APAC Cosmetics Market Update 2022
The Asia Pacific cosmetics and toiletries industry is the second largest in the world and extremely important for the beauty and personal care sector.
In 2022, the skin care segment is expected to dominate the market with foot care in an especially good position to align with current wellness trends.
Many consumers agree that body care is relaxing. Indeed, applying body lotion or oil is in and of itself soothing and de-stressing and promotes well-being, leading consumers to increasingly adopt luxury skin care items and purchase more skin care products.
In 2022, the skin care segment is expected to dominate the market.
In Asia, the foot care market is in an especially good position to align with current wellness trends. This is because in Eastern herbal medicine, the feet are closely intertwined with health.
That said, foot care however remains a small segment, accounting for a steady 5% of total body, hand and footcare launches in APAC over the past five years.
Driving innovation over the past 12 months is greater consumer acknowledgement and understanding around the impact of lifestyle factors on skin health and the even bigger focus on wellness (physical and mental) during the COVID-19 crisis.