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2020
Myanmar Skin Care Products Market

Myanmar Skin Care Products Market by Type (Cream, Lotion, and Others), Demographics (Male and Female), Age Group (Generation X, Millennial, and Generation Z), and Sales Channel (Supermarket/Hypermarket, Specialty Stores, Department Stores, Beauty Salons, Pharma & Drug Stores, and Online Sales Channel): Country Opportunity Analysis and Industry Forecast, 2021–2027
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A06730
Pages: 96
Aug 2020 | 8432 Views
Author(s) : Himanshu Vig , Roshan Deshmukh
Tables: 4
Charts: 38
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The Myanmar skin care products market size was valued at $ 272.3 million in 2019, and is projected reach $ 501.6 million by 2027, registering a CAGR of 8.6% from 2021 to 2027. Skin care products refer to those products, which improve skin integrity and provide relief to skin conditions, thereby enhancing the appearance. Several types of skin care products available in the market include cream, lotion, masks, and serums. Skin care products are manufactured using various ingredients such as chemical compounds, medicinal herbs, or natural ingredients. 

Amidst the outbreak of COVID-19, growth of skin care products market in Myanmar market is likely to hamper for the current and next year, however the industry is poised to rebound back post 2022.

 

Increase in product awareness, rise in penetration of retail sales, and surge in disposable income provide impetus to the Myanmar skin care products market. Furthermore, expansion of global brands in the market along with favorable government policies toward local manufacturing of products are expected to drive the market growth in the upcoming years. However, high manufacturing cost for cosmetics domestically remains a major challenge for the players. Furthermore, lack of infrastructure, a weak legal framework, and excessively high commercial rents hamper the market growth in the country. On the contrary, aggressive advertising and marketing of skin care products through social media influencers provides lucrative opportunities for the engaged stakeholders to increase brand awareness and market share. Furthermore, Thanaka-based products are popular in the country, as a result operating players in the region are offering Thanaka-based skin care products to expand their market share in the highly competitive industry in Myanmar.

Myanmar-Skin-Care-Products-2020-2027

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The outbreak of coronavirus has significantly impacted not only on various consumer goods industries but also all stages of the supply chain and value chain of various industries. In addition, the consumer goods industry is currently facing challenges due to halting of operations, which, in turn, has disrupted the economy of Myanmar. Decline in growth of the Myanmar skin care products market in 2020 is attributed to the COVID-19 outbreak. In addition, it has negatively impacted the import/export, economies, and industries in Myanmar. Myanmar has been successful in stemming the tide of COVID-19 infections over the last three months, however, the economy is expected to witness negative impact in 2020. The reduced disposable income will alter the consumer purchasing behavior. In addition, consumers in the country are actuated to curtail expenditure on cosmetics and skin care products, however, in the long run, the country is likely to witness robust growth.

According to Myanmar skin care products market analysis, the market is segmented into type, demographics, age group, and sales channel. By type, it is categorized into cream, lotion, and others. Depending on demographics, it is bifurcated into male and female. On the basis of age group, it is classified into generation X, millennial, and generation Z. As per sales channel, the market has been studied across supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel.

Myanmar Skin Care Products Market
By Product Type

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Others segment would exhibit the highest CAGR of 9.6% during 2021-2027.

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On the basis of type, the cream segment accounted for the more than 50% market share in 2019, and is projected to retain its dominance in the upcoming years. This is attributed to the fact that anti-ageing, anti-wrinkle, and moisturizing creams are widely accepted among female consumers in the country. However leading players in the industry are now launching products to tap opportunities for men. 

Myanmar Skin Care Products Market
By Demographics

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Male segment would exhibit the highest CAGR of 9.3% during 2021-2027.

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Depending on demographics, the female segment was dominant, which accounted for more than two-third of the Myanmar skin care products market share in 2019, and is expected to continue this trend during the Myanmar skin care products market forecast period. Skin care products have high penetration among the female consumers, whereas the market for male consumers remains fairly niche.

Myanmar Skin Care Products Market
By Age Group

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Generation Z segment would exhibit the highest CAGR of 10.0% during 2021-2027.

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According to age group, the millennial segment held a significant share in the Myanmar skin care products industry in 2019. However, the generation Z segment is expected to garner a considerable share in the market. This is attributed to the fact that various bloggers of generation Z are educating and promoting young generation about the importance of sunscreens, skincare routines, and make-up trends on various social media platforms.

Myanmar Skin Care Products Market
By Sales Channel

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Online Sales Channel segment would exhibit the highest CAGR of 11.8% during 2021-2027.

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As per sales channel, the supermarket/hypermarket segment held a significant share in the Myanmar skin care products market in 2019. However, the online sales segment is expected to garner a considerable share, due to rise in penetration of internet and surge in sale of skin care products via social media platforms in Myanmar  

The key players analyzed in the Myanmar skin care products market report are L'Oréal S.A., Kao Corporation, Estee Lauder, Revlon Inc., Unilever Group, Shiseido Company Limited, Procter & Gamble, Frenzo Myanmar Company Limited, Beiersdorf AG, and Shwe Pyi Nann. 

Key market benefits for stakeholders

  • The report provides extensive analysis of the current & emerging trends and opportunities in the Myanmar skin care products market.
  • The report provides detailed qualitative and quantitative analyses of current trends and future estimations, which help to understand the prevailing Myanmar skin care products market opportunities.
  • A comprehensive analysis of factors that drive and restrict Myanmar skin care products market growth is provided in the study.
  • An extensive analysis of the market is conducted by following key product positioning and monitoring top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential & niche segments.  

Key Market Segments & Key Market Players

Segments Sub-segments
By Type
  • CREAM
  • LOTIONS
  • OTHERS

By Demographic
  • MALE
  • FEMALE

By Age Group
  • GENERATION X
  • MILLENNIAL
  • GENERATION Z

By Sales Channel
  • PREMIUM SKIN CARE PRODUCTS
  • NON-PREMIUM SKIN CARE PRODUCTS
  • SUPERMARKET/HYPERMARKET
  • SPECIALTY STORES
  • DEPARTMENT STORES
  • BEAUTY SALONS
  • PHARMA & DRUG STORES
  • ONLINE SALES CHANNEL

Key Market Players
  • L'Oréal S.A.
  • Kao Corporation
  • Estee Lauder
  • Revlon Inc
  • Unilever Group
  • Shiseido Company Limited
  • Procter & Gamble
  • Frenzo Myanmar Company
  • Beiersdorf AG
  • Shwe Pyi Nann
 

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Skin care remains vital for the residents of Myanmar, owing to increase in awareness about skin care, exposure to the Western trend, increase in online penetration of brands, and decline of tariff. Consumers in the country are now transitioning from traditional Thanaka to high-end skin care products. Furthermore, Korean brands have major influence over the people with their products presence across physical as well as digital stores. Consumers are gradually shifting their focus from mass to luxury products, however, the market remains dominated by the mass products. The CXOs further added that the political environment remains favorable for international brands who want to establish their manufacturing in Myanmar.  

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FREQUENTLY ASKED QUESTIONS?

A. The Myanmar skin care products market size was valued at $ 272.3 million in 2019.

A. The forecast period in the Myanmar Skin Care Products Market report will be from 2021 to 2027.

A. The base year calculated in the Myanmar Skin Care Products Market report is 2019.

A. Leading players operating in the region are L'Oréal S.A., Kao Corporation, Estee Lauder, Revlon Inc., Unilever Group, Shiseido Company Limited, Procter & Gamble.

A. The male segment of the Myanmar skin care products market is the most influential segment of the report.

A. The cream segment accounted for the maximum market share in 2019, and is projected to retain its dominance in the upcoming years.

A. The Myanmar skin care products market size is estimated to be valued at $ 306.5 million in 2021.

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