The Malaysia skin care products market size was valued at $804.5 million in 2019, and is expected to garner $1,288.7 million by 2027, registering a CAGR of 8.1% from 2021 to 2027. Skin care involves the practice of maintaining skin integrity, relieving skin condition, and enhancing one’s physical appearance with the use of herbal gels, sunscreens, and lotions. These products are easily accessible to end users in Malaysia through various sales channels such as supermarkets/hypermarket, online stores, pharmacies & drug stores, department stores specialty stores, and beauty salons. The overseas formulation of skin care products and domestic assembling & packaging is trending in Malaysia.
According to Malaysia skin care products market analysis, the Malaysia skin care products market is studied on the basis of product type, demographics, age group, and sales channel. Depending on product type, the Malaysia skin care products market is classified into cream, lotion, and others. By demographic, it is bifurcated into male and female. As per age group, it is segregated into generation X, millennial, and generation Z. According to distribution channel, it is fragmented into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharmacies & drug stores, and online sales channel.
The Lotions segment would witness the fastest growth, registering a CAGR of 8.9% during the forecast.
On the basis of product type, the cream segment accounted for the maximum share in the market in 2019. This is attributed to the fact that creams exhibit properties such as anti-inflammation and skin firming that boost their Malaysia skin care products market demand among older population in Malaysia. Moreover, increase in personal well-being and appearance consciousness among Malaysian consumers has positively impacted the growth of the Malaysia skin care products market size. However, lotion segment in Malaysia is expected to witness a significant CAGR. Skin care lotions are available in variety of packaging containers. Manufacturers are focusing on innovative packaging and different sizes of the lotion bottles so that these are easy to carry. This availability of different types of packaging makes the lotion segment popular among other segments of the skin care products market.
Male segment would witness the fastest growth, registering a CAGR of 9.2% during the forecast period.
On the basis of demographics, the female segment was dominant, which accounted for more than half of the Malaysia skin care products market share in 2019, and is expected to retain its dominance throughout the forecast period. This is attributed to surge in awareness regarding health and wellness among female consumers in Malaysia. Daily skin care rituals include the use of double cleanse, tone, essence and/or serum, eye cream & face cream, sunscreen, and weekly scrub & mask, which drive the Malaysia skin care products market growth. However, the male segment in India is expected to witness a significant CAGR, owing to rise in consciousness of personal well-being and desire to maintain strong identity and self-image. Thus, a wide range of deep nourishing skin such as lotions, creams, and oils have been introduced in the Malaysia skin care products market. This, in turn, is anticipated to boost the growth of the Malaysia skin care products market during the forecast period.
By Age Group
Millennial segment would witness the fastest growth, registering a CAGR of 9.5% during the forecast period.
On the basis of age group, the generation X segment has contributed to the highest revenue in 2019, as these consumers are the key purchasers of skin care products such as face mask, anti-aging cream, and other creams, which prevent aging and improve skin radiance. Moreover, aggressive advertisements of skin products product through print media such as magazines and newspaper are useful to connect with the generation X consumers and increase product sales, which contribute toward the market growth
By Distribution Channel
Online Stores segment would witness the fastest growth, registering a CAGR of 10.6% during the forecast period.
On the basis of sales channel, hypermarket/supermarket accounted for the maximum share in the Malaysia skin care products market in 2019. This is attributable to increase in urbanization, rise in working class population, and competitive pricing offered by hypermarkets/supermarkets in Malaysia. However, online sales channel in India is expected to witness significant growth, due to increase in netizens and rise in digitization, which have influenced the consumer purchase behavior in Malaysia.
The players in Malaysia skin care products market have adopted new product launch as their key developmental strategy to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in Malaysia skin care products industry includes L'Oréal Group, the Procter & Gamble Company, Unilever PLC, Bejesdorf AG, Berjaya Corporation Berhad, Estee Lauder Companies Inc., Alticor Inc., Wipro Ltd., Shiseido Company Limited, and Avon Products Inc.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current Malaysia skin care products market trends, estimations, and dynamics of the market size from 2017 to 2027 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists to determine the prevailing Malaysia skin care products market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the Malaysia skin care products industry.
Malaysia Skin Care Products Market Report Highlights
By Age Group
By Sales Channel
As of 2019, Malaysia’s population size is 32.6 million. Malaysia’s “15-64” age group makes up 66.6% of the population with per capita income of $9,766. About 70% of Malaysians are urban dwellers. Bulk of job opportunities are centered in the highly urbanized cities of Kuala Lumpur, Penang, and the Johor region near Singapore. In addition, this age group has higher disposable income along with high spending power, which increases the consumption of imported products. Thus, Malaysia is witnessing increase in demand for skincare and grooming services by the urban male population. According to the World Bank, female work force participation is around 46.8% in 2019. This rise in female workforce due to overseas exposure, and familiarity with foreign cosmetics and skin care brands, and knowledge of the basics of skin-care regimen are the key factors that bode well for the U.S. companies planning to expand business in Malaysia. According to the World Bank, 46.8%. Furthermore, younger generation females tend to purchase Korean branded products, due to the massive advent of K-Pop and K-Drama in Malaysia. Moreover, the price point for Korean cosmetics and personal care products that are available in the country are more affordable in comparison to the U.S., EU, Australian, and Japanese products.