Skincare and Makeup (Southeast Asia Outlook July 2024)

This outlook was shared by TMO Group at the South China International Beauty Expo. This report analyzed data from Shopee, Lazada and TikTok and focused on the Southeast Asian market for cosmetic products. The primary focus was on three categories: skincare, cosmetics, and beauty devices and tools.

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  • Market overview for Southeast Asian 6 countries (Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and Singapore)
  • A detailed analysis of three different segments (include skincare, makeup, beauty devices and tools)
  • Price ranges, that generate most of the revenue, by country
  • List of leading brands (with their market share) in each market segment
  • List of popular products in each market segment
  • TikTok market overview
This Outlook is based on May 2024 data. ) [_table_of_contents] => Array ( [0] => field_65b18cc85d2c7 ) [highlight] => Array ( [0] => The cosmetics industry has emerged as one of the most attractive growth sectors globally. According to the "2024 China Cosmetic Market Insights Report" released by Yibang Research Institute and Ant International, the global cosmetic market grew by 8.9% year-on-year in 2023. While the growth rate in North America and Europe has slowed, the Southeast Asian market has demonstrated strong growth potential. Statista predicts that the Southeast Asian cosmetic market will reach $34.21 billion by 2024 and maintain steady growth from 2024 to 2028. This trend indicates that Southeast Asia is rapidly rising as a prime market for cosmetic brands looking to expand internationally. By leveraging these insights, brands can gain a deep understanding of Southeast Asian consumers' demands and preferences for skincare and makeup products, develop market-appropriate products and marketing strategies, as well as enhance their market share and brand recognition. In May 2024, the total sales revenue of skincare and makeup in Southeast Asia on Shopee and Lazada reached approximately $620 million. Vietnam and Indonesia exhibited particularly strong demand. Skincare products were the most popular among Southeast Asian consumers, holding the highest market share across all six countries. Compared to other countries, makeup products also gained significant popularity in Indonesia, the Philippines, and Malaysia. In terms of brand performance, local Southeast Asian and Western brands stood out prominently. Indonesian brand Skintific emerged as the leading brand in the cosmetic sector. The second and third positions were held by French brand La Roche Posay and American brand CeraVe, respectively. For detailed market trend and brand sales performance in different countries, please feel free to download the outlook. ) [_highlight] => Array ( [0] => field_65b18d3a62844 ) [highlight_gallery] => Array ( [0] => a:4:{i:0;s:5:"87680";i:1;s:5:"87681";i:2;s:5:"87682";i:3;s:5:"87683";} ) [_highlight_gallery] => Array ( [0] => field_65b18d6f62845 ) [highlight_popup] => Array ( [0] => 1 ) [_highlight_popup] => Array ( [0] => field_65b18d7f62846 ) [button_link] => Array ( [0] => a:3:{s:5:"title";s:23:"Request a custom report";s:3:"url";s:9:"/contact/";s:6:"target";s:6:"_blank";} ) [_button_link] => Array ( [0] => field_65de8afb998f5 ) [related_downloads] => Array ( [0] => ) [_related_downloads] => Array ( [0] => field_65b18dfcc580d ) [banner_link_1] => Array ( [0] => /contact/ ) [_banner_link_1] => Array ( [0] => field_65b18eda3aab7 ) [banner_link_2] => Array ( [0] => ) [_banner_link_2] => Array ( [0] => field_65b18f013aab8 ) [qa_0_question] => Array ( [0] => Which payment methods are currently available to purchase a resource? ) [_qa_0_question] => Array ( [0] => field_65b18f3b3aabc ) [qa_0_answer] => Array ( [0] => At the moment we only support credit card payments. 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From preliminary eCommerce scans that inform your market entry strategy, to monthly data checks, and long-term monitoring, we offer custom data collection and analysis to help identify your industry's market structure, pricing, top competitors, trends, and more. To learn more, navigate to our "Data Service" page in the main menu or contact us to discuss your data needs. ) [banner_title] => Array ( [0] => Need specific data for your business? ) [_banner_title] => Array ( [0] => field_6650573688572 ) [button_text] => Array ( [0] => Customize your report ) [_button_text] => Array ( [0] => field_6650576288573 ) )

What Will You Find...

  • Market overview for Southeast Asian 6 countries (Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and Singapore)
  • A detailed analysis of three different segments (include skincare, makeup, beauty devices and tools)
  • Price ranges, that generate most of the revenue, by country
  • List of leading brands (with their market share) in each market segment
  • List of popular products in each market segment
  • TikTok market overview

This Outlook is based on May 2024 data.

Highlights

The cosmetics industry has emerged as one of the most attractive growth sectors globally. According to the "2024 China Cosmetic Market Insights Report" released by Yibang Research Institute and Ant International, the global cosmetic market grew by 8.9% year-on-year in 2023. While the growth rate in North America and Europe has slowed, the Southeast Asian market has demonstrated strong growth potential. Statista predicts that the Southeast Asian cosmetic market will reach $34.21 billion by 2024 and maintain steady growth from 2024 to 2028. This trend indicates that Southeast Asia is rapidly rising as a prime market for cosmetic brands looking to expand internationally.

By leveraging these insights, brands can gain a deep understanding of Southeast Asian consumers' demands and preferences for skincare and makeup products, develop market-appropriate products and marketing strategies, as well as enhance their market share and brand recognition.

In May 2024, the total sales revenue of skincare and makeup in Southeast Asia on Shopee and Lazada reached approximately $620 million. Vietnam and Indonesia exhibited particularly strong demand.

Skincare products were the most popular among Southeast Asian consumers, holding the highest market share across all six countries. Compared to other countries, makeup products also gained significant popularity in Indonesia, the Philippines, and Malaysia.

In terms of brand performance, local Southeast Asian and Western brands stood out prominently. Indonesian brand Skintific emerged as the leading brand in the cosmetic sector. The second and third positions were held by French brand La Roche Posay and American brand CeraVe, respectively.

For detailed market trend and brand sales performance in different countries, please feel free to download the outlook.

sea-cosmetic-segments-market-share
sea-cosmetic-top-brands
sea-cosmetic-hot-products

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Questions & Answers

Which payment methods are currently available to purchase a resource?

At the moment we only support credit card payments. However, in the near future this will be expanded to include other popular methods such as WeChat Pay and Alipay.

What should I do if I have not received my email or my payment failed?

If you encounter any problems throughout the ordering process, get in touch with us. You can reach us through our online customer service. Alternatively, you can send an email to info@tmogroup.asia or give us a call at +86 (0)21 617 00 396.

If my payment was successful, can I receive an invoice?

TMO Group can provide an invoice for purchase of the guides. If you need an invoice, please send a request by email to info@tmogroup.asia with the detailed company information for the invoice and the payment receipt. Once we receive, we can issue the digital invoice and send it to you via e-mail within 10 working days.

I need specific data about my industry, do you offer customized reports?

Yes! From preliminary eCommerce scans that inform your market entry strategy, to monthly data checks, and long-term monitoring, we offer custom data collection and analysis to help identify your industry's market structure, pricing, top competitors, trends, and more. To learn more, navigate to our "Data Service" page in the main menu or contact us to discuss your data needs.
Can’t find the answer here? Contact us for support.

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