Speaker Series Spotlight: Skincare Trends in Asia Leading to Increased Demand for Aussie Beauty Products
Skincare trends from Asia Pacific have revolutionised the beauty industry over the past decade. Innovation powerhouses such as South Korea and Japan, along with China and the rise of C-Beauty continue to inspire Asia and the globe.
Sharon Kwek, Mintel’s Director of Consulting for Beauty & Personal Care, says with wellness-focused innovation mainstreaming in facial skincare, Australian brands which aim to be more disruptive in this space will stand out from the crowd and reap rewards in these massive markets.
This year Sharon was one of more than 30 speakers presenting on a wide range of business topics at the 2022 Naturally Good Expo.
Here are some of the key themes from her Speaker Series presentation – Skincare Trends in Asia.
The ongoing wellness trend in skincare
We first saw the wellness trend emerge five years ago which mostly centered on physical wellbeing. Fast forward to today and that’s evolved into not only physical but emotional and mental wellbeing, too. Consumers are increasingly interested in things like mood-altering ingredients and products, sleep quality, ingestible beauty, and sensorial experiences through sound, sight, smell and touch. For instance, four out of 10 consumers in Thailand for a survey of 1,000 internet users aged 35-44 are willing to pay a premium for skincare with stress-relief benefits.
The sensitive skin market – key stats
- 41 per cent of consumers in China aged 18-49 day they have sensitive skin
- Over the last year products with both for sensitive skin and anti-ageing claims have increased from 27 % to 39%
- Sensitive skin and anti-ageing claims +12 per cent increase in product launches in key markets
What businesses can do to accommodate skin sensitive trends includes the following: extend the value proposition of sensitive skincare, sharpen communication, and be transparent on safety with details of proof across all segmentations and extensions to address consumer concerns. Value added benefits such as whitening, brightening and anti-ageing will also play well in this sector.
Current skincare trends in Asia – localism
The localism trend in beauty continues to gain traction. This was accelerated by the pandemic which forced companies to look within for resources and boost bio-engineered/lab-grown ingredients that are naturally identical. Consumers are also interested in heritage, identity, trust and nature in both skincare and increasingly haircare. However, there are still gaps to be filled which companies can explore and expand on.
The appeal of Aussie beauty in key Asian markets
Australian beauty products have a good reputation for being natural and organic, botanical, and good quality yet pocket friendly which makes them highly appealing. They’re seen to be a good fit in between European and US brands for Asian markets. This is set to continue, along with the rise of the Australian beauty supplements category which has helped cement that reputation.
Aussie botanicals are hot
Asian consumers will be continue to be a viable markets for Australian beauty business with products containing Australian botanicals having a competitive edge. The tie-in to native culture, being able to tell impactful and engaging stories that distinguish brands, whilst aligning with evolving consumer values such as eco-consciousness and social equality, all heighten the appeal.
Australia boasts one of the most botanically diverse markets, which has drawn the attention of many. The beauty and personal care industry is always on the lookout for what’s hot in native ingredients, expansion, and less-extensive routines.
Menopausal beauty – an area to watch
Menopausal beauty, be it skincare, haircare or bodycare, is a growing space to watch. It is currently considered a niche area but brands who can seize the moment and take a bold first-mover approach will take the lead in Asia.
Thanks to our speakers for being part of the 2022 Naturally Good Speaker Series. If you would like to read more key take-aways from our Speaker Series sessions, subscribe here for regular updates.