19 Dec 2019
Posted in Consumer
Major trends impacting evolving beauty landscape in APAC, according to GlobalData
With consumers exploring the latest beauty trends, the beauty and personal care industry in the Asia Pacific (APAC) region has become a trendsetter across various beauty categories.
Shagun Sachdeva, Consumer Insights Analyst at GlobalData, a leading data and analytics company, highlights some of the major innovative beauty trends in the APAC region.
Consumers in APAC are attracted more towards the concept of customization where they can alter their product according to their own skin type and daily lifestyle leveraging artificial intelligence (AI) and other connected devices. Hence, manufacturers are capitalizing on this trend and offering products according to the need of the individuals. For instance, Chinese technology company Meitu Inc launched Magic Mirror, which relies on AI algorithm to provide products based on customers’ facial features.
GlobalData’s 2018 Q4 consumer survey reveals that 56% of consumers in APAC find it very/somewhat appealing as they are able to produce their own beauty/grooming products using 3D printers at home.
Health & Wellness
Wellness and desire for holistic approach towards beauty among Asian consumers reflect a widespread cross-generational movement for healthy products. Consumers are seeking a simpler approach to beauty and looking for convenient ways to obtain a health boost and willing to pay a premium if they believe instant benefits can be attained. Against this backdrop, manufacturers are making efforts to offer products catering to the health-conscious, next generation consumers with unique formulations by incorporating hero ingredients.
Japan-based Shiseido launched a new skin care line-up to address multiple skin concerns, perfectly complimenting millennials and Gen Zs’ busy and active lifestyles.
GlobalData 2019 Q3 survey reveals that 69% of APAC consumers look for sustainability aspect in product packaging while 71% look for reusable and refillable product packaging.
Targeting silver segment
Strong growth in emerging markets in APAC has empowered older consumers to spend more on beauty products. With social pressure and personal desires to maintain youthful appearances, personal care products are gaining momentum among the old aged consumers.
GlobalData’s 2019 Q3 consumer survey reveals that 64% of consumers in APAC aged above 55 seek natural ingredients-based offerings while purchasing beauty/grooming products in the wake of green consumerism.
As a result, manufacturers are seeking to engage consumers with offerings that resolve aging and skin-specific issues such as dulling, wrinkles, and loosening of skin. Brands are also using innovative technology in their offerings that are no longer limited to usual skincare products. For instance, AIVITA Biomedical launched its own range of unique stem cell-powered anti-ageing skin care, known as Root of Skin, in Japan in 2019.
According to GlobalData Consumer Survey Global Q3 2019, 34% of consumers find products that are trending on social media (e.g. Instagram, Facebook) as an influential factor while shopping. In addition, 29% of consumers agree that social media platforms (e.g., Instagram and Facebook) have made them more self-conscious about their appearances.
Besides reshaping the beauty industry, social media is also bringing new opportunities and challenges along with it. Brands have realized that consumers get more connected to fresh brands or products that they visualize through advertisements, recommendation from expert bloggers and celebrity endorsements on social media. Therefore, brands are leveraging this powerful marketing tool to connect with consumers directly to build brand awareness.
For instance, Mongchin Yeoh is a Singapore-based beauty influencer who posts images /videos related to the updated products, detailing about the special formulation of the particular product and also hosts her own TV series based on her adventures around Southeast Asia.