Which products are seeing rising demand in the wake of COVID-19? Secure .gov websites use HTTPS Five dos and donts for entering Myanmars retail market, KPMG Report on personal care 2016, Better products for a better you, Bangkok Post, October 10, Personal Care: Trends driving the market, Euromonitor International, The future of beauty and personal care in the globe and Asia Pacific, Singapore Business, Muslim beauty and personal care: a market poised for astronomical growth. When it comes to haircare, shampoos (98.65%) and conditioners (86.8%) are the most used and purchased products no surprises there. 21 - 22 September, Palau de Congressos de Barcelona Register On top of that, you can also find out if and where consumers search for reviews before purchasing a beauty product or service in Singapore. Dermatologist-tested (70.91%), paraben-free (57.53%), and tested on sensitive skin (57.1%) are the top three labels that mattered to our respondents, according to this beauty industry consumer market report. Asian brands have a faster product manufacturing cycle process as compared to that of global companies. dataLayerNews.related_tags = sanitize_gpt_value2("Singapore, SEA"); Stay tuned, because well be breaking down the top 10 trusted skincare, haircare, and makeup brands in Singapore as voted by consumers in an upcoming article! a. Thursday 25th & Friday 26th August 2022, Park Plaza Hotel, Westminster Singapore is the first in the neighbouring markets to adapt and develop new fashion trends. These labels will also help to guide your brand on how to formulate and market your products. In fact, Tan foresees that this high level of innovation could become the signature of the Singaporean beauty industry. Most of the firms are manufacturing its products in the low-cost country because Singapores manufacturing cost is too high. In 2018, the total revenue amounts to US$ 937 million (S$ 1294 million) in this segment of the industry. Delivering what you need, when you need it, where you need it. A lock ( Our team that handles pricing and other decisions is mostly quite generous, so we would recommend you to contact. With the penetration of ecommerce, the online forums and blogs are increasing through which companies are spreading awareness about brand and product. The leading brands of the beauty and personal care are opening brick and mortar stores in Singapore. Curious about how we partner with you to help you solve your complex modern-day business problem? If you are happy with this select "Accept All". Ltd, Caressense biofunctional, powering ageless beauty, Pycnogenol Retains Skin Moisture and Increases Skin Lightening, News & Analysis on Cosmetics Formulation & Packaging in Asia-Pacific. This percentage has increased from 67.0% of respondents from our 2019 survey, which was also the top skin concern. After an exceptional year in 2020 as a result of the COVID-19 pandemic, e-commerce saw continued value growth in beauty and personal care in Singapore in 2021, although its share saw a marginal decline. }); When you think about beauty in Asia, chances your mind would spring to the heavyweights like Japan and South Korea, or the emerging giants of China and India. Clean beauty products are said to contain non-toxic ingredients and have transparent labels that disclose all ingredients to their consumers. What is the market size of Beauty and Personal Care in Singapore? Your email address will not be published. The Asian beauty market continues to experience huge expansion with an annual growth rate of not less than 20%, and Singapore's cosmetic sector hub status continues to advance. It is the major segment of the Southeast Asia market; retailers also operate in other reasons as well with Singapore. South East Asia, Kindly email us at [emailprotected] or call at; +91-9560847547. Because of its pragmatism, Snail White has now become one of Asias most popular range of whitening products. Singapore is getting stronger and stronger. Where is future growth expected to be most dynamic? Cosmeceutical brands are one of the most dynamic categories which is dominating the market through its niche product, which is combined of the revolutionary ingredients with ease of use. Growth is estimated to average 2% annually. Discover why we are the trusted partner for companies looking to grow their business in Asia and beyond. 4. U.S. Department of Commerce The brand follows the products, not the product then the brand. If your brand is in the ranking, the free report can show you how much your ranking changed from last year, which may give you an indication of how effective your branding campaigns have worked so far. For entering the market of the Southeast Asian region, Singapore is the gateway and many brands are targeting the opportunity to grasp the market effectively and providing a full range of products. They were largely focused on perfecting their brows, with eyebrow pencils (1,444 respondents), eyebrow powder (591 respondents), and eyebrow gels (372 respondents) being the most used and purchased brow products. This poses a threat to western multinationals, making them concerned about their competitiveness as price decreases will hit them the hardest. Details are here: https://www.hsa.gov.sg/cosmetic-products/overview, For more information contact: Luanne Theseira (Luanne.Theseira@trade.gov), International Trade Administration Beauty products, such as facial make-up, BB and CC Creams, dewy, fresh, light-weight, no make-up look creams, cushion compact/foundation, facial masks, anti-ageing creams, etc are performing more dynamically. According to Grand View Research, the global halal cosmetics market is expected to increase with a Compound Annual Growth Rate (CAGR) of 15 percent to USD 52 billion by 2025, thereby taking a larger market share in the future. Our Digital team supports you to drive business growth through digital transformation. More importantly, many Asian brands take a product portfolio perspective instead of a brand perspective. vOut = vOut.toLowerCase(); How are sales of mass versus premium beauty products evolving? Consumers pay a 7% Goods & Services Tax (GST). Will I be getting newsletters? Facing a Foreign Trade AD/CVD or Safeguard Investigation? vOut +=', '; According to our 2020 survey, the most common skin type indicated by women and men in Singapore is combination/oily skin (37.86%), followed by combination/dry skin (18.93%), sensitive/combination skin (14.76%), normal skin (8.47%), and sensitive/oily skin (6.38%). Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections. USA.gov|FOIA|Privacy Program|EEO Policy|Disclaimer|Information Quality Guidelines |Accessibility, Official Website of the International Trade Administration, Singapore's Beauty and Personal Care Market, Comply with U.S. and Foreign Export Regulations. This means that a change in price has a larger effect on the demand of personal care products of the multinational brands than in the demand for Asian brands. Sign in The countrys small market size is easy to target through advertising, promotion, retailers and distribution channels. All these players are very, very important because they give you innovation. 7. This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Market Trends, The data is also further broken down to show you the Korean, Japanese, and drugstore brands that are most trusted by consumers in Singapore. Labels allow consumers to quickly identify suitable products that align with their skin type, concerns, and morals, which is why theyre so important in the beauty industry. The Silk Road: what opportunities lie ahead for consumer goods brands? It was very important for us to feature them, said Tan. Fragrance, Local Asian personal care brands currently make up 36 percent of the Asian market, with a year-on-year growth in market share of four percent. The top body concerns shown in the beauty industry consumer market report may surprise you. The image-conscious and affluent male and female of Singapore are more interested in the personal grooming and appearance products and giving high priority to such cosmetics, toiletries and fragrances among all other products. Why are changing lifestyles and consumer behaviour patterns stimulating growth of some categories but not others? Indie Brands, or independent brands, the strong domain of U.S. firms, continue to thrive as consumers seek ways to express their individuality, originality and authenticity. Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. With all businesses, its about the connections. Do I need to subscribe? Medicated Baby and Child-specific Products, Prestige Baby and Child-specific Products, Dermocosmetics Baby and Child-specific Products, Gain competitive intelligence about market leaders, Track key industry trends, opportunities and threats, Inform your marketing, brand, strategy and market development, sales and supply functions. My payment is not going through, what should I do? The consumers who seek these services buy retail products to use at home. Hair Care, Knowing the most common skin types and concerns women in Singapore have is crucial in helping you craft a more relatable marketing message that addresses the main issues of your consumers. What is Blockchain Technology? After the pandemic first hit Singapore, companies found ways to drive sales, despite having fewer consumers in their physical stores. Our site uses cookies to improve functionality. Case studies that can help you learn from other businesses, Growth in the cosmetics and toiletries market is expected to be more competitive as the premium brands are more specialized in niche market segments and increasing numbers of companies are also the major the reason. Singaporean beauty and personal care are covered by the famous leading brands. The Asianifaction of beauty: how homegrown personal care products are winning over Asian consumers, anarticle on the success of local snack food brands in Asia, 2. 9. 1. Whereas it takes two years before Western multinationals can launch a completely new product, Cleo can bring a totally new product into the market within four months; from idea phase right up to shipping. To understand beauty consumers in Singapore better, Daily Vanity has been conducting a large-scale beauty industry consumer market survey annually this being the sixth year weve run this study. This is because consumers are likely to fall back on dependable brands in times of crisis, such as the COVID-19 pandemic. Other common concerns include dark armpits (40.51%), dry skin (38.51%), sensitive skin (35.21%), and overall body fat (32.48%). Among all Southeast Asian countries, the Singapore shopper registered the highest basket size at $67.40. Thats why we need this ecosystem, thats how Japan and Korea started as well., Copyright - Unless otherwise stated all contents of this web site are 2022 - William Reed Ltd - All Rights Reserved - Full details for the use of materials on this site can be found in the Terms & Conditions, Related topics: While still in the early days, the SCSS hopes this event will gain traction and eventually become an in-person event. We develop cutting-edge products and formulations from our network of 48 state-of-the-art innovation centers located worldwide. A .gov website belongs to an official government organization in the United States. Are there any refunds? As the consumers of Singapore are more brand conscious and are only go for the products that are organic and natural. The rise of convenience stores in Thailand: what's the impact on brand owners? function sanitize_gpt_value2(gptValue) Conversion rate is 10% higher than the regions average and beauty is the top eCommerce category. Apart from full brows, a feline flick was also crucial to their look. Global Renewable Energy Industry Analysis 2020. Evonik offloads US betaine business to Kensing, IMCD appoints Henri Kwon as South Korea managing director, CP Kelco on track to expand biogums capacity at US, China facilities, Wacker plans $200m expansion of Tennessee chemicals plant, Gelita opens collagen biotech lab in Frankfurt, BASF claims sustainable coconut oil first after Italy site certification, Azelis adds Green Mountain range to south-east Asia distribution portfolio, Henkel completes $70m upgrade of Kentucky logistics hub, Stockmeier puts store in Italian distributor Gamma Chimica, Ginkgo Bioworks brews fermentation project with Sumitomo Chemical. The study was conducted online in April 2020, and a total of 2,303 women and men based in Singapore took part in this research process. Products for eyelashes were also in demand, as consumers used and purchased volumising mascaras (1,043 participants), lengthening mascaras (875 participants), and curling mascaras (656 participants). { Local players are doing very well in this sector because they have a better understanding of the Muslim consumers in their respective markets. Increasingly, males are spending more: some as high as $296 per month on grooming products. Salon stylists are actively participating in the marketing tactics to sell their products to the consumer by attracting them with promotion packages and loyalty programs, etc. The two other brands that are in the top three list include MAC Cosmetics and Innisfree. Premiumization is the key trend that will drive the sales growth of cosmetics and toiletries due to the increased disposable income levels of the consumers and the rising the affluence of the general population. A locked padlock ) or https:// means youve safely connected to the .gov website. 1401 Constitution Ave NW Sales of colour cosmetics and skincare are highly influenced by the latest market trends and the consumers are willing to try different looks using different colour cosmetics. This is followed by LOreal Paris and LOreal Professionnel. To hear more about the potential Tan sees for Singapores beauty industry, check out our video above. We do not offer any refunds and we stand by the quality throughout the year. Sign out 28 - 29 September, Estrel Congress Center, Berlin In Singapore, nail spas, pedicure and manicure products are popular among women of all ages and have sustained growth of such products. In this segment, the line is so thin between skincare and cosmetics that cosmetics include both functional ingredients and healing properties, such as lip balms combines of colour and skincare. The Silk Road: what does it mean for consumer goods brands today? Follow this link to learn more about our cookie policy and how we use cookies. My account, By Amanda Lim Price fluctuations pose a threat to western brands, Euromonitor International, Reimagining growth in the global health industry, Grand view research, halal Cosmetics Market analysis, by product, by region 2014-2025, Technavio, Global Halal Cosmetics Market, 2017-2021, Seven FMCG Trends to Keep Track of in 2022, Seven FMCG trends to watch out for in 2019. Helping businesses across the world grow with an efficient market research and strategy! Overall, beauty and personal care witnessed an increase in current value sales in 2021. Since weve started wearing face masks in recent months, consumers have started to use and purchase more eye makeup products. This is followed by shavers (46.68%), body scrubs (46.29%), and shower foams (37.26%), which occupy the third, fourth, and fifth spot on our list. Haircare products that address hair and scalp problems have a more loyal customer following in comparison to the more generic product. What is Craft Driven Market Research? For bodycare products, it also comes as no surprise that shower gels (78.55%) and body lotions (48.24%) are ranked the highest. { But in the background, Singapores beauty industry has quietly been advancing with local champions like Skin Inc and Allies of Skin finding renown in the international market. E-commerce is the fastest growing market segment and the traditional retailers are ensuring to have an online presence.
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