Portland, OR, April 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia-Pacific skin care products market generated $61.25 billion in 2020, and is projected to reach $105.66billion by 2030, registering a CAGR of 5.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Surge in female population across the globe, rise in the preference of female toward innovative beauty products, emergence of modern trades, increase in concerns about beauty and appearance among women, exponential growth in income level, and rise in demand for skin care products from working professionals across the globe is expected to drive the growth of the Asia-Pacific skin care products market. On the other hand, presence of animal origin in the skin care product ingredients is expected to curb the growth to some extent. However, rise in the popularity of energizing and anti-ageing skin care products is expected to create immense opportunities in the industry.
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COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the Asia-Pacific skin care products market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns led to the closure of salons and spas in the majority of countries. In addition, home seclusion and preventative health trends further aggravated the growth of the market.
- However, surge in inclination toward at-home beauty treatments will positively impact the growth of the market.
The report offers a detailed segmentation of the Asia-Pacific skin care products market based on product type, age group, demographic, distribution channel and region.
Based on product type, the face care segment generated the highest market share in 2020, garnering nearly half of the total market. The body care, on the other hand, is expected to cite the fastest CAGR of 6.3% during the forecast period.
Based on demographics, the female segment generated the majority share in 2020, contributing to nearly three-fifths of the total market. The male segment, on the other hand is expected to exhibit the fastest CAGR of 5.8% during the forecast period.
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Based on age group, generation x segment held the lion’s share in 2020, garnering nearly half of the total market. The generation z segment, on the other hand, is expected to cite the fastest CAGR of 6.41% during the forecast period.
The key players of the market analyzed in the Asia-Pacific skin care products market report include L'Oréal S.A., Beiersdorf AG, Procter & Gamble, Unilever, Johnson & Johnson, Inc., Avon Products, Inc.
Colgate-Palmolive Company, Revlon, Kao Corporation, SHISEIDO COMPANY.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
