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Beauty Companies in Asia Pacific

Source:By happi     Date:2013-11-13
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The Asia Pacific region is the biggest market for beauty and personal care sales in the world in 2012 with sales of $122 billion, followed by Western Europe, according to Euromonitor International. The top five countries for beauty sales in the region are Japan, China, South Korea, India, and Thailand.

Speaking at the HBA Global Expo in New York, Euromonitor’s Virginia Lee shared insights on the Asia Pacific beauty and personal care (BPC) market.

Leader Japan saw its beauty sales decline by 5% from 2007-2012 to reach $47.3 billion. India’s beauty market grew by 110% during the same time period but from a very small base to reach $8.9 billion.

China, the second biggest market, drove growth in the region with 68% to $32 billion in 2012. More women with paid jobs living in cities and a growing 50+ population translate into strong demand for beauty products.

As China’s economy and its middle-class have expanded, so has urbanization. In 2012, 51% of China’s 1.3 billion residents lived in cities, up from 26% in 1990. The country also has one of the older populations, with 30% in the 50+ group in 2012 and projected to grow to 40% of the country by 2020. Skin care in China benefited from these trends and grew by 88% from 2007-2012 to reach $12.8 billion.

In South Korea, demographics and pop culture are boosting sales of men’s skin care. Due to cultural factors favoring boys over girls, the male-female ratio for the 20-29 age group was 53% men and 47% women in 2012. As there are more single men than single women in this prime dating age group, men’s skin care products have exploded in this market.

Local male celebrities have embraced endorsement of skin care brands which has helped drive the trend of male grooming in South Korea. Celebrity endorsements have reinforced the message that it is acceptable for men to use skin care products and even cosmetics.

These factors led to sales of men’s skin care products to grow by 126% from 2007-2012 to reach $565 million in South Korea.

Demand for skin care was strong throughout Asia. Sales of skin care, Asia’s largest beauty category, grew by 27% from 2007-2012 to reach $45 billion. Anti-agers drove skin care sales, growing by 61% to reach $9.1 billion. Facial moisturizers, the biggest skin care category in Asia Pacific, grew by 22% in 2012 to reach $15.6 billion.

Here we take a look at those top players based in Asia Pacific.

 

Kao Japan

www.kao.com

Sales: $8.5 billion

 

Major Products: Beauty Care—Sofina, Kanebo, Molton Brown, Bioré, Jergens, Asience, John Frieda, Goldwell; Fabric and Home Care—Attack, Haiter, Magiclean; Human Health Care—Pyoura and Clear Clean oral care, Bub bath additives.

New Products: Attack Powder refills, Flair fabric softener, Jergens Natural Glow sunless tanner, Goldwell Nectaya hair color.

Comments: Sales don’t jibe with last year’s results because Kao changed its fiscal year, reporting results in Japan for the nine months from April 1 to December 31, 2012 and results outside Japan for the 12 months ended DecBlack Friday 19

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