Market intelligence agency Mintel has announced the launch of the 2019 edition of The Beauty and Personal Care Landscape: Asia Pacific. Uncovering consumer behavior across Asia Pacific’s beauty and personal care industry, this collection of analyst-driven insights highlights how Mintel’s trend predictions have shaped the region’s beauty marketplace.
“Asia’s beauty and personal care industry has become an innovation center of equal calibre to its global counterparts and Western markets are now looking East for inspiration,” says Angelia Teo, research manager, Mintel beauty & personal care, Asia Pacific. “In this thought piece, our beauty experts in Asia shine a spotlight on the shifting trends that are affecting consumer behavior. Among them, how the region’s aging population is impacting the beauty industry and the new waves of disruption rippling across the anti-ageing market. We also discuss how, given the rise of individualism, one-person households will dominate in the near future—in turn creating opportunities for innovation in beauty.”
More details on trends from the report include:
Ageing with grace in Asia: The evolution of anti-ageing beauty
“The beauty industry in Asia holds boundless opportunities to cater to consumers, young and old, looking to prevent or tackle the issue of ageing. Consumers are starting their anti-ageing beauty regimes as young as in their 20s, in hopes of prolonging their youth and delaying the signs of ageing. For example, 32% of Chinese female beauty consumers aged 25-29 are interested in base make-up products with anti-ageing claims. And while the rest of Asia is interested in skin ageing, Indian consumers, on the other hand, are far more concerned about their hair ageing with 21% of Indian consumers aged 18+ using hair color to cover greys. Looking ahead, in catering to the issue of ageing, beauty companies will no longer be limited to topical skincare products.”
Single wave hits the beauty industry: Catering to the modern single consumer
“The global economy is recognizing the rise of the single consumer and the spending power they possess—and this includes the beauty industry. These consumers are single by choice and are happy to undertake activities alone; in Asia, this is a consumption trend that is a significant shift away from the region’s traditionally group-oriented society. In beauty, deeper implications will stem from this emerging lifestyle and mindset, giving rise to a more confident, self-driven beauty consumer. Beauty will become a means of self-satisfaction, shifting into a phase of self-actualization, especially for single consumers who want to be seen as rising above social norms and pressure. In fact, 75% of single urban Indonesian consumers aim to take better care of their appearance (eg clothes, personal grooming). It is imperative that beauty companies, brands, and manufacturers take this into consideration when serving the solo-consumer.”
The report is available for free download here.