Published By : 17 Jun 2016 | Published By : QYRESEARCH
The facial care market has been exhibiting double-digit growth over the last couple of years. The increasing consciousness about looks and beauty is the primary reason driving the Asia Pacific facial care market, especially in emerging nations.
The Asia Pacific facial care market is expected to display significant growth in the coming years, owing to the expansion of distribution channels for retail sales. In addition, the increasing product portfolio for men and women facial care products will fuel the market’s growth. In addition, rising number of men and women who have included facial care as a part of their routine to maintain a youthful appearance is fueling the market’s growth. Furthermore, rising disposable income that allows individuals to spend more on personal care is contributing towards growth of this market.
The growth prospects of the Asia Pacific facial care market has encouraged several players to introduce newer products. To cater to this, top players in this market are investing heavily on research and development to expand their product portfolio and serve a wider consumer base. In addition, product manufacturers are focusing on marketing campaigns to reach a wider audience and augment sales in the next few years.
The expanding portfolio of men’s grooming products is one of the key trends that has come to the fore in the Asia Pacific facial care market. In addition, the rising popularity of multi-functional products and the rising demand for fairness products are providing immense opportunities for the market’s growth. The online retail of these products is also contributing towards the market’s growth.
The leading players in this market are carrying out several clinical trials for the development of drugs for facial inflammation. In a recent industry development, Medimetriks announced the successful trial of MM36, which is an important drug trial to cure Atopic Dermatitis.
The Asia Pacific facial care market is highly fragmented due to the presence of a large number of players. Some key vendors in this market are Kose Corporation, Hindustan Unilever, Procter and Gamble, Johnson and Johnson, L’Oreal, and Estee Lauder Companies Inc. Introduction of facial care products based on natural ingredients is the focus of product manufacturers to create a niche in the global and regional market.