Getting market insight is always a top priority for any industry figure who wants to be in the loop on where beauty and personal care is heading, and why. The in-cosmetics events are always a fantastic opportunity to get this inside scoop from expert figures, with the latest event being no exception.
Speaking at the recent in-cosmetics Korea industry trade event, Joanna Chan, research analyst with Euromonitor International, revealed the top skin care demands from Asian consumers.
In a talk brimming with industry insight, the market expert outlined the four key trends set to dominate skin care in Asia during the upcoming period, and explained that younger consumers are having a particularly weighty impact on the direction of the category.
The four skin care trends highlighted were:
- Customisation: the growing consumer demand for personalised skin care products, particularly being played out in the rise of multicultural beauty.
- Well-being: the increasing convergence of beauty and health being seen in rising consumer demand for products that taylor to an active lifestyle and feature natural ingredients.
- Digital: the dominance of digital marketing and retailing, and the power of technological innovation within skin care.
- Ethical: the consumer demand for products and brands that display environmental sustainability, and the particularly big role being played by ethical labels.
Chan observed the central role currently being played by Asia Pacific in skin care growth, noting that the region contributed to 50% of 2015’s skincare value size of USD 110 billion thanks to the enormous potential of its emerging markets: Indonesia, for example, is tipped to enjoy a growth rate of 10% in the coming years.
Eyes on the trends
Helpfully, the beauty analyst’s presentation on the ‘Skin Care Outlook for the Asia Pacific Region’ went deep into these four specific rising consumer demands, with suggestions for how to meet them and market-leading product and brand examples.
As a leading publication for the industry in Asia, Cosmetics Design is always on the hunt for top quality insights to guide and inform our stories and our readers. With Korea a particularly exciting market driving fast innovation for the industry, the in-cosmetics Korea event was well appointed to deliver the latest and upcoming trends and insights to our team.
We’re looking forward to the in-cosmetics Asia event in November – get in touch if you’d like to meet us and let us know your company’s latest news developments.
Register to visit in-cosmetics Asia from 8-10 November in Bangkok for all the latest insights into the Asian cosmetics market.
Lucy Whitehouse is the Editor of cosmetics industry news website Cosmetics Design Europe.