APAC Beauty and Personal Care Products Market (2021 – 2026): Notable Players Include L’Oreal SA, Kao Corporation, Shiseido and Beiersdorf – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific Beauty and Personal Care Products Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.

The Asia-Pacific beauty and personal care products market was valued at USD 163.92 billion in 2020, and it is projected to witness a CAGR of 6.38 % during the forecast period (2021 – 2026).

The COVID-19 pandemic has influenced Asian consumers’ spending habits and purchase decisions leading to a slight decline in the market growth, owing to various governments imposing multiple measures intended to slow down the spread of COVID-19.

Some basic initiatives include social isolation directives, limitations on business opening hours, and travel restrictions. Following are some major impacts on the market. For instance:

The consumers in the market are concerned regarding hygiene. Thus, the category grew with the onset of the pandemic in the market, and the sales of shower gel escalated during the period. Furthermore, the web search incidents for “skincare at home” increased by more than 100% since February 2020?

The key driver in the market is the desire for a presentable personal image among Asian consumers, which also led to their awareness of personal hygiene habits.

The consumer’s growing concern about their health and hygiene enhanced the demand for natural or organic products in the region. Such factors compelled manufacturers to improve their product offerings to match the dynamically changing consumer requirements.

Amid the growing prevalence of hair thinning, loss of volume, dryness, and several other hair-related concerns among the consumers in Asian countries like India, hair care products are emerging as the most affluent and cost-effective way.

Hindustan Unilever retained its market leadership, aided by the strong performance of its flagship brands, such as Dove and Sunsilk, while Patanjali Ayurved recorded the fastest growth rate in terms of sales in 2019 in the Indian market.

With the increasing penetration of the internet, the online channels for the purchase of consumer goods witnessed a rapid growth in the last there or four years in India.

This category attracted a few specialists, like Nykaa, Purplle, Nnnow, etc., who are utilizing the increasing e-tailing growth and vying for a significant pie in the online cosmetics space. Nykaa offers more than 600 brands in both offline and online stores in India.

Key Market Trends

Increased Penetration of Skin Care Products

The market has witnessed a significant demand for skin care products due to increasing interest in natural formulations in facial care regimes, such as cleansers.

Moreover, increased concerns regarding skin problems like skin blackening and burn are also driving the market growth during the study period. Growing at an increasing rate, the beauty face mask penetration in the Asia-Pacific region experienced the highest growth in China. In contrast, beauty face mask penetration in both Indonesia and Malaysia grew by just over eight percent in 2019.

Furthermore, manufacturers of beauty and personal care products are launching products targeted at specific consumer groups. For instance, in 2019, Neutrogena developed a 3D-printed face mask, MaskiDT, to analyze skin and deliver active ingredients exactly where it is needed.

China Holds the Largest Share in the Asia-Pacific Cosmetics Products Market

The increasing awareness about a healthier lifestyle among individuals for healthy and hygienic living has contributed to the increase in per capita expenditure on household products (including personal care products) across China.

China is one of the world’s hotspots and fastest-changing beauty markets, introducing industry-leading innovations and setting trends globally. Products with claims, such as UV protection, long-lasting, moisturizing/hydrating, botanical/herbal, whitening, and anti-aging, accounted for a considerable number of product launches.

Haircare products having specific functions (such as anti-aging) and natural hair colorants are witnessing significant growth, owing to the high adoption rate of natural hair color to enhance hair styling and fashionable statements and the growing popularity of hair texturizing products.

Companies Mentioned

• L’Oreal SA
• The Procter & Gamble
• Beiersdorf AG
• Avon Products Inc.
• Unilever PLC
• The Estee Lauder Companies Inc.
• Shiseido Co. Ltd
• Kao Corporation
• Revlon Inc.
• Oriflame Holding AG

For more information about this report visit https://www.researchandmarkets.com/r/ue39xg

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