Market Insights Consumer Beauty & Personal Care

Cosmetics - Eastern Asia

Eastern Asia

In 2024, the Eastern Asian Cosmetics market is projected to generate a revenue of US$26.59bn.
This market segment is anticipated to experience an annual growth rate of 5.18% (CAGR 2024-2028).
When compared to other countries globally, in the United States leads the pack with a revenue of US$20,130m in 2024.
in Eastern Asia, with its significant market size and potential, is expected to contribute significantly to the overall revenue in the Cosmetics market industry.
In terms of per capita revenue, each individual in Eastern Asia is estimated to generate US$16.27 in 2024.
This figure provides insight into the economic impact and purchasing power of the population in this region.
Furthermore, it is projected that 66% of the sales in the Cosmetics market by 2024 will be attributed to Non-Luxury.
This demonstrates the importance of this particular market segment within the overall industry.
In South Korea, skincare is not just a routine, it's a culture, with a focus on innovative products and a multi-step regimen.

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

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Methodology

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.