32 TRENDING TECHNOLOGIES
in-cosmetics Asia 2023: What's trending in Asia
Karen Yee - Azelis
In the vibrant and diverse landscape of the Asia Pacific (APAC) region, the personal care industry has transcended mere maintenance. It has become an instrument for self-expression, an outlet for wellness, an area of scientific advancement, and a domain for sustainable and safe consumption development. This article explores the dynamic shifts in
APAC’s personal care market, highlighting the latest trends shaping the industry and the role personal care plays in meeting the evolving needs and desires of APAC consumers.
Personal care market in APAC In 2021, the beauty and personal care industry witnessed a solid rebound after a challenging 2020, and the industry is expected to register higher growth in 2023 compared to 2022 with 8.5% versus 4.2% year-on-year growth.1 The APAC personal care retail market is
projected to grow at a compound annual growth rate (CAGR) of 5.3% between 2017 and 2026. In 2017, the personal care retail market was valued at €131 billion ($138 billion), and this is projected to reach €209 billion by 2026, showing an estimated significant growth of close to 60%.2 The region’s rising median household income,
heightened awareness, and improved accessibility to beauty and personal care products, as well as the pace of digitalization expanding to a broader consumer base, all converge with the forces of inflation and intensifying competition. Together, these factors pose challenges but, at the same time, open opportunities for every personal care manufacturer to craft a unique market positioning. This article delves into the latest trends in the dynamic Asia personal care landscape, identifying three core trends: ‘From perfect to zestful’, ‘Inner peace meets beauty’, and ‘Advanced efficacy demands’.
1. From perfect to zestful The beauty industry has seen a shift in focus from achieving perfection to embracing playfulness and individuality. Beauty and personal care products are adopted less to cover individual flaws but more to experiment and discover what suits one’s needs and enhance their unique identity. The proliferation of beauty-related content on social media platforms like Instagram, YouTube, and TikTok has also introduced a diverse range of beauty styles and encouraged consumer experimentation. According to Mintel’s Global Consumer Beauty, Personal Care
PERSONAL CARE November 2023
& Household Survey conducted in March 2023, 32% of Indian consumers have engaged with online beauty content. This implies that, as consumers are more
exposed to a wide array of creative and unconventional beauty trends, they are adopting a more zestful approach to beauty. It suggests that consumers are approaching their daily beauty routines with increased enthusiasm and expertise, whether it’s a bold colour eye shadow palette or a hair serum that accentuates natural curls.
Beauty as a lifestyle More consumers not only express creativity through their appearance but also in their daily beauty routines. These beauty enthusiasts consider beauty a way of life rather than a task. They value products that provide instant results, making them look stylish and radiant. They are constantly seeking trending solutions that help them stand out on a night out, in the office, or on social media. For example, beauty products that offer quick results, like a lipstick that instantly plumps and adds a vibrant pop of red or an easily applicable eyeliner. Personal care manufacturers in Asia are
also expanding their product lines to cater to a broader range of skin types, tones, hair textures, and individual needs. This shift signifies a celebration of diversity and different styles and acknowledges that unique individual qualities can add character and charm.
The move towards embracing diversity
has given consumers more choices to try on different products that best suit their unique demands, preferences, and even moods. As grooming trends evolve, men have also increasingly embraced personal grooming. From 2017 to 2022, Indonesia experienced
a 71% increase in retail value sales in the men’s grooming segment, the highest growth of all APAC markets.3
In Korea, we see the prevalence
of ‘genderless’ or ‘gender-neutral’ beauty. This concept seeks to cater to an individual’s
taste without adhering to traditional notions of masculine and feminine aesthetics. While there are more gender-neutral options in the market, there is also growing acceptance among Korean men to use products targeted toward women.4
Informed beauty choices Today’s consumers are more resourceful than ever, seeking product information before purchasing. This group of consumers thoroughly knows their skin requirements and the role of different ingredients in skincare. They are eager to explore innovative
products that can safeguard the quality of their skin and protect it from harmful external factors. They also actively seek skincare solutions that align with their values and provide a comprehensive approach to make them feel good and self-assured without needing perfection.
www.personalcaremagazine.com
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