Asia Pacific Beauty and Personal Care Products Market Scope, Insight, Report 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia Pacific Beauty and Personal Care Products Market size at USD 26.73 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Asia Pacific Beauty and Personal Care Products Market size to expand at a CAGR of 8.76% reaching a value of USD 32.86 billion by 2030. The launch of a wide range of products with various features, such as chemical-free, vegan, and cruelty-free products, and a strong emphasis on men's grooming are major growth factors for the Asia Pacific Beauty and Personal Care Products Market. Furthermore, during the period in analysis, the Asia Pacific Beauty and Personal Care Products Market is expected to expand at a high CAGR due to the growing e-commerce sector and the increasing introduction of customized beauty and personal care products.
Opportunity: Launch of innovative products
The rising demand for beauty and personal care products is resulting in industry players launching a wide range of products that meet a wide range of consumer demands, such as different skin types and issues. For instance, Baemin, a South Korea-based delivery app, launched its skincare and makeup brand in the Vietnamese beauty market to target the market demand for K-beauty in the country. Amorepacific Corp., a South Korea-based cosmetic giant, introduced its luxury makeup brand Hera in Japan. Such launches of new products provide accessibility to a wide range of products for consumers, eventually driving the Asia Pacific beauty and personal care products market.
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Asia Pacific Beauty and Personal Care Products Market
Segmental Coverage
Asia Pacific Beauty and Personal Care Products Market – By Product Type
Based on product type, the Asia Pacific Beauty and Personal Care Products Market is segmented into baby & child-specific products, bath & shower, color cosmetics, fragrance, hair care, men’s grooming, oral care, skin care, sun care, and others (including depilatories and deodorants). The skin care segment holds the largest share of Asia Pacific Beauty and Personal Care Products Market by product type. The rising prevalence of various skin issues, such as acne, dark circles & dark spots, dryness, and face redness, demands proper and regular skincare to maintain skin health, resulting in higher demand for skincare products.
Asia Pacific Beauty and Personal Care Products Market – By Country
The in-depth research report on the Asia Pacific Beauty and Personal Care Products Market covers the market in a number of major APAC countries, including China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and the rest of APAC. China dominates the Asia Pacific Beauty and Personal Care Products Market, followed by Japan. An industry research indicates that yearly spending on beauty goods is around USD 58.3 billion for Chinese consumers and approximately USD 36.9 billion for Japanese customers. The strict beauty standards in these countries and the high focus on personal care and hygiene among both men and women can be attributed to the growing demand for beauty and personal care products in these countries.
Competitive Landscape
Major players operating in the Asia Pacific Beauty and Personal Care Products Market include Amway India Enterprises, Avon Products Inc., Beiersdorf AG, Colgate-Palmolive, Dabur Ltd, Godrej Group, Johnson & Johnson, Lakme, L'Oréal SA, Procter & Gamble, and Revlon Inc.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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