Beauty trends in Asia 2022 Report
Asian consumers are known for being agile and adaptable in the face of change. Never has this been more vividly demonstrated than in the last year. Like much of the world, the APAC region has been under the influence of two major forces.
First, heavy inflation, which has diminished shoppers’ spending power. Second is the era of post-pandemic recovery, in which people are establishing new behaviours and priorities.
For the beauty sector, consumers did not give up their interest in grooming and self-care during the pandemic, for example, small indulgences helped to keep them positive through tough times. In addition, price increases resulting from inflation are expected to be lower for health and beauty products.
These factors have helped the beauty sector to sustain its strength: value growth remained stable at -0.1% between Q2 2021 and Q2 2022, while second quarter revenue for global cosmetic manufacturers exceeded experts’ estimates.
Asian shoppers are enthusiastically developing new routines, trying new formats and ingredients, and investing in premium and luxury products. They are finding ways to keep buying their beauty favourites, selecting carefully where to cut and where to spend.
From mass players to luxury names, both local and international brands are responding by flexing and expanding their offers to deliver what Asian consumers want, while rolling out strategies to ensure their products remain affordable.
In this unique report, we take nine key markets across the APAC region – Mainland China, South Korea, Taiwan, Thailand, India, Indonesia, Malaysia, the Philippines, and Vietnam – looking at trends in the facial skincare, colour cosmetics, hair care and bodycare categories.
The macro trends influencing consumers – both economic and social – across Asia as a whole, and within the nine markets studied.
The diversity that exists in the region, with each market influenced to a different extent by the pressures of inflation and post-pandemic life.
How daily consumption of beauty categories has evolved – including the choices shoppers are making, what’s driving them, and the resulting shifts in category spend.
Why shoppers are trading up to premiumised offers, and the features and benefits they’re willing to pay more for.
Where growth is being driven from – and the categories and brands leading the way.
How manufacturers are innovating to respond to demands for personalisation, medical efficacy, sophistication and affordability – for instance by changing formats, promotions, communication and pricing.
In the report, we look at three key trends, through the lens of the specific markets in which they are particularly strong:
By providing key takeaways for each trend, we make our insights actionable and practical – helping you to apply them as a lever for growth in the APAC region. We sincerely hope that you find this report both fascinating and useful.
