According to “Facial Care Market – Asia-Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”, a recent report published by U.S.-based Transparency Market Research, the market for facial care in Asia Pacific is anticipated to reach US$ 39.75 billion by the end of 2019, registering growth at an impressive CAGR of 6.9%. The huge population in China has made it the largest market for facial care products in the Asia Pacific Region. The report presents an in-depth analysis of the Asia Pacific facial care market in terms of estimating the market size, analyzing the growth drivers and restraints, and forecasting the growth prospects of facial care market in Asia Pacific.
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The report has segmented the Asia Pacific facial care market into various categories, which were further broken down into subcategories to provide a detailed and well-researched analysis of the market. According to the report, the availability of multi-functional products has given a significant boost to the demand for facial care products in the Asia Pacific region. The strong chain of distribution network coupled with the growing demand for skin care and fairness products, especially among women, has attributed to the exponential growth of the facial care market in Asia Pacific. The increasing usage of advertising by manufacturers together with changing lifestyle trends among consumers has also significantly contributed to the growth of the facial market in the Asia Pacific region.
Leading players in the facial care market such as Hindustan Unilever, Procter and Gamble, and L’Oreal Inc., are adopting various strategies to create a powerful sales network across the region. These companies are increasingly focusing on implementing strategies and executing plans that would allow them to capitalize on growing opportunities in emerging markets in Asia Pacific such as India, China, South Korea, and Japan. High demand for men’s grooming products and the growing trend of online retailing have opened new avenues for manufacturers in the facial care market to capitalize on.
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According to the report, the skin lightening and whitening and anti-ageing creams registered maximum demand in the Asia Pacific facial care market in 2012. This product segment dominated the market, with a 35.7% share in terms of revenue. The segment was closely followed by products such as face wash, facial creams, and other similar categories. The demand for this category of products has grown significantly over the last couple of years.
The demand for facial care products is expected to grow fastest in men’s segment due to the introduction of a wide range of men’s grooming products in the market along with their changing attitude towards facial care products. An industry insider stated, “The shift in consumer behavior among men in favor of including facial care and personal products in their grooming regime has initiated the evolution of men’s facial care product in recent years.” All these factors, along with a strong network of distribution across the region will help the market for facial care products to grow exponentially in Asia-Pacific.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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