Asia Pacific Makeup Market Report and Forecast 2024-2032

Asia Pacific Makeup Market Outlook

The Asia Pacific makeup market size reached USD 14.51 billion in 2023. The market is expected to grow at a CAGR of 5.0% between 2024 and 2032, reaching almost USD 22.58 billion by 2032.

Key Takeaways:

• In India, the market for cruelty-free, vegetarian, and vegan cosmetics has experienced notable growth. The Indian Ministry of Health and Family Welfare has implemented a ban on cosmetic testing involving animals, reinforcing existing regulations under the Drugs and Cosmetics Rules with Rule 148-C. This regulation prohibits any person from using animals for cosmetic testing.

• As per industry reports, across the Asia Pacific region, there is a substantial rise in disposable income, reaching USD 8,187 in 2022. Noteworthy countries in the region with significant disposable income include Japan at USD 22,970, South Korea at USD 22,258, Australia and New Zealand at USD 32,814, China at USD 10,529, and India at USD 5,497, among others.

The Asia Pacific makeup market plays a vital role in both developed and developing economies, driven by accelerated urbanisation and evolving lifestyle demands. With urban populations expanding and disposable incomes rising, there's a notable surge in consumer spending on skincare and beauty products. Millennials, a significant demographic, are spearheading the beauty athleisure trend and are pivotal in driving cosmetic sales. Social media trends emphasising appearance contribute to market growth.

Cosmetics, crafted from artificial or natural sources, serve various purposes from hygiene to altering appearances, catering to both retail and professional needs. Recent market growth stems from an increased focus on hygiene and self-care, driven by consumer desires to combat stress and elevate personal appearance.

Digital technologies are reshaping consumer behaviour, allowing brands to connect and engage with customers more interactively. Innovations like personalised skincare and sustainability initiatives resonate with eco-conscious consumers, shaping industry trends towards greener practices and vegan alternatives. The embrace of vegan lifestyles has spurred demand for plant-based personal care products, driven by ethical considerations and increased awareness of animal cruelty issues within the cosmetics industry. This trend is prompting major cosmetic companies to shift towards mineral or plant-based ingredients, aligning with evolving consumer preferences playing an important role in the Asia Pacific makeup market development.

Market Segmentation

Asia Pacific Makeup Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Powders

• Gels 

• Lotions

• Others

Market Breakup by Application Area

• Face

• Lips

• Eyes

• Nails

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Specialty Stores

• Online

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Competitive Landscape

To obtain a competitive advantage in the industry, companies are concentrating on growing their product lines and implementing fresh marketing techniques.

• L’Oréal S.A.

• Shiseido Co. Ltd.

• Estee Lauder Companies Inc.

• Natura &Co (Avon Products, Inc.)

• Chanel Limited

• Revlon, Inc.

• Kao Corporation

• Groupe Clarins

• Coty Inc.

• HB USA Holdings, Inc.

• Others

Key Highlights of the Report