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Facial Skincare Market - Global Annual Review - 2016

The East Asian trifecta of China, Japan and South Korea remain the biggest markets for facial skincare.  South Korea has the highest per capita spend on facial skincare. Japan is in second place for per capita spend.

Although the economy is slowing in China, the country is still expected to mount an impressive expansion in Gross Domestic Product (GDP) for 2015 and to be the largest market for facial skincare. Yet, commodity exporters like Indonesia, which have supplied the manufacturing appetite of China, have seen their GDP tumble with negative reverberations on growth of skincare sales.

India is the third fastest growing facial skincare market, based on growth in local currency over the last five years, but still has low per capita spend at under one dollar per year, so has much more room to grow. With the economic repercussions being felt by Asian neighbours, India has side stepped the problem with a relatively diversified economy. As commodity exporters struggle in the region, India is taking advantage of the lower raw material costs and is projected to outpace China in 2015. These overall economics bear well for a sustained increase in sales of skincare products as the middle class expands with a strong appetite for international brands. 

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Facial Skincare Market - Global Annual Review - 2016

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