Asia-Pacific Cosmetics Market is expected to garner$126.8 billionby 2020, registering a CAGR of4.02%during the forecast period, 2015-2020. The region is the second largest market for cosmetics after Europe. It is one of the most diverse and dynamic markets in the cosmetics industry across the world. Skin care, sun care, hair care, color cosmetics, deodorants, and fragrances are some of the popular categories of cosmetics used in the region.
The growth in use of products, such as body moisturizing lotions, sun screen lotions & creams, facial wipes, face wash, hair styling gels, and make up products for men and women fuel the growth of the Asia-Pacific cosmetics market. The increase in consciousness regarding personal appearance among individuals and rising disposable incomes drive the industry growth. . In addition, demand for natural and organic cosmetic products supplement the market growth.
Products for skin and sun care category are widely used and generate largest revenue for the Asia-Pacific cosmetics market. China holds the largest market share in skin care and sun care category, followed by Japan. Retail and online are two primary modes of sale for cosmetics. Presently, customers prefer supermarkets, brand outlets, and other retail means to purchase cosmetic products and hence, the percentage share of retail sale is comparatively high. A trend of using online medium is expected to be on rise during the forecast period. Online mode of sale is expected to grow rapidly at a CAGR of 10.3% during the forecast period.
Asia-pacific Cosmetics Market Report Key Take Aways:
It highlights changes in market dynamics and current & expected trends in the market
The Porters five forces analysis illustrates the potency of the buyers and sellers operating in the market and would help in developing effective strategies
Value chain analysis of the industry provides a clear view of the key intermediaries and value additions at every stage in the chain
The report entails the detailed quantitative analysis of the current market and estimations that assist in identifying the prevailing market opportunities to capitalize on, during the period, 2014-2020
It provides insights of the latent opportunities to help stakeholders in implementing strategic business plans