Facial Care Market: Active Players (L’Oreal S.A, Unilever Ltd., and Shiseido Co. Ltd., The Procter and Gamble Company) - Trends 2024

The prime driver for the Asia Pacific facial care market is the increasing ease of purchasing international facial care products. Due to the steady urbanization of dynamic APAC countries such as India and China, the number of supermarkets and hypermarkets has increased rapidly in the last few years. As a result, even international brands such as L’Oreal have come within the grasp of the average APAC consumer.

Apart from the increasing number of supermarkets, the smooth growth of the online retailing sector in Asia Pacific has provided a significant boost to the region’s facial care market, with manufacturers earning a significant portion of their revenue from their own or third-party online shopping portals.

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Another key driver for the Asia Pacific facial care market is the increasing demand for multifunctional products. While cosmetics products have always banked on their diversity to ensure a steady source of revenue, the demand for multipurpose skincare and facial care products is rising at a marked rate. The hectic lifestyles of urban consumers, the key consumer group for the facial care market, means they don’t have the time for elaborate facial care, and a convenient all-in-one solution is thus highly in demand. This is an influential driver for the APAC facial care market, as it is likely to have a major impact on the future of the market in the coming years.

Growing Demand for “Chemical-free” Formulations to Shape APAC Facial Care Market

An influential trend in the APAC facial care market is the increasing demand for naturally sourced formulations. The increasing perception among consumers that artificial chemicals are more harmful than natural ingredients is responsible for this trend, which is expected to have a key role in the development of the APAC facial care market in the coming years. The increasing demand for cosmetic products from men is another influential factor affecting the market’s growth, even though women are likely to remain the major consumer segment of the APAC facial care market.

China Emerges as Dominant Regional Segment, Skin Whitening and Anti-aging Creams to Retain Dominance

By product type, skin whitening and anti-aging creams emerged as the major segment of the Asia Pacific facial care market in 2012, with a valuation of close to US$8.6 bn. While the dominance of this segment is likely to remain unchecked in the coming years, facial creams and face washes are also expected to witness a steady rise in demand.

Geographically, China, Japan, and India held a market value of more than US$1 bn in 2012, with China emerging as the regional leader in the market.

APAC Facial Care Market to Exhibit 6.90% CAGR 2013-2019

The revenue of the Asia Pacific facial care market stood at around US$24 bn in 2012 and is likely to rise to US$39.75 bn by 2019. This constitutes a robust CAGR of 6.90% between 2013 and 2019.

The information presented in this review is based on a Transparency Market Research report, titled, ‘Facial Care Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.’

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