Over the last few years, the APAC cosmetics market has witnessed significant change. Not least due to increased reliance on social media platforms and a soaring following of beauty influencers, that are moving the dial when it comes to the latest trends.
Research from Mordor Intelligence suggests that location plays a pivotal role in APAC cosmetic sales, with consumers in urban areas spending three times as much on haircare and skincare products compared to those in rural areas. However, the data also showed that the growing influence of media in rural areas has been significantly impacting sales, particularly in the haircare sector.
When it comes to skincare, an increasingly elderly population and consumer awareness continue to fuel the growth of anti-ageing products. Meanwhile, newer trends such as ‘skinimalism’ and hybrid cosmetics continue to rise in popularity, as Asian consumers seek a streamlined cosmetic experience. Whereas in haircare and suncare, environmental conditions and rising temperatures are hiking product sales in these areas, and rapidly piquing interest in ethical ingredients and formulations.
Unpacking the biggest topics, innovations, and challenges across skincare, haircare, suncare, and sustainable beauty, in-cosmetics Asia is returning 7-9 November 2023 will present a comprehensive agenda for brands to get ahead of the curve.
A sustainable future
Over the past few years, growing consumer awareness and purchasing power in Asia have created a powerful shift towards sustainable products and practices. According to research from Euromonitor International, 75% of survey respondents in the beauty and personal care space were planning on developing products with vegan, vegetarian and plant-based claims in 2022.
However, the demand for ethical cosmetics isn’t just shaping new products and services but also the way brands operate and communicate with their customers. Euromonitor has recommended that cosmetic brands focus on consumer education and transparency to effectively communicate with customers and encourage brand loyalty.
An education in skincare
Valued at USD$76.82 billion in 2021, the APAC skincare market is expected to see significant growth over the next five years. This is partly due to the rising prevalence of skincare disorders and aesthetic consciousness among Asian consumers. However, there are certain challenges which need to be overcome to maintain this trajectory. These include adhering to government regulations, consumer demand for sustainable packaging, as well as ethical, cruelty-free products and formulations.
This year’s education programme at in-cosmetics Asia will highlight some of the key developments in the APAC skincare market, and how brands are taking on prominent industry challenges. Run by Asia Cosme Lab and being held in the Marketing Trends and Regulations Theatre, a session on Skintone Management will deep dive into the evolution of the market, where inclusivity is being increasingly championed, while also promoting an ideal skin tone and complexion.
Innovation in Suncare
In 2023, revenue in the APAC sun protection market hit USD$3.9 billion, with projections that the market will grow by 5.9% CAGR over the next five years. In fact, with a variety of environmental and societal factors driving this increase, the region is now the global leader.
Sarah Gibson, Event Director for in-cosmetics Asia, commented: “Asia Pacific is the number one beauty market globally, and as a result, the eyes of the world are focused on the region and the innovation being generated there. The in-cosmetics Asia Education Programme will shine a light on this rapidly evolving market, focusing on the key trends, challenges and developments.
“Through a combination of technical seminars, product and ingredient showcases, and marketing trends sessions, the in-cosmetics Asia education programme will highlight the biggest innovations in sustainable and ethical beauty today. With pre-show visitor registration currently at a record high, there is confirmed demand for better understanding and education in the industry – which in-cosmetics Asia is here to provide.”
Post time: Oct-25-2023