Facial Care Industry Thriving in Asia Pacific
Asia Pacific Facial Care Market is Booming
The facial care market in the Asia Pacific region has seen tremendous growth in
the past few years and experts believe this growth will continue in the coming years
as well. Let us take a deep dive into the Asia Pacific facial care market and
understand the key trends, drivers and opportunities.
Growing Beauty Consciousness
With rising incomes and exposure to global beauty trends through social media
and internet, people in the Asia Pacific region have become highly beauty and
skin care conscious. There is a growing desire among men and women to look
youthful and avoid signs of aging. This has majorly boosted the demand for
various facial care products that claim to reduce wrinkles, dark spots, acne,
etc. According to a report by Mordor Intelligence, the Asia Pacific facial skin
care market is expected to grow at a CAGR of over 6% during 2020-2025.
Rise of Natural and Organic Products
While synthetic and chemical based products were popular until a few years
back, there is now a marked shift towards natural and organic skincare products
in the region. The growing health and wellness trend has made consumers
skeptical of products containing harsh chemicals and artificial ingredients.
Brands are launching natural face washes, serums, creams containing ingredients
like aloe vera, coconut oil, green tea, etc. which are considered safer for
sensitive skin. Some popular all-natural and organic facial care brands from the
region include Vanayo, Innisfree, Cosrx, Neogen, etc.
Focus on Customization
One of the key trends gaining momentum is customized and personalized skincare.
Major international as well as local brands have launched facial diagnostic
tools and questionnaires to assess specific skin concerns of consumers. Based
on the results, they provide customized regimen recommendations and products.
Some brands have also introduced custom blending stations where people can mix
and match active ingredients as per their requirement and skin type to create
their own unique facial serum or cream. This allows consumers to target only
their key issues rather than following a one-size-fits-all approach.
Rise of Male Grooming
While the facial care industry was dominated by women until a few years back,
there is a growing interest among men to care for their skin as well. Factors
like increasing disposable incomes, changing social norms and growing social
media influence have made men more aware of their looks and appearance. As a
result, the male grooming category has grown by leaps and bound in Asia Pacific
region. Major companies have launched exclusive skin, hair and body care ranges
for men containing ingredients suited for their oilier skin type. Popular
brands include Beardo, Man Arden, The Man Company, etc.
Booming E-Commerce and Direct to Customer Model
E-commerce has emerged as one of the biggest growth drivers for the facial care
industry in Asia Pacific region. The increasing smart phone and internet
penetration has made online shoppinghassle-free and seamless. Beauty and
skincare products are among the top selling categories on e-commerce platforms.
This has encouraged many brands to adopt direct to customer models by launching
their own websites and selling through marketplaces. Some brands have also
adopted innovative models like subscription boxes containing curated products
customized for different skin concerns delivered regularly at doorsteps. This
is allowing smaller brands to penetrate international markets without depending
on retail partnerships.
Focus on Specialized Formulas
With growing awareness, consumers are no more looking for general purpose
facial creams but rather products targeted for specific concerns like
anti-aging, dark spots removal, acne prone skin, etc. To tap into this demand,
brands are launching serums and creams with concentrated formulas having high
percentage of active ingredients clinically tested to visibly improve
particular issues. Some popular specialized product categories include
anti-pollution creams, pigmentation fighters, under eye treatments, intense
hydration creams, etc. This hyper-focused approached is resonating well with
the discerning Asia Pacific shoppers.
Premiumization of Products
While mass market brands will continue to cater the volume needs, premium and
luxury skincare brands with formulations backed by advanced technology and
research are gaining remarkable popularity. Consumers today are willing to
splurge on high quality products that deliver results and address issues in a
much more effective way. To meet the increased demand for premium offerings,
international luxury brands have entered Asia Pacific markets and local brands
are also following suit. Some examples include SK-II, Estee Lauder, Sunday
Riley, Dr. Barbara Sturm, etc.
Influencer Led Marketing
The influence of beauty influencers and bloggers on purchase decisions cannot
be ignored, especially among milennial shoppers. Leveraging the reach and
engagement rates of social media influencers has become an integral part of
marketing strategies for facial care brands. From product endorsement and
reviews to custom made content around application techniques and routine
guidance, influencer roles have expanded manifold. They are playing a crucial
role in bringing niche brands to the forefront, increasing awareness and
driving trial among their large follower base. In return, brands are investing
significantly in influencer marketing budgets.
Asia Pacific Facial Care Market Prospects
With rising disposable incomes, increasing digitization and exposure to global
trends, the facial care industry dynamics are undergoing a constant evolution
in Asia Pacific region. While mass brands will continue catering to everyday
needs, specialized formulations, customized offerings, natural products and
premiumization are some key trends that will drive future growth. Both
international as well as local companies will continue vying for larger pie by
launching effective and targeted marketing initiatives. With a huge middle class
population and rapid economic development, the Asia Pacific region is emerging
as one of the most promising markets globally for the facial care industry.
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