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Why Asia Will Be 80% of Cosmetic Market by 2019

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Asia will comprise 80% of global cosmetics sales by 2019, according to Euromonitor figures cited by MakeUp in Seoul, with China accounting for 75% of the region's growth.

While Japan will not drive growth in Asia, it will remain second to the United States in terms of overall cosmetic market size.

Further reading: What's Driving Asia Pacific's Cosmetics Boom?

Korea is the third largest Asian market for cosmetics and 12th overall globally, accounting for more than €6.6 billion in sales. Men alone spend €500 million on beauty products such as lightening creams each year, representing a fifth of the global male market.

Previously: UPDATE: Estee Lauder Invests in Korean Skin and Men's Care Brands

Top trends include

  • functional cosmetics (anti-aging, brightening, sunscreen, etc.)
  • natural and organic products and ingredients (ex: algae extracts, clay, etc.)
  • multi-step (as many as 26) beauty rituals

In Korea, women use more than 13 cosmetics every day on average.

In-depth: Lessons from the Korean Skin Care Market

As Korean beauty becomes more popular, its trends have migrated to top markets, including China.

MakeUp in Seoul takes place April 6 amd 7 at the Conrad Hotel in Seoul.

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