than millennials in areas including lipstick, foundation and eye make up. This is based on an indifference to this segment as respondents in Euromonitor’s Beauty Survey 2017 indicated that lipsticks and foundations are 'not appropriate for their age'.