Innovative beauty concepts originating from Asian countries are capturing the imagination of consumers the world over. Prominent among them are K- beauty (Korean), C- beauty (Chinese), T- beauty (Thai), Ayurveda (Indian) and the latest one is J- beauty (Japanese) concept, which is revolutionizing the cosmetics industry not only in the Asia-Pacific (APAC) region but also across the globe as consumers prefer simpler, shorter and cleaner regimen, says GlobalData, a leading data and analytics company.
According to GlobalData research, Japan is one of the world’s largest cosmetics and toiletries markets, with an overall market size of US$35.2bn in 2018. It is projected to grow at a compound annual growth rate (CAGR) of 3.5% over the period 2018-23. The per capita consumption of cosmetics & toiletries in Japan stood at 27.7 units in 2018, which was higher than the global (18.9 units) and regional (11 units) levels.
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Rashmi Mahajan, Consumer Analyst at GlobalData, says: “Japan has the highest per capita expenditure in cosmetics when compared to other APAC countries. The per capita expenditure of cosmetics & toiletries in the country was US$280.4 in 2018, even higher than both the global (US$86.1) and regional (US$48.4) averages. The figures are specifically higher in haircare, make-up and male toiletries sectors when compared to other APAC countries.”
J-beauty is spreading beyond domestic market, and the country’s cosmetics exports are increasing. With a host of established indigenous brands such as Shiseido, Pola Orbis, Kosé (Decorte), Shu Uemura, SK-II, DHC, Sekkisei, Shiro, J-beauty products are carving out space in international retail aisles through partnerships with top offline and online retail chains. For instance, in 2019, Shiseido inked a co-production and distribution deal with A.S. Watson, one of the world’s largest health and beauty retailers, to meet the growing demand for J-beauty products across the Philippines, Indonesia, and China.
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J-beauty regimen follows a ‘less is more’ philosophy by using a relatively small number of products that have active ingredients intended to be few but effective. Additionally, multi-functionality feature of Japanese cosmetics appeals to busy consumers who wish to save time and efforts during busier weekday mornings. According to GlobalData’s 2018 Q3 global consumer survey, 63% of consumers worldwide say that ‘how well products align with their time and money constraints often or always’ influences their beauty and grooming buying choices.
Mahajan concludes: “Digitally connected and fashion-forward young consumers are embracing distinctive new products/specific regimens from different countries. Consumers across the globe have seen how K-beauty trends have become a success in the international market. The ‘made in Japan’ or so called ‘J-beauty’ products are benefitting from their perceived quality and are a big draw for discerning consumers, and brands can step up investments to increase their presence in the Asian and Western markets.”
