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Cosmetics market in Singapore - statistics & facts

The beauty and personal care market in Singapore was estimated to earn revenues of more than one billion U.S. dollars in 2020. With the economy already showing signs of recovery from the COVID-19 pandemic, this market was predicted to grow again from 2021, as consumers regain the confidence to spend. Brands could expect consumers to be more adventurous and move away from the safety of tried and tested products. Beauty and personal care retail would also need to adapt to the changing landscape and incorporate the latest trends, such as live streaming, to better meet the needs of a digitally-savvy consumer base.

Trusted brands in the cosmetics and personal care market

The beauty and personal care market in Singapore has a large variety of brands to cater to the differing needs of its multi-cultural consumer base. Asian brands, especially Japanese and Korean ones, seem to be gaining in popularity among beauty consumers. Even so, cosmetics from western markets, in particular France and the United States, still make up the majority of such imports. While Asian brands might seem better suited to local needs, established western brands have the advantage of being global market leaders and would still appeal to the discerning Singaporean beauty consumer. With an average of between 50 to 200 Singapore dollars spent per shopping trip on skincare alone, the Singapore beauty consumer is not averse to paying for premium. Brands, therefore, need to distinguish themselves from the competition and stay informed of what is important to consumers to compete for the beauty dollars.

Changing consumer behavior due to the COVID-19 pandemic

The COVID-19 pandemic had a significant impact on Singaporean consumers’ spending on beauty and personal care products. The nation-wide lockdown resulted in a drastic reduction in social activities, as both work and leisure shifted to the home. Spending on consumer goods that were associated with a social setting, such as color cosmetics and make-up, were deprioritized during this period. Beauty spending instead shifted to skincare.

However, with the pandemic largely under control, the Singaporean government has started to ease restrictions. Retail outlets for beauty and personal care products, such as international beauty retail chain Sephora, are now open to shoppers, albeit with restrictions. Customers would not be able to test or sample the products by themselves before purchasing. For beauty and personal care product retailers, this would present a challenge in the future, as consumers might be reluctant to invest in such purchases before trying them on. This is where new e-commerce trends could bridge the gap. Livestreaming would allow a consumer to see a real-time review of the product, which is especially useful for color cosmetics. During the lockdown period, lipsticks were the second-most sold product through live streaming in Singapore, indicating the potential that this has for beauty and cosmetics retail.

Interesting statistics

In the following 6 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Cosmetics market in Singapore".

Cosmetics and personal care market in Singapore

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Key figures

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Trade and retail

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