Asia Pacific Makeup Market To Grow Owing To Impactful Promotion And Progress Of Distribution Networks
The Asia Pacific makeup market is one of the most assorted and active markets in the cosmetics industry throughout the world and is projected to grow at a CAGR of 7.1% between 2013 and 2019. The makeup market in Asia Pacific is assessed to be worth US$22.31 billion by 2019. The world-wide market was at an approximation of US$14.76 billion in 2013.
The evolution of female-driven commercials has transformed the way women see beauty. The necessity to present oneself in a certain style has generated a massive market for makeup and cosmetics across the globe. Nevertheless, the enormous population pool in Asia Pacific has ascertained to be a money-spinning ground for the development of makeup market in the past few years. The upswing in the number of working women and the rising number of men in exploration of cosmetics for improved grooming has provided the makeup market in Asia Pacific a noteworthy lift.
Makeup has turned out to be a vital part of personal care. Upgraded standard of living and augmentation in disposable earnings has further enhanced the growth of the regional market. Prompt development of the fashion and film industries in Asia Pacific has also funded towards the growth of the market. In the coming years, the call for organic or herbal makeup products is predicted to upturn owed to apprehensions over the adversarial side-effects of unsafe chemicals used in the synthetic makeup products. Quite a few big companies such as Estée Lauder Companies, Inc., Coty Inc, L’Oréal S.A., Procter & Gamble Co., and Revlon Inc. are at work en route for catering to the shifting needs of the buyers in the market.
The extension of the makeup market in Asia Pacific is also ascribed to increasing number of distribution networks. The growth of supermarkets, hypermarkets, online stores, and e-commerce has given the makeup market in Asia Pacific a fabulous lift. E-retailing has become a prevalent form of vending goods as it bids the expediency of buying goods at the expediency of the buyer.
Japan is the top profit making region in the Asia Pacific cosmetics market, and makes for the second largest market in the global cosmetics industry. An increase in the acceptance of cosmetic products among men is witnessed to be an increasing trend in countries such as India, China, and Japan. Currently, supermarkets and departmental stores are the number one sales networks for the cosmetics market in the region.
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