Demand for makeup products in Asia Pacific is expected to increase due to rise in the number of working women and changing patterns in mens grooming. Makeup has now become an integral part of personal care. Higher number of people in Asia Pacific can afford makeup products due to improvement in standard of living and growth in disposable income. Furthermore, this growth has been supported by rapid expansion in fashion and film industries across Asia Pacific. Demand for organic or herbal makeup products is expected to bring about strategic changes in the offerings of large players in this market during the forecast period due to changing trends and preferences for organic products over synthetic products.
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The makeup market in Asia Pacific is likely to expand at a healthy CAGR over the next six years due to increased usage of makeup products in major markets such as India, China, Japan, Malaysia and Indonesia. China is anticipated to be the largest consumer of makeup products, followed by Japan, by 2019. Rapid growth in middle class population and changing lifestyles of consumers in China would are estimated to boost the consumption of makeup products in the country during the forecast period. India is the fastest growing market in Asia Pacific. It has become an important market for international brands due to its vast potential for growth. International companies such as L’Oréal S.A., Procter & Gamble Co., Coty Inc, Revlon Inc and Estée Lauder Companies, Inc. hold significant market shares in the makeup market in Asia Pacific. Widening distribution channels and developments in digital marketing would further boost the growth of these companies in the near future.
Makeup and cosmetic products are sold through a variety of channels. Distribution of products is another area of significant value addition. Companies with strong distribution networks tend to dominate the market and enjoy market leadership. Mass-market channels such as supermarkets/hypermarkets and online sales are among the most preferred destinations/channels for the sale of makeup products. Supermarkets and online shopping have become popular channels for purchase of goods due to improvement in the standard of living of people in Asia Pacific. Furthermore, “eRetailing” is projected be an upcoming trend in the distribution channel; however, supermarkets and hypermarkets are likely to dominate the distribution channel by 2019. The makeup market in Asia Pacific is expected to experience significant shift from synthetic makeup products to organic or herbal makeup products during the forecast period. Emerging markets such as India and China are anticipated to witness a significant increase in consumption of makeup products due to increased disposable income.
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This report has been segmented by types and countries. It includes drivers, restraints and opportunities (DROs) and value chain of the makeup market. The study highlights current market trends and provides forecast from 2013 to 2019. The market dynamics chapter in this report provides insights about the existing trends and future prospects in the industry. Additionally, value chain analysis helps understand the focus areas in the supply chain.