Asia Pacific Makeup Market is Expected to Reach USD 22.31 Billion by 2019
Albany, New York, USA (PRWEB) September 11, 2014
Transparency Market Research has published a new market report titled “Makeup Market Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019.” According to the report, the makeup market in Asia Pacific was valued at USD 14.76 billion in 2013 and is anticipated to reach USD 22.31 billion in 2019, expanding at a CAGR of 7.1% from 2013 to 2019. Japan was one of the lucrative markets for makeup products until 2013 due to higher standard of living and rising preference for these products by working women. However, China is estimated to become the most lucrative market for makeup products by 2019 due to rapid increase in the number of working women and rising disposable income of the people in the country.
Browse the full Asia Pacific Makeup Market Report at http://www.transparencymarketresearch.com/makeup-market.html
Rapid changes in the lifestyle of people in major markets such as India and China are projected to boost the makeup market in Asia Pacific. Around 60% consumers in Asia Pacific belong to the age group of 15 to 54. This makes Asia Pacific a region with the highest potential for consumption of makeup products in the world. Furthermore, growth in retail channels and innovative marketing strategies by small and large market players would significantly influence the consumption of makeup products in the region over the next six years.
Emerging countries such as India, China and Malaysia are among the fastest growing markets for makeup products. The makeup market in these countries is anticipated to experience double-digit growth during the forecast period. The makeup market in these countries is estimated to witness a shift from synthetic chemical based products to natural makeup and beauty products. Increasing middle class population and developing distribution channels are projected to create demand for mass makeup products.
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Geographically (by country), India and China are likely to experience strong growth in the next six years, while Japan and Australia are expected to witness sluggish growth than other countries in Asia Pacific in terms of consumption of makeup products. In 2013, China accounted for the largest share of the makeup market in Asia Pacific, followed by Japan. China is anticipated to continue its dominance in the Asia Pacific market until 2019.
Private labels are expected to capture the attention of consumers in Asia Pacific due to their cost effectiveness vis-à-vis branded products. Major market players in Asia Pacific are L'Oréal S.A., Estée Lauder Companies, Inc.., Coty Inc., and Proctor & Gamble Co.
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The makeup market has been segmented as follows:
Asia Pacific Makeup Market by Type
Different types of makeup products covered under this research study are:
- Eye Makeup
- Face Makeup
- Lip Makeup
- Nail Makeup
Asia Pacific Makeup Market by Geography
Geographies covered under this research study are:
- New Zealand
- South Korea
- Rest of APAC
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