Market Trends of Asia Pacific Beauty Fridges Industry
Rise In Consumption Of Beauty And Cosmetics Products
- Revenue from the skincare market in Asia has observed a continuous rise over the years, with the skin care face segment occupying the largest share of market revenue. Skincare products are required to reduce the cumulative effect of the damage made by the Sun's UV rays, which take away one's youth in Asia.
- Facial wash, sunscreen, toner, and moisturizer are among the beauty products in the region that have the largest demand for being protected from ultraviolet (UV) rays and preserving bright and glowing skin. These trends are automatically creating a positive externality for the sales of Beauty fridges.
- Per Capita expenditure on makeup in Asia Pacific had increased from a level of USD 1.5 before COVID to a level of USD 2.5, signifying a market with increasing use of beauty products. Post covid, as social gatherings and out-of-home activities revived, it worked as a catalyst for the demand for beauty fridges as well.
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Rise In Beauty Saloon Raising Demand For Beauty Fridge
- Asia-Pacific region is observing an increase in the number of saloons, with the market revenue of beauty businesses in countries such as India observing a continuous increase, rising to USD 564 million last year.
- Lakme Lever, part of Hindustan Unilever Limited (HUL), which runs Lakme Salons and Dermalogica India last year, planned to add two salons per week in the coming few years to expand its business. This rising business of saloons in the region is expanding market opportunity for the Beauty Fridge Market.
- Jawed Habib, Lakme Salon, Marie Claire Saloon, and Natural Saloon, among others, have emerged as growing salon franchises in the region with a continuous expansion in their stores, creating additional demand for beauty fridges. The number of beauty salons in Japan has observed a steep growth over the years with expanding hair care, beauty care, nail care, and personal care segments.
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