- There is a considerable increase in demand for skincare products in the Japanese market.
- Demand for skin care is driven by innovative solutions offered by companies and the burgeoning luxury standards of Japanese consumers.
Ken Research announced its latest publication on, “Consumer and Market Insights: Skincare in Japan, provides a detailed analysis of the Japanese skincare market. The publication examines the ongoing trends and key issues within the various categories of the Japanese Skincare market. In addition, the research also includes market data of the overall industry along with growth analysis for the forecast (2015-2020) period. Category-wise distribution and packaging data within the Japanese skincare market is also included in the publication.
The stable growth in Japanese macroeconomic environment and rapid development of its economy has led to an increase in the real purchasing power of the people. This has further resulted in the enhancement of quality of life led by the Japanese people, thereby increasing the need for more luxury products. Additionally, the Skincare products have reportedly contributed the highest in terms of value and volume in the overall lifestyle products industry. Within the Skincare market, Facial Care segment has witnessed fastest growth. But data reveals that Body Care, Depilatories and Make-up Remover are also fast catching up at a CAGR of 2.5% each during 2015-2020. Such an increase in demand has resulted in an equal reaction in supply-side as the manufacturers are facing tough competition from each other. Innovation in the formula of the product, to its impact, its packaging, its distribution and pricing is the key to attract consumers.
The Japanese Skincare market is undergoing a significant shift in trends as the consumers are more inclined towards buying natural/organic products.Therefore, there are increased opportunities for local players to gain competitive advantage. In addition, the local players also have better access to natural raw-material that can be found in Japan and further processed to create organic/natural Skincare products.
Global Skincare Industry
Increased spending power and rising aspirations of the consumers are the key driving forces behind the consistent and rapid growth of the global skincare industry. Skincare is now rightly considered the most profitable of all products being manufactured in the global cosmetics industry. The blurring of gender boundaries is also providing impetus to the already fast-growing industry, as both men and women are using skincare products such as fairness creams, sun care lotions and anti-aging creams.
Some of the key factors governing the global skincare industry include:
- Better accessibility to advanced technology and raw materials is allowing a large number of small players to enter the market i.e. increased competition.
- Extreme sophistication of packaging techniques and distribution channels is enabling manufacturers to cut down costs and offer better value to the customer.
Key Topics Covered in the Report:
- Detailed analysis of Japanese Skincare industry
- Value and volume analysis for Japanese Skincare market
- Historic and Forecast value analysis by category
- Retail landscape and key distribution channels
- Detailed profiles of leading retailers in Japan
- Key issues and trends in the packaging industry
- Consumer trend framework
- Analysis of mega-trends
- Profiling of new products launched in the Japanese Skincare market
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Ankur Gupta, Head Marketing & Communications