APAC Skin Care Market to Witness Steady Growth through 2025
Growing concerns pertaining
to skin problems is expected to drive the growth of Asia Pacific skin care
market
According
to TechSci Research report, “Asia
Pacific Skin Care Market By Product Type (Face Care Vs Body Care), By
Origin (Conventional & Organic), By Distribution Channel (Beauty
Parlours/Salons, Multi Branded Retail Stores, Online Channels,
Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Country,
Competition, Forecast & Opportunities, 2025”,
Asia Pacific skin care market is expected to witness steady CAGR during the
forecast period. Increasing demand for skin care products across all age
groups, particularly young population, is
one of the major factors accounting for the growth of Asia
Pacific skin care market. Moreover, rising number of working women in the
region is leading to higher demand for personal care products, which is
expected to bode well for the growth of Asia Pacific skin care market through
the forecast period. In addition to this, change in lifestyle patterns due to
rapid urbanization is expected to positively influence the growth of Asia
Pacific skin care market in the years to come. Also, technological and product
innovations is making headway for the growth of Asia Pacific skin care market. Along
with this, emergence of online brands along with increasing internet users is expected
to positively contribute to the market growth in the next five years. However,
there are some factors that might act as major impediments to the growth of
Asia Pacific skin care market through 2025 including lower shelf life of the skin
care products.
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Asia
Pacific skin care market can be segmented based on product type, origin,
distribution channel, company, and country. In terms of distribution channel,
the market is fragmented into beauty parlours/salons, multi branded retail
stores, online channels, supermarkets/hypermarkets, exclusive retail stores and
others. Among them, online channels segment is expected to dominate the market during
the next five years on account of availability of heavy discount on products. Additionally,
consumers lack time to visit physical stores to purchase products owing to
their hectic lifestyles, which is propelling the segmental growth across the
region. Based on product type, the market can be categorized into face care and
body care. Out of these, the face care segment dominated the market until 2019
and is expected to grow at the highest CAGR during the forecast period on
account of growing demand for skin brightening face creams to reduce acne
scars, freckles, age spots, and discoloration.
Avon Products, Inc., Beiersdorf Inc,
Estée Lauder Companies Inc, L'Oréal S.A., The Procter & Gamble Company,
Unilever PLC, AmorePacific Corporation, Amway Corporation, Aveda Corporation,
Dr BABOR GmbH & Co KG, are among others are the leading players operating in
Asia Pacific skin care market. The players are adopting
several growth strategies to enhance the market scenario of skin care. Other
competitive strategies include product launches; mergers & acquisitions;
agreements, partnerships, and collaborations; and expansions to diversify their
product portfolios in order to strengthen their market position. Aggressive
marketing strategies of existing players along with massive investment in
research and development to create innovative products have also led to
significant increase in sales.
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“Asia Pacific skin
care market is expected to register steady growth during the next five years on
account of fast-growing middle-class population along with rise in their
disposable income in the region. Furthermore, growing e-commerce sector is
further anticipated to boost the market growth for skin care over the coming
years. In addition to this, surging awareness regarding the benefits of using
personal care products, is further expected to propel the market growth through
2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Asia Pacific Skin Care Market By Product Type (Face
Care Vs Body Care), By Origin (Conventional & Organic), By Distribution
Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels,
Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Country,
Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Asia
Pacific skin care market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Asia Pacific skin
care market.
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