Naturally, South Korea stands in the foreground as one of the region’s most innovative cosmetics markets, gaining global attention and pushing the boundaries with its revolutionary beauty products such as snail skin facials. South Korea also incorporates the growing needs and wants of the consumer into its products, combining SPF in skin moisturizers, and adding elasticity boosters into skincare products. The so-called K-beauty is recognized globally, with consumers throughout the world citing positive effects and good quality of products as the main positive aspects of the beauty trend. South Korea’s globally beloved cosmetics conglomerate Amorepacific also highlights the country as one of Asia Pacific’s strongest beauty markets, as the company recorded record-breaking revenues. However, Japan has also cemented its position within the Asian cosmetics industry, being home to internationally-renown Shiseido. The cosmetics company demonstrated continuously increasing net sales throughout the Asia Pacific region. Shiseido has appealed to consumers through the use of natural ingredients such as honey, carrot, and tofu in its products. Nevertheless, newer beauty markets have started to emerge throughout the Asia Pacific region. The introduction of halal products has caused the cosmetics industry to grow in countries such as Indonesia and Malaysia.
The region’s digital revolution has also aided the surge in beauty product consumption, as consumers are purchasing more goods online. A significant amount of Southeast Asian consumers purchased beauty products online in 2018. Increased social media penetration throughout the region has too impacted the cosmetics industry, as consumers are more likely to purchase products that have been endorsed and reviewed by social media influencers. Asian consumers are known to thoroughly research products before buying, however, they are also open to purchasing products that they have not previously tried. Thus, stimulating the growth of the cosmetics market further. If the Asia Pacific cosmetics industry continues to grow at a progressive rate while producing innovative products, the region will likely continue to keep hold of its leading position within the global cosmetics industry throughout the years to come.