Facial Care Market in Asia Pacific to Register 6.90% CAGR from 2013 to 2019 thanks to Expanding Distribution Channels

The facial care market has been gaining traction in the last few years owing to the rising concern among the population regarding their appearance. As a result, the facial care market is projected to grow substantially in the next few years worldwide, especially in developing markets. According to a study by Transparency Market Research, the Asia Pacific market for facial care is projected to reach a value of US$39.7 bn by the end of 2019, registering a progressive 6.90% CAGR between 2013 and 2019.

In this blog, Transparency Market Research answers key questions concerning the growth prospects and opportunities in the facial care market in Asia Pacific.

What are the key factors propelling the growth of facial care market in Asia Pacific?

The Asia Pacific market for facial care is projected to grow substantially in the coming years, owing to the expanding horizon of distribution channels and network. In addition, the emerging product portfolio for men as well as women is expected to fuel the growth of the facial care market in Asia Pacific. Moreover, the rapid growth of this market can be attributed to the rising number of men and women who have incorporated the habit of facial care in their routine to maintain their youthful appearance. Furthermore, the increasing disposable income among the population is expected to contribute toward the growth of the facial care market.

What are the major steps taken by leading players to gain a competitive advantage in the facial care market?

The growing demand for facial care products in Asia Pacific has encouraged several players to expand their product portfolio in the last few years. The leading players operating in the market are spending an enormous amount on research and development in order to introduce new products to expand their consumer base. In addition, these players are focusing on advertising campaigns and marketing strategies to augment their sales figures in the next few years.

What are the current trends and opportunities in the facial care market in Asia Pacific?

The expanding product portfolio for men’s grooming products is one of the major trends in the Asia Pacific market for facial care. Moreover, the increasing popularity of multi-functional products and the growing demand for fairness products are some of the other factors projected to propel the facial care market in Asia-Pacific. The growing online retailing is also expected to contribute substantially towards the growth of the facial care market.

The major players are carrying out several trials to introduce drugs for severe facial inflammation. Recently, Medimetriks made an announcement regarding the successful trial of MM36, which is a major drug trial to cure Atopic Dermatitis.

Who are the leading players operating in the facial care market in Asia Pacific?

The presence of several players operating in the facial care market has intensified the competitive scenario in Asia Pacific. Some of the leading players in this region are Kose Corporation, Johnson and Johnson Limited, Hindustan Unilever, L’Oreal, Procter and Gamble, and Estee Lauder Companies Inc. The introduction of natural ingredients in facial care products is one of the key strategies of these players to create a niche for themselves in the regional as well as global market.

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