Follow us twitter facebook
Edition: Global
Click here to subscribe toour free weekly newsletter click here
Markets & trends

Skincare masks take the Asia-Pacific beauty market by storm

As the Asia-Pacific beauty market continues growing, face masks have fuelled much of the growth of the skincare segment, achieving a 13% annual growth between 2012 and 2017, revealed Euromonitor. The region, which is the leading global beauty market, also recorded a strong growth in the colour cosmetics segment.

Face masks have been the source of much of the growth of skincare products in Asia. Photo: © Kpg Ivary / shutterstock.com

Face masks have been the source of much of the growth of skincare products in Asia. Photo: © Kpg Ivary / shutterstock.com

Face masks boom

At the in-cosmetic Asia tradeshow, which was held in Bangkok last month, global market intelligence company Euromonitor International revealed that the Asia Pacific (APAC) beauty market has achieved a 6% growth rate over the past years (Compound Annual Growth Rate - CAGR) and 51% of global sales come from the region.

While face moisturisers continue to command the biggest share of the Asian beauty products market, with a value of almost US$19bn, face masks have been the source of much of the growth, achieving CAGR of over 13% (2012-2017) - accounting for US$5bn of sales.

In Asia, mass skincare grew at 6% CAGR over the same time period, eroding the premium skincare category’s market share. “South Korean brands, such as The Face Shop, Etude House and Innisfree, fuelled the mass cosmetics boom by fulfilling Asian consumers’ need for self-indulgence and affordability through creative brand storytelling, eye-catching packaging, diverse product ranges and low-price points,” said Sunny Um, Beauty & Fashion Analyst at Euromonitor International.

However, contrary to this trend, in China, demand for mass products has been less than that of premium, despite mass skincare generating value sales 250% larger than premium skincare.

BB and CC creams boost colour cosmetics

Touching on the rapid growth of the colour cosmetics segment, Euromonitor revealed that Asia is also leading the global market with a value of US$15bn last year. In the APAC region, foundations and concealers are the largest category in the segment, with a worth of almost US$5bn, but BB and CC achieved a CAGR of 25% (2011-2016) despite modest sales of US$1bn - showing the huge potential in this area.

Genderless beauty

The global market intelligence company also unveiled a number of growing trends from ‘genderless’ beauty. Across Asia, more men experiment with products that have traditionally been used exclusively by females, while there is a growing number of consumers looking to ‘personalise’ products to their individual tastes.

Eventually, in the context of an ageing population in Asia, in particular in Japan, South Korea and China, Euromonitor also shared insights into the use of cosmetics by the over-50s global population. It noted that half of women aged over 60 used foundation at least once a week, while 59% of the same demographic used lipstick and 52% wore eye make-up to the same frequency.

© 2017 - Premium Beauty News - www.premiumbeautynews.com
latest news
Focus
spip-vignette

MakeUp in Los Angeles unveils conference programme

The third edition of MakeUp in LosAngeles will open its doors on February 7 and 8 2018 in a new venue, the Barker Hangar, concomitant to the first edition of Luxe Pack Los Angeles. The event’s conference programme will feature thirty speakers hosting fifteen conferences and half a dozen round tables focused on the new beauty (...)

read more
job opportunities
Experts’ views
A focus on growing Asia Pacific region

Quadpack
A focus on growing Asia Pacific region

Recognising the steady growth of Asian domestic markets, Quadpack is expanding its presence in the region. The international packaging group has created a dedicated sales operation to service brands and contract fillers in the Asia Pacific region, led by Regional Director Jason Smith. Asian beauty brands now have a new source for (...)

read more
Webinars
E-shop - latest publications
Regulations on the registration of cosmetic products in China
200.00 € excl. tax
Regulations on the registration of cosmetic products in China (part2)
95.00 € excl. tax
Safety of perfumes and cosmetics. Belarus, Kazakhstan and Russia
200.00 € excl. tax
Go to top ↑

Features

We use cookies to give you a better browsing experience. By continuing your visit to this site, you accept the use of cookies. Read more and set cookies
close