Skin care and sun care products do well with both women and men, and this report looks at why, while analyzing trends, opportunities, and growth in the region through 2020.
'Men purchasing more personal care than ever'
The market research strategy firm sees men in this region purchasing more personal care items than ever: “An increase in the adoption of cosmetic products among men is observed to be a rising trend in countries such as China, India and Japan.”
In fact, men constitute 19% of the Asia-Pacific cosmetics market. Besides skin care and sun care items, men purchase a fair amount of hair care and styling products, deodorant, and fragrance.
“The growing consciousness towards maintaining one's personal appearance and a considerable increase in disposable incomes, are the two factors that majorly drive the cosmetics market in the Asia Pacific region,” observes ApacMarket.com.
And right now, product sales are best in department stores and supermarkets.
Those sales channels may not lead the pack for long. While, “presently, consumers in the region prefer to buy cosmetics from retail stores be it a supermarket, multi-brand or standalone stores,” e-commerce is quickly gaining prominence in the Asia-Pacific region.
The market research strategy firm forecasts a 10.3% CAGR for online sales of cosmetics in the Asia-Pacific region through 2020.
Brands looking to boost sales, regardless of platform, would be well advised to get involved with naturals. “The growing consciousness for using organic products in the Asia Pacific region, subsequently creates a high demand for the use of organic content in the manufacturing of cosmetics,” according to ApacMarket.com.
The organic and naturals market is performing well enough that dedicated natural personal care manufacturers are gaining acclaim. The report calls attention to a few such companies serving the region: Himalaya, Biotique and Skin Food.
This year through to 2020, the Asia-Pacific cosmetics market is anticipated to reach $126.8bn. Japan, in particular, stands out as the highest cosmetics revenue generating country in the region.
Growth tactics that work well include the sales of new items and the development of new manufacturing, distribution and sales sites. “Product launch and expansions are the two key strategies adopted by market players to strengthen their product portfolios and expand their geographic reach,” according to the analysis.
To contextualize what’s working and how much good data matters, the market research strategy firm’s report profiles leading brands like Biotique, L'Oréal, Avon, P&G, Unilever, Oriflame, Revlon, Kao, Estee Lauder, Biotique, and Shiseido.
The winning edge
Top selling skin care starts with up-to-date knowledge of the newest ingredients, current regulations, and supply-side trends. You can stay competitive by joining in on the online Cosmetics Design Skin Care Ingredients event this week. Registration is FREE.