APAC Skin Care Market to Witness Steady Growth through 2025
Growing concerns pertaining to skin problems is expected to drive the growth of Asia Pacific skin care market
According to TechSci Research report, “Asia Pacific Skin Care Market By Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Country, Competition, Forecast & Opportunities, 2025”, Asia Pacific skin care market is expected to witness steady CAGR during the forecast period. Increasing demand for skin care products across all age groups, particularly young population, is one of the major factors accounting for the growth of Asia Pacific skin care market. Moreover, rising number of working women in the region is leading to higher demand for personal care products, which is expected to bode well for the growth of Asia Pacific skin care market through the forecast period. In addition to this, change in lifestyle patterns due to rapid urbanization is expected to positively influence the growth of Asia Pacific skin care market in the years to come. Also, technological and product innovations is making headway for the growth of Asia Pacific skin care market. Along with this, emergence of online brands along with increasing internet users is expected to positively contribute to the market growth in the next five years. However, there are some factors that might act as major impediments to the growth of Asia Pacific skin care market through 2025 including lower shelf life of the skin care products.
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Asia Pacific skin care market can be segmented based on product type, origin, distribution channel, company, and country. In terms of distribution channel, the market is fragmented into beauty parlours/salons, multi branded retail stores, online channels, supermarkets/hypermarkets, exclusive retail stores and others. Among them, online channels segment is expected to dominate the market during the next five years on account of availability of heavy discount on products. Additionally, consumers lack time to visit physical stores to purchase products owing to their hectic lifestyles, which is propelling the segmental growth across the region. Based on product type, the market can be categorized into face care and body care. Out of these, the face care segment dominated the market until 2019 and is expected to grow at the highest CAGR during the forecast period on account of growing demand for skin brightening face creams to reduce acne scars, freckles, age spots, and discoloration.
Avon Products, Inc., Beiersdorf Inc, Estée Lauder Companies Inc, L’Oréal S.A., The Procter & Gamble Company, Unilever PLC, AmorePacific Corporation, Amway Corporation, Aveda Corporation, Dr BABOR GmbH & Co KG, are among others are the leading players operating in Asia Pacific skin care market. The players are adopting several growth strategies to enhance the market scenario of skin care. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diversify their product portfolios in order to strengthen their market position. Aggressive marketing strategies of existing players along with massive investment in research and development to create innovative products have also led to significant increase in sales.
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“Asia Pacific skin care market is expected to register steady growth during the next five years on account of fast-growing middle-class population along with rise in their disposable income in the region. Furthermore, growing e-commerce sector is further anticipated to boost the market growth for skin care over the coming years. In addition to this, surging awareness regarding the benefits of using personal care products, is further expected to propel the market growth through 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Asia Pacific Skin Care Market By Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Asia Pacific skin care market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific skin care market.
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