The recently published Mintel’s annual Asia Pacific: Beauty and Personal Landscape has focused on the evolution of consumer trends in the region and market opportunities for brands. “The beauty and personal care industry in Asia Pacific has taken a hard hit due to the COVID-19 pandemic. Consumer attitudes and behaviours have shifted as a result and the industry has faced unprecedented challenges, but also opportunities. Innovation is also flourishing in the sector,” said Angelia Teo, Research Manager, Mintel Beauty & Personal Care, Asia Pacific.
Key highlights of the annual report include:
Growing consumer interest in sustainability and health
The outbreak of COVID-19 has further heightened consumers’ awareness of sustainability and health. According to Mintel’s Global COVID-19 Tracker, 87% of Indian consumers have indicated that environmental issues have become a higher or lower priority for them– second only to eating healthily. Meanwhile, Mintel Global Consumer research shows that 78% of South Korean consumers would like to see more innovative environment-friendly products, and 90% of consumers in Japan think it is important to manage their emotional wellbeing.
“Therefore, how to share and showcase sustainability initiatives and precisely respond to consumer’s health needs is one of the most important factors for brands to engage consumers now and in the years to come,” explained Mintel.
Haircare, clean and green beauty drive innovation and new experiences
Regardless of how the market changes, consumers are always ready to embrace new concepts and experience new products. China’s haircare market has maintained steady growth over the past five years with a compound average growth rate (CAGR) of 4.8%, according to Mintel research. Haircare products’ import value in the first half of the year increased 21%, compared with the same period the previous year. Interest in haircare is continuously growing among Chinese consumers, with many haircare brands taking inspiration from the skincare industry and innovating around textures and ingredients.
Moreover, Mintel Global Consumer research indicates that 75% of consumers in Australia and New Zealand love trying new experiences. As competition for clean and green beauty continues to grow, especially from Western markets, ANZ beauty brands should work harder for their consumers and lean into expertise to stand out in the congested beauty market, rather than just focusing on clean or proving dermatological efficacy or safety.
Read the full report: Asia Pacific: Beauty and Personal Landscape.
