Myanmar Skin Care Products Market Report and Forecast 2023-2028

Myanmar Skin Care Products Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Myanmar skin care products market is projected to grow at a CAGR of 6.5% between 2023 and 2028. Aided by the increasing awareness of skin care products and rising disposable incomes, the market is expected to grow significantly by 2028.

Skin care products are essentials of daily personal care routines, used to maintain skin health, enhance appearance, and prevent various skin conditions. They comprise a wide array of products including moisturisers, cleansers, toners, serums, sunscreens, among others. Besides their conventional use for personal grooming, these products are also gaining prominence in therapeutic and medical treatments of skin diseases and conditions.

The growing consciousness about skin health among consumers in Myanmar is one of the significant drivers behind the Myanmar skin care products market expansion. As people increasingly recognise the importance of skin health in overall wellbeing, the demand for skin care products, particularly those with added benefits like anti-aging properties, UV protection, and hydration boost, is on the rise.

Furthermore, the surge in beauty and grooming trends, combined with the rising disposable incomes, has contributed to the increasing Myanmar skin care products market demand. The expanding middle-class population in Myanmar has been particularly instrumental in driving this trend, given their growing preference for quality and premium skin care products.

The proliferation of skin care products across diverse industries is also playing a vital role in the Myanmar skin care products market growth. Besides personal use, these products are now commonly used in beauty salons, spas, and therapeutic centres, as well as in the film and theatre industries. The hospitality industry, too, is increasingly using branded skin care products as part of their guest amenities.

Another pivotal factor aiding the Myanmar skin care products market development is the expanding presence of global and regional skin care brands in Myanmar, facilitated by the country's ongoing economic liberalisation. Many international skin care brands have penetrated the Myanmar market, offering a wide range of products and fostering a competitive market environment.

Finally, the growth of the e-commerce sector has further fuelled the Myanmar skin care products market. Online retail platforms have made it possible to access a wide variety of international and local brands, bridging the gap between consumers and manufacturers. This channel has also been instrumental in expanding the consumer base for skin care products to include a more diverse and widespread population.

Market Segmentation

The market can be divided based on type, demographic, age group, price, and distribution channel.

Market Breakup by Type

• Cream
• Lotions
• Others

Market Breakup by Demographic

• Male
• Female

Market Breakup by Age Group

• Generation X
• Millennial
• Generation Z

Market Breakup by Price

• Premium
• Economic

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Speciality Stores
• Departmental Stores
• Beauty Salons
• Pharma and Drug Stores
• Online
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Myanmar skin care products companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Shwe Pyi Nann
• L’Oréal S.A.
• Kao Corporation
• The Estée Lauder Companies Inc.
• The Procter and Gamble Company
• Shiseido Cosmetics
• Beiersdorf AG
• Amorepacific Group
• Nature Republic
• 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.