PUBLISHER: Inkwood Research | PRODUCT CODE: 1268528
PUBLISHER: Inkwood Research | PRODUCT CODE: 1268528
The Asia-Pacific beauty & personal care market is projected to register a CAGR of 3.50% over the estimated period of 2023-2032. Some of the leading factors influencing the market growth of the region include the surging need for natural as well as organic products, the rising young population, and manufacturers' efforts toward improving their product lines in order to fulfill the continually transitioning demands of consumers.
China, India, Australia, Thailand, Japan, South Korea, Indonesia, and Rest of Asia-Pacific are evaluated for the Asia-Pacific beauty & personal care market growth assessment. In Thailand, surveys conducted by beauty & personal care brand owners revealed that consumers are becoming less conservative with regard to appearance, and this trend is particularly notable among the younger population. Furthermore, people have limited knowledge about the ingredients or usage of beauty & personal care products, with the majority of consumers relying on their long-term favorite brands.
In Japan, the beauty & personal care market is fragmented, given the presence of several brands. In addition, the entry of new companies has also accelerated fragmentation. For instance, Asahi Calpis Wellness introduced the probiotic skin care brand Lactina, supplemented by the firm's strong reputation in probiotics along with its globally well-known drink, Calpis/Calpico.
Conversely, in Indonesia, the Korean wave has had a significant impact on Korean beauty brands' demand, facilitating K-Beauty skin care routines. The latest and most popular routine is the use of facial sheet masks since they are compact and very easy to use. Hence, these factors are anticipated to supplement the Asia-Pacific beauty & personal care market growth over the forecast period.
Some of the key firms operating in the market include Kao Corporation, Unilever PLC, Shiseido Company Limited, etc.