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Data Tracker: The changing face of the beauty market

Globally, 60% of skincare product launches have a botanical/herbal positioning



Two reports point to significant changes in the market for beauty products, globally and in Asia.

According to Euromonitor’s research, there is a shift towards premiumisation as consumers are becoming more selective about what goes into the making of their beauty products. And a report by global market research firm Mintel looks at Asian consumers and brand behaviour. •Premium beauty and personal care outperformed the mass segment in 2017, for the second consecutive year, growing at nearly 6% •China and the US are expected to contribute just over half of the $20 billion in premium beauty and personal care absolute growth by 2021 BIG TRENDS IN ASIA-PACIFIC •More demand for de-stressing products Consumers are looking for a quick and easy way to escape and re-energise whenever and wherever they can, 30% of Indian respondents are motivated by feeling less stressed out when they make their purchases •Fitness is a part of the beauty regimen Beauty brands are formulating products that help further customers’ desire for health and fitness, 59% of Chinese facial skincare users say they are prepared to do more exercise to improve their skin •Focus on local, natural products Brands are using basic or familiar ingredients and traditional or classic formats. 30% of Australian respondents say they are prepared to pay a premium for locally made or grown products ASIAN MALE BEAUTY MARKET GROWING •Men’s facial hair care booming in India The ‘hipster’ beard is no longer considered a casual look and the trend for men’s facial hair care is becoming more mainstream, products for caring for moustaches and beards are also becoming more sophisticated •In S Korea, the influence of K-pop is raising male interest in beauty products POPULAR FEATURES AND INGREDIENTS •Anti-ageing is trending up Anti-ageing claims in new products in Asia has steadily increased, growing from 8% in 2013 to 11% by 2016 •Consumers want sun protection In Asia, new product development with UV Protection has Japan leading the way at 34%, followed by South Korea at 16%, China at 9% and Thailand and India at 8% each for the period 2012-2016 •Herbal/botanicals are popular Globally, 60% of skincare product launches have a botanical/herbal positioning •Beauty devices getting more sophisticated The combination of diagnostics, monitoring and treatments offers the most sustainable future for beauty devices, mirroring the trend for personalised, responsive beauty products Source: Asia-Pacific: The beauty landscape, Mintel & Niche Segment Rewriting the Rules in the Beauty Industry: Part II, Euromonitor

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First Published: Mon, November 06 2017. 13:21 IST
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