Beauty and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The rapidly changing lifestyles and improper diets, including sugar-rich diets and the increased consumption of alcohol and tobacco, made oral health one of the major public health problems in almost every part of the world. For instance: According to the World Health Organization, oral diseases pose a major issue for many countries and affect people throughout their lifetime, causing pain, discomfort, disfigurement, and even death. The Global Burden of Disease Study 2017 estimated that oral diseases affect close to 3.5 billion people, worldwide, with caries of permanent teeth being the most common condition. Moreover, with the increased expenditure on oral healthcare, consumers across the world started taking preventive measure, which increased the demand for effective oral care products. For instance: According to the US National Library of Medicine’s National Institutes of Health, the spending for dental care increased from approximately USD 2 billion in 1960 to USD 117.5 billion in 2015. Thus, consumers across the world pay immense attention to maintaining their oral health, which led to an increase in the demand for oral care products worldwide. Some of the factors that influence the choice from the customers’ point of view are the perceived performance, brand awareness, product attributes, the credibility of the company, and availability of product information.

In the Asia Pacific region, countries- like China, India, and Vietnam present considerable growth opportunities for the market players, primarily due to the growing millennial population. Amid the growing prevalence of hair thinning, loss of volume, dryness, and several other hair-related concerns among the consumers, hair care products are emerging as the most affluent and cost-effective way. Hindustan Unilever retained its market leadership, aided by the strong performance of its flagship brands, such as Dove and Sunsilk, while Patanjali Ayurved recorded the fastest growth rate in terms of sales in 2019. Furthermore, high awareness regarding cosmetics products, such as facial make up and hair styling and coloring products, is expected to drive the market’s growth in the near future. The demand for multifunctional products is driving innovation, as price-conscious consumers are opting for products that provide both hydration and skin protection. Companies are constantly advertising about cosmetics that provide medicinal benefits, especially on social networking sites, such as Facebook, Twitter, YouTube, and Instagram, where beauty bloggers are very popular. Some of the major key players in the beauty and personal care products market in Asia- Pacific are Avon Products, Inc., Beiersdorf AG, L'Oreal Group, Procter & Gamble, The Estée Lauder Companies Inc., and Unilever, among others.