Philippines Skin Care Products Market by Type Product Type (Cream, Lotion, and Others), Demographic (Male and Female), Age Group (Generation X, Millennial, and Generation Z), and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Department Stores, Beauty Salons, Pharmacies & Drug Stores, and Online Sales Channel): Opportunity Analysis and Industry Forecast, 2021–2027
The Philippines skin care products market was valued at $1,205.6 million in 2017, and is projected reach $2,018.6 million by 2027, registering a CAGR of 7.3% from 2021 to 2027. Skin care products are used for personal grooming to enhance the appearance and get the desired look. Skin care products include cream, lotions, serum, peel offs, powder, oil, cleansers, and toners. These products are easily available through various sales channels such as online stores, supermarkets/hypermarket, and specialty stores in the Philippines.
Raise in trend to maintain prolonged beauty, improvement in lifestyle, and increase in female workforce are the key factors substantially bolster the demand for skin care products in the Philippines. Moreover, rise in inclination of customers toward natural and clean label products is expected to offer lucrative opportunities for manufacturers.
Online retail is a huge platform, which is growing at an unprecedented rate in the Philippines. Filipinos are now opting for online shopping, which is anticipated to boost the expansion of online retail stores, due to heavy discounts and home delivery option available in online shopping. Thus, Filipinos are spending lesser time on traditional shopping. This is attributable to rise in number of online retailers in the Philippines, thus increasing the convenience for customers, as goods & services do not require any physical stores and are sold through websites or applications. Thus, increase in digitization and rise in percentage of population inclining toward online shopping in the Philippines are the factors projected to provide remunerative opportunity for the skin care products manufacturers to advertise as well as offer their products through online platforms.
The Philippines skin care products market is segmented into product type, demographics, age group, and sales channel. Depending on product type, the market is categorized into cream, lotion, and others. By demographic, it is bifurcated into male and female. On the basis of age group, it is segregated into generation X, millennial, and generation Z. As per sales channel, it is fragmented into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharmacies & drug stores, and online sales channel.
The key players operating in the Philippines skin care products market analysis includes Procter & Gamble, Patanjali Ayurved Limited, The Estée Lauder Companies Inc., Emami Limited, Johnson & Johnson Services, Inc., the Himalaya Drug Company, Dabur, Kao Corporation, Unilever Plc., L'oréal S.A., and Beiersdorf AG.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis from 2017 to 2027 to identify the prevailing Philippines skin care products market opportunities.
The key countries in all the major regions are mapped on the basis of market share.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the Philippines skin care products industry.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the Philippines market trends, key players, market segments, application areas, and market growth strategies.
KEY MARKET SEGMENTS
By Product Type
By Age Group
By Sales Channel
Pharma and Drug Stores
Online Sales Channel
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