APAC Beauty and Personal Care Products Market Size

Asia Pacific Beauty Devices Market Analysis

The APAC Beauty and Personal Care Products Market size is estimated at USD 218.55 billion in 2024, and is expected to reach USD 302.82 billion by 2029, growing at a CAGR of 6.74% during the forecast period (2024-2029).

In Asia-Pacific, consumers have increased spending on personal hygiene, which has led to the escalated sales of shower gel, sanitizers, hand washes, etc. On the other hand, the e-commerce trend is boosting the sales of beauty and personal care products through online channels. Hence, players are turning their heads toward online channels. For instance, in 2021, Hindustan Unilever Ltd (HUL) announced its plans to scale up the online reach of the company's premium brands through standalone branded sites, as well as its multi-brand shopping platform UShop, wherein UShop (launched in the second half of 2020) is set to expand beyond the National Capital Region and Mumbai to eight more cities across the country.

Consumers across the region are inclined toward organic beauty and personal care products, especially those formulated using Ayurvedic, botanical, and herbal ingredients, which are expected to drive market growth during the study period. The rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the growth of the market. Moreover, the rising premiumization and the consumers' need for more targeted solutions are accelerating the growth of personalized/customized beauty and personal care products. Furthermore, major players are intensely embarking on product innovation and mergers and acquisitions as their prime strategy to consolidate the market studied. For instance, in 2021, Kao Corporation, through its subsidiary Kao Salon Japan, launched its prestige hair salon brand, Oribe, in Japan. The brand consists of 23 product line-ups that were made widely available in Japan.