Asia Pacific Cosmetics Market Is Expected A 4.02% Compound Annual Growth Rate During 2015–2020
The Asia-Pacific Cosmetics Market Report by Allied Market Research forecasts that the market is expected to garner $126.8 billion by 2020, estimated a CAGR (Compound Annual Growth Rate) of 4.02% during 2015–2020. Japan is the highest revenue-generating region in the Asia Pacific cosmetics market and accounts for the second-largest market in the global cosmetics industry.
The growth in the use of products, such as body moisturizing lotions, sunscreen lotions & creams, facial wipes, face wash, hair styling gels, and makeup products for men and women fuel the growth of the Asia-Pacific cosmetics market. The increase in consciousness regarding personal appearance among individuals and rising disposable incomes drive industry growth. In addition, demand for natural and organic cosmetic products supplement market growth.
The market is segmented based on category, mode of sale, gender, and country. The category segment comprises of skin & sun care products, hair care products, deodorants, makeup & color cosmetics, and fragrances. Skin & sun care, and hair care products are the most widely used products and hold a considerable percentage share in the cosmetic products category. The mode of sale segment comprises retail and online sales. At present, along with women, men are also using cosmetics in their daily lives for grooming and enhancing their looks. Geographically, the Asia-Pacific cosmetics industry is segmented into Japan, China, India, South Korea, Singapore, Thailand, and Rest of Asia-Pacific.
The key players profiled in this report are L’Oréal Group, Avon Products Incorporation, Proctor & Gamble Corporation, Unilever, Oriflame Cosmetics, Revlon Incorporation, Kao Corporation, Estée Lauder Companies Incorporation, Biotique, and Shiseido Company Limited.