Market Insights Consumer Beauty & Personal Care

Cosmetics - Asia

Asia

In 2024, the revenue in the Cosmetics market in Asia is projected to reach a staggering US$44.70bn.
This market is expected to experience a steady annual growth rate of 4.59%, calculated as the Compound Annual Growth Rate (CAGR) from 2024 to 2028.
When compared on a global scale, in the United States emerges as the leading revenue generator, with an estimated revenue of US$20,130m in 2024.
In terms of per capita figures, the Cosmetics market in Asia is anticipated to generate a revenue of US$9.84 per person in 2024.
Furthermore, by 2024, approximately 72% of the sales in the Cosmetics market will be attributed to Non-Luxury.
Japan's cosmetics market is dominated by high-quality skincare products and innovative technology, catering to the country's beauty-obsessed culture.

Key regions: Singapore, Indonesia, Canada, United Kingdom, United Arab Emirates

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.