Asia-Pacific Skin Care Market Outlook, 2028

Skincare culture in the Asia-Pacific region is known for its unique and diverse practises, with a strong emphasis on skincare as an important part of daily life and self-care. Many Asian skincare routines are known for their multi-step approach, often involving several products and steps. This typically includes cleansing, toning, treating, moisturising, and protecting the skin, with the use of specific products for each step. This multi-step approach is often seen as a form of self-care and a way to pamper the skin. Hydration and moisture are considered essential in Asian skincare culture. Many Asians believe that well-hydrated and moisturised skin is healthy, plump, and youthful-looking. Therefore, products that provide hydration, such as toners, essences, serums, and moisturisers, are often a staple in Asian skincare routines. In some Asian countries, there is a cultural preference for fair and bright skin, which is often associated with beauty and youthfulness. As a result, many skincare products in the Asia-Pacific region contain ingredients that are believed to brighten and lighten the skin tone, such as vitamin C, niacinamide, and arbutin. In some Asian countries, there is a belief that beauty comes from within, and skincare is not only about topical products but also about maintaining a healthy lifestyle and diet. This can include consuming foods and supplements that are believed to benefit the skin, such as collagen, green tea, and probiotics. Traditional and herbal ingredients have a significant presence in Asian skincare culture. Many Asians believe in the efficacy of natural remedies and incorporate traditional and herbal ingredients, such as ginseng, green tea, rice, and turmeric, into their skincare routines. These ingredients are often known for their antioxidant, anti-inflammatory, and skin-nourishing properties.

According to the research report, Asia-Pacific Skincare (Facial Care, Body Care & Lip Care) Market Outlook, 2028 the Asia-Pacific market is anticipated to grow at a 6.80% CAGR by 2023-28. The market for skin care products is steadily growing due to the increase in female population and the preference of females for innovative products such as organic eye gel, herbal lotion, and Halal products on the market. Furthermore, an increase in the number of women in the workplace across Asia-Pacific is increasing the demand for skin care products, owing to increased concerns about beauty and awareness of appearance in the workplace. As a result, an increase in demand for skin care products from working professionals is one of the primary drivers driving market expansion. Thus, an increase in the number of working women in numerous nations in the region leads to an increase in purchasing power, which helps to expand markets. Furthermore, the need for skincare products that combat indications of fatigue, stress, and premature ageing is constantly increasing among working women, pushing the skin care products market expansion. The increased participation of women in the labour force in emerging nations drives the demand for convenience. Food alone at irregular mealtimes is becoming increasingly popular as a result of changing food patterns, changing attitudes towards cooking, and hectic lifestyles. Thus, a lack of time and changes in family dynamics have resulted in increased consumption of frozen Generation X meals, which require less preparation time than cooking meals at home. Furthermore, the food service industry's availability of packaged, ready-to-eat foods, bakery products, and sweets promotes the growth of the Asia-Pacific skin care market.

In highly growing economies such as China, South Korea, India, and Indonesia, rising populations, rapid urbanisation, and increased per capita spending on personal care products all contribute to the region's skincare market's growth. Furthermore, the growing availability of affordable skincare products contributes to the growth of the skincare market. As a result, key players focus heavily on product innovation and mergers and acquisitions as their primary strategies for consolidating the market under consideration. Galderma, the world's largest dermatology company, for example, completed the acquisition of Alastin Skincare Inc., a specialist Aesthetics Company focused on producing new and clinically-tested physician-dispensed skincare products, in January 2022. The expansion of the chemical industry in India and China, both of which are backed by regulatory support, is expected to ensure continuous raw material access to skincare product manufacturers and thus be a positive factor for the market in Asia Pacific over the forecast period. China is one of the major countries contributing to the growth of the global cosmetics and skin care products market, both in terms of consumption and production. Various government policies are also boosting the country's demand for skin care goods. Furthermore, new industry players with superior organic skin care product portfolios are emerging in the country. Pula, for example, launched a comprehensive selection of clean-label organic skin care products for children on Tmall and Douyin in January 2022. Furthermore, changing lifestyles and rising disposable incomes in nations such as China, India, and Japan have led to higher expenditure on wellness and personal care goods, which will drive product demand.

On the other hand, South Korean brands, such as The Face Shop, Etude House, and Innisfree, fuelled the mass cosmetics boom by fulfilling Asian consumers’ need for self-indulgence and affordability through creative brand storytelling, eye-catching packaging, diverse product ranges, and low price points. Furthermore, with the growing popularity of K-Beauty, beauty and personal care in South Korea will remain in the global spotlight. Consumer thirst for something fresh and unique will encourage producers to continue spending as the market matures. As a result, the creation of new brands and goods with global appeal will be critical. Korean brands are consistently expanding in terms of the number of consumers, predominantly in the skin care product segments. Around 90% of cosmetics products are imported from foreign brands in the Asia Pacific, such as Shiseido, Fendi, Esteé Lauder, Lancome, L'Oreal, and Clarins. Furthermore, local cosmetics brands like Lana, Thorakao, Biona, and Sao Thái Duonga are working to strengthen their market positions. As the number of beauty salons grows in most Indian villages and cities and more extensive shopping malls in metropolitan areas carry beauty and skincare items from popular personal care brands, India provides a large market. The need for organic skin care products is also increasing throughout Asia, owing to skin disorders caused by chemicals and environmental challenges. This region is also gaining ground in terms of development as folks in the region become more aware of the benefits of skincare.

Consumers across the region are inclined towards organic beauty and personal care products, especially those formulated using Ayurvedic, botanical, and herbal ingredients, which are expected to drive market growth during the study period. Another element driving market growth is growing knowledge about the dangers of chemicals and synthetic items. Furthermore, the increased premiumization of beauty and personal care goods, as well as customers’ need for more targeted solutions, is fuelling the expansion of personalised and customised beauty and personal care products. Furthermore, key players are focusing heavily on product innovation and mergers and acquisitions as their primary strategies for consolidating the market under consideration. For example, Kao Corporation, through its subsidiary Kao Salon Japan, will introduce its prestige hair salon brand, Oribe, in Japan in 2021. The brand includes 23 product lines that are widely distributed in Japan. In recent years, Asia has been a source of innovation for the beauty industry, with the West particularly fascinated with K-Beauty (from Korea) and more recently J-Beauty (from Japan). Due to increased interest in natural formulations in facial care regimens, such as cleansers, the industry has seen rising demand for skin care products. Furthermore, rising worries about skin disorders such as blackening and burns are driving market expansion during the study period. Beauty face mask penetration in the Asia-Pacific area has been expanding at a rapid pace, with China experiencing the most rapid increase. In addition, makers of beauty and personal care goods are introducing items that are aimed at specific market groups. Neutrogena, for example, developed a 3D-printed face mask, MaskiDT, in 2019 to analyse skin and deliver active chemicals precisely where they are needed.

Based on the report, the market is further segmented into various body care products, including body lotion, body wash, and others. Among them, the body lotions segment is dominating the market. Many countries in the Asia-Pacific region have diverse climates, ranging from tropical to subtropical to temperate. These varying climatic conditions can impact the health of the skin, making proper body care and lip care crucial. For instance, hot and humid climates can cause excessive sweating, leading to body odour and skin irritation, while cold and dry climates can result in dry and chapped lips. Hence, regular body care routines are necessary to keep the skin healthy and comfortable in changing weather conditions. Many Asia-Pacific countries have a long history of using traditional remedies for skincare, including body care and lip care. For instance, in countries like India and Indonesia, Ayurveda and traditional herbal remedies are widely practised to maintain healthy skin. These remedies often include natural ingredients that are believed to have beneficial effects on the body and lips, such as coconut oil, shea butter, turmeric, and honey. These traditional practises have been passed down through generations and continue to be an important part of body care and lip care routines in the Asia-Pacific region. The presence of several unorganised vendors operating in the skincare products market poses a serious threat to the market in APAC, especially in China and India; however, due to the restrictions on the operations of retail outlets and manufacturing facilities, the sales of skincare products from unorganised vendors are likely to decline and provide opportunities to established vendors to capture the market through online retailing. Based on the distribution channel, the specialty retail store segment is dominating the market, whereas the online segment is growing at a higher CAGR by 2028.

Recent Developments:

• In June 2022, the Shiseido Group launched a new skincare brand, SIDEKICK, designed to address skin concerns specific to Gen Z men in Asia. The brand offers five types of face washes, a moisturiser, and a sheet mask.
• In February 2022, the Shiseido Company Limited released Perfect Cover Foundation MC*1 and Perfect Cover Foundation VC*2, which cover various skin discolorations and are exclusive products from the PERFECT COVER brand of Shiseido Life Quality Makeup. The Perfect Cover series (four products, ten items) has been released in Japan.
• In November 2021, Procter & Gamble recalled more than 15 different deodorants and aerosol sprays manufactured under its Old Spice and Secret brands. The recall was initiated after the company found that the sampling of its aerosol products detected benzene, a known carcinogen, in a suite of deodorants. Such recalls impact the pockets of the company and may impact revenue. It also impacts the company's brand value and thus affects its reputation in the market, which may restrain its growth in that market.

Major Companies present in the market:

L'Oreal S.A, Unilever Public Limited Company, Beiersdorf AG, The Estee Lauder Companies Inc., Johnson & Johnson , Natura&Co, Shiseido Company Limited, Procter & Gamble, Revlon, Inc., Clarins Group, Oriflame Cosmetics AG, Amorepacific Corporation , Kao Corporation, Coty Inc., Colgate-Palmolive Company , Mot Hennessy Louis Vuitton SA (LVMH)

Considered in this report

• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia-Pacific Skincare market with its value and forecast along with its segments
• Country-wise Skincare market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Category

• Facial care
• Body Care
• Lip Care

By Facial care

• Face cream
• Face Wash and Cleanser
• Sun Care (Sunscreen (SPF) Products)
• Facial Masks (sheet mask, Leave in & wash off)
• Toners
• Serums
• Shaving Lotions & Creams
• Others (Exfoliators, Eye Creams, scrub, bleach)

By Body care

• Body Lotions
• Body wash
• Others (Body Oil, Body Powder)

By Lip care

• Lip Balms
• Lip Scrubs
• Lip Masks
• Lip oil
• Others

By Pricing Range

• Mass
• Premium

By End User

• Men
• Women
• Unisex

By Distribution channel

• Specialist Retail Stores
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail Channels
• Other Distribution Channel

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this; the author has started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Skincare industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.