Philippines Beauty & Personal Care Market

The Philippines beauty & personal care market size was valued at $3.3 billion in 2018, and is projected to reach $4.7 billion by 2026, registering a CAGR of 4.8% from 2019 to 2026. Beauty & personal care products are used for maintaining personal hygiene and enhancing one’s physical appearance. These products include sun care, skin care, hair care products, toiletries, and fragrances. They are easily accessible to end users through various distribution channels,such as supermarkets/hypermarket, online stores, and specialty stores in Philippines. 

The Philippines beauty & personal care market is segmented into product type, gender, end use, nature, and distribution channel. Depending on product type, the market is classified into skin care, hair care, color cosmetics, fragrances, toiletries, and others. By gender, it is bifurcated into male and female. Depending on nature, it is divided into natural, organic, and synthetic. On the basis of end use, the market is segregated into commercial and household. As per distribution channel, it is fragmented into supermarkets/hypermarkets, specialty stores, convenience store, B2B, and online stores.

On the basis of product type, the skin care segment accounted for the maximum share in the global Philippines beauty & personal care market in 2018. This is attributable to rise in influence of celebrities on young consumers in Philippines through social media. Moreover, increase in trend of using skin care products such as face masks, facial cleansers, and facial moisturizers among Filipinos, who are keen to maintain a healthy and youthful appearance, contributes toward the growth of the skin care segment.

On the basis of nature, the synthetic segment was dominant, which accounted for more than half of the share in the Philippines beauty & personal care market in 2018 and is expected to continue this trend throughout the forecast period. This is attributed to easy availability of these products for its target customers at affordable prices. However, Upsurge in demand for natural beauty & personal care products is anticipated to boost the Philippines beauty & personal care market growth in the upcoming years. This has increased the for Philippines beauty & personal care market demand. Therefore, the beauty & personal care manufacturers have been strategizing on including natural plant-based ingredients in its production process.

By end use, the household segment held a significant share in the global market in 2018. However, the commercial segment is expected to garner a considerable share. This is due to the rising social media and celebrityinfluence on Filipinos. This has witnessed the changes in hairstyle trends, and more inclination towardenhancing physical appearance to get celebrity looks. This, in turn, encourages consumers in the Philippines for preferring beauty parlors and hair salons services for getting a desired look.

Depending on gender, the female segment was dominant, which accounted for more than half of the share in the Philippines beauty & personal care market in 2018 and is expected to retain its dominance throughout the forecast period. This is attributed to the fact that women in the Philippines have been taking extra efforts on maintaining their looks and appearance. Thus, product such as skin care, color cosmetics, and hair color are witnessing increased popularity among women consumers in the Philippines.

Hypermarket/supermarket was the prominent distribution channel in 2018, and the segment garnered the maximum share in market. This is attributed to in the fact thatin hypermarket/supermarket, Filipino consumers have advantages of scanning beauty & personal care products of different types & brands and presence of store associates for helping the customers to choose the right product and provide product knowledge that boosts the growth of the segment during Philippines beauty & personal care market forecast. However, online stores segment is expected to register significant growth rate, as online platforms are becoming a popular medium for the purchase of beauty & personal care product among the Filipinos. This is attributed to time-saving feature and the facility of home delivery provided by these channels. 

The players in the 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 the Philippines beauty & personal care market analysis include L’Oréal, Shiseido Company Limited, Coty Inc., Estée Lauder Companies Inc., Unilever, Beiersdorf AG, Olay, Kao Corporation, Johnson & Johnson services, Inc. and LVMH.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current Philippines beauty & personal care market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing Philippines beauty & personal care market opportunity

• 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, Philippines beauty & personal caremarket share and segmentation assists to determine the prevailing market opportunities

• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the Philippines beauty & personal care industry players

 Philippines Beauty & Personal Care Market Report Highlights