Wednesday, 11 May 2016
Asia’s Cosmetics Market Players Spoil Buyer with Choices
In a bid to lure both males and female customers big brands are exploring new regions and innovations.
Leading cosmetic brands are working towards capturing growth in the Asia – Pacific region. Players such as Proctor & Gamble, Biotique and Oriflame Cosmetics among others have already expanded their business there. Research analysts weighing up on the growth rate, opportunities and share and size in the cosmetics market revealed that manufacturers will continue to chase profitability via product launches and market entry in countries such as India, Korea, China and Japan. Men today play a significant part when it comes to keeping the future of the sun care and skin care cosmetics line, robust. On the other hand, women are seen dominating the sales of color cosmetics and sun care sales across different nations in the region.
Korea’s cosmetics export market is expanding fast owing to the popularity of its pop culture worldwide. As per country’s customs service, nation’s cosmetics export was valued at $2.5 billion in 2015. The estimation was approximately 53.1 percent higher compared to previous year. Furthermore, the export status has also been rising steeply, marking about a 350 percent growth from 2011 when it was valued at $698 million. 2016 is no exception, where the first quarter shipment records have been favourable.
Cosmetics brands in Japan are planning on doubling sales by making their presence felt in other Asian countries. One such brand is Kanebo Cosmetics based in Japan. Company is now aiming at boosting its makeup brand Kate in countries such as Singapore, Thailand and Malaysia, while improving their merchandising in China. A unit of Kao located in Tokyo intends to sell about 40 billion yen of Kate line in 2020. Industry watchers of the cosmetics market reveal that the figure is approximately twice compared to the value in 2014.
Sources unveils that Kanebo is busy seeking stores for its cosmetics line at centrally based drugstores in popular cities including Guangzhou as well as Nanjing. The enterprise is also getting ready to launch Kate exclusively for e-commerce industry in China. Officials at Kanebo had earlier confirmed that their skin care line called Aqua Sprina and Freeplus are popular in China. Thus such companies are looking forward to doubling the count of outlets that provides advice on applying the new line across different locations.
Many manufacturers in Asia are focusing on producing natural bio-chemicals that are completely petroleum –free. Recently, Ardra Bio revolutionized the sector by inventing such chemical for cosmetics, pharmaceutical market and more. Dr. Pratish Gawand revealed that the company is now working towards its first substance called butylenes glycol.
Monitoring developments “Allied Market Research” has recently unveiled a study titled “Asia-Pacific Cosmetics Market - Opportunities and Forecasts, 2014 - 2020”. The research offers hard to find data on business performance across different countries.