Asia Pacific Colour Cosmetics Market Report and Forecast 2024-2032

Asia Pacific Colour Cosmetics Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Asia Pacific colour cosmetics market is projected to grow at a CAGR of 7.90% between 2024 and 2032 reaching a value of around USD 5.51 billion by 2032. Aided by the rising disposable income, evolving fashion trends, and growing e-commerce penetration, the market is expected to grow significantly by 2032.

Colour cosmetics, encompassing products like foundations, lipsticks, eyeliners, and blushes, have been entwined with beauty and self-expression for decades. These products, however, have been undergoing a transformation in the Asia Pacific, not just in terms of formula but also in their role in modern society.

The Asia Pacific, with its diverse cultures and large consumer base, has always been a significant player in the global beauty landscape. One of the key drivers in the Asia Pacific colour cosmetics market growth has been the K-beauty (Korean beauty) trend, which has propagated the significance of flawless skin, setting unprecedented standards and introducing innovative products to the cosmetics world.

Additionally, the millennials and Gen Z consumers in the region have displayed a marked inclination towards colour cosmetics. Their growing awareness and acceptance of self-expression through makeup, coupled with their substantial purchasing power, have given a significant boost to the Asia Pacific colour cosmetics market demand. Moreover, the increasing influence of social media, with platforms like Instagram, TikTok, and YouTube, has played a pivotal role in the endorsement and dissemination of beauty trends across the region.

E-commerce has also emerged as a vital channel for the distribution of colour cosmetics. The convenience of online shopping, coupled with the broad array of product choices and reviews, has made it an attractive option for consumers. Brands have recognised this shift and have been consistently enhancing their online presence, offering virtual try-ons and leveraging influencers to reach a wider audience.

The Asia Pacific region also showcases a rich tapestry of local traditions and customs. According to the Asia Pacific colour cosmetics market analysis, local brands, tapping into traditional beauty secrets, have found resonance among consumers looking for authentic and indigenous products. Ingredients such as turmeric in India, rice bran in Japan, or snail mucin in Korea, rooted in age-old beauty rituals, are being incorporated into modern colour cosmetic products, bridging the gap between tradition and innovation.

Market Segmentation

The market can be divided based on target market, application, distribution channels, and country.

Market Breakup by Target Market

• Mass Product
• Prestige Product

Market Breakup by Application

• Facial Make-up
• Liquid Foundation
• Cushion Foundation
• Blush
• Concealer
• Compact
• Highlighter
• Primer with face
• Contour
• Others
• Lip-Product
• Liquid Lipstick
• Lip Glass
• Lip Liner
• Lip Tint
• Palette with lips
• Others
• Eye Make-up
• Eye-Product
• Eyeshadow
• Eyeliner
• Mascara within Eye
• Eyebrow Cream
• Others
• Nail Product
• Others

Market Breakup by Distribution Channels

• Hypermarkets and Supermarkets
• Speciality Stores
• Online
• Others

Market Breakup by Country

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Asia Pacific colour cosmetics market. Some of the major players explored in the report by Expert Market Research are as follows:

• Unilever plc
• L'Oréal Group
• Kao Corporation
• Procter & Gamble Company
• Estée Lauder Inc.
• Oriflame
• Shiseido Co. Ltd.
• Kosé Corporation
• Amorepacific Corporation
• Yatsen Holding Limited
• FSN E-Commerce Ventures Nykaa Ltd
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.