According to a
recent market research report published by Transparency Market
Research, the Asia Pacific makeup market is estimated to expand
at a CAGR of 7.1% during the period between 2013 and 2019. The
report, titled “Asia
Pacific Makeup Market - Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2013 - 2019,” projects the makeup
market in Asia Pacific to be worth US$22.31 bn by 2019. The overall
market stood at a valuation of US$14.76 bn in 2013.
Rise in number of
working women and changing patterns in men’s grooming has propelled
the growth of the Asia Pacific makeup market. Makeup has become an
integral part of personal care. Improved standard of living and rise
in disposable income has further boosted the growth of the regional
market. Rapid expansion of the fashion and film industries in Asia
Pacific has also contributed towards the market’s growth. During
the forecast horizon, the demand for organic or herbal makeup
products is anticipated to increase owing to concerns over the
adverse side effects of harmful chemicals used in the synthetic
makeup products.
On the basis of
product type, the Asia Pacific makeup market has been segmented into
face makeup, eye makeup, nail makeup, and lip makeup. In 2013, the
face makeup segment accounted for the largest share in the market,
closely followed by the lip makeup segment.
The report studies
the Asia Pacific makeup market across eight countries: New Zealand,
Australia, China, Japan, Malaysia, India, South Korea, and Singapore.
The report anticipates China to emerge as the largest market for
makeup products in Asia Pacific by 2019. The rapid growth of the
Chinese makeup market can be attributed to the increasing pool of
middle-class citizens with disposable income. Japan is expected to
closely follow China in terms of consumption of makeup products.
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During the forecast
horizon, South Korea and Malaysia are expected to register
significant demand for makeup products owing to the changing consumer
preference for international brands. In New Zealand and Australia,
the makeup market is estimated to expand at a CAGR of less than 4.50%
during the forecast period. In India, the market is expected to grow
robustly at a CAGR of 15.2% during the period from 2013 to 2019.
Describing the
competitive landscape, the report profiles some of the key players in
the Asia Pacific makeup market such as L’Oréal S.A, Proctor &
Gamble Company, Revlon Inc., Unilever Plc., Coty Inc., and Estee
Lauder Inc. The market is highly fragmented due to the presence of a
large number of companies operating in the region. The report further
provides detailed information about the key players including their
product portfolio, business strategy, financial overview, and recent
developments. The key players are focusing on offering organic or
herbal makeup products due to the growing preference for organic
products over synthetic products.
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