Philippines Skin Care Products Market Thumbnail Image

2020

Philippines Skin Care Products Market

Philippines Skin Care Products Market Size, Share, Competitive Landscape and Trend Analysis Report 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

Select an option
Author's: Nitesh Chouhan| Himanshu Vig | Roshan Deshmukh
Publish Date:

Get Sample to Email

The Philippines skin care products market size 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 is the practice of maintaining and enhancing one’s physical appearance with the use of various skin care products, including cream, lotions and others. These products are easily accessible to its end users in the Philippines through various distribution channels such as supermarkets/hypermarket, online stores, pharmacies & drug stores, department stores specialty stores, and beauty salons. The Philippines skin care products market has witnessed substantial growth in the last few years, due to upsurge in disposable income and shift of Filipinos toward healthier lifestyle. However, the recent outbreak of coronavirus has significantly impacted personal care and cosmetics industry along with all stages of supply chain and value chain. It has further affected the consumer behavior with regards to purchasing cosmetics and skin care products in the Philippines.

According to the Philippines skin care products market analysis, the market is studied on the basis of product type, demographics, age group, and sales channel. Depending on product type, the 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.

Philippines-Skin-Care-Products-Market,-2021-2027

On the basis of product type, the cream segment accounted for the maximum share in the Philippines market in 2017. This is attributable to rise in fashion consciousness among Filipinos in recent years. Moreover, rise in trend of using skin care products such as acne treatments, face masks, facial cleansers, and facial moisturizers among Filipinos, who are keen to maintain a healthy and youthful appearance, drives the Philippines skin care products market demand.

Depending on demographics, the female segment was dominant, which accounted for more than half of the share in market in 2017, and is expected to continue this trend throughout the forecast period. Females in the Philippines have been taking extra efforts on maintaining their well-being, owing to which skin care products are being increasingly adopted among female consumers. Furthermore, surge in female working population, increase in awareness regarding maintaining prolonged beauty, and change in lifestyle have significantly contributed toward the growth of the Philippines skin care products market. In addition, the demand for herbal and natural skin care products is anticipated to increase at a substantial rate during the forecast period, which is likely to boost the Philippines skin care products market growth.

Philippines Skin Care Products Market
By Product Type
Your browser does not support the canvas element.

Cream segment dominates the Philippines market and is expected to retain its dominance throughout the forecast period.

By age group, the generation X segment is expected to garner the highest revenue in 2027, due to increase in engagement of generation X in purchasing skin care products from supermarket/hypermarket, departmental stores, independent stores, and grocery stores. In addition, products such as face mask, anti-aging cream, and other creams, which prevent aging and improve skin radiance are more preferred by this generation. Email marketing, newspaper advertisement, and online advertising on television are expected to gain traction in the near future.

Philippines Skin Care Products Market
By Demographics
Your browser does not support the canvas element.

Male segment is expected to grow at a highest CAGR of 8.2% during the forecast period.

According to sales channel, the supermarket/hypermarket led the Philippines skin care products market share in 2017. This is attributed to increase in popularity of supermarket/hypermarket due to the availability of broad range of consumer goods under a single roof, in addition to ample parking space and convenient operation timings. Consumers in the Philippines prefer to buy products that are on sale. However, the beauty salons segment in the Philippines is expected to exhibit a significant CAGR, due to rise in interest of men in personal grooming. This, in turn, is boosting the adoption of anti-ageing products and other specialized men's skin care products

Philippines Skin Care Products Market
By Age Group
Your browser does not support the canvas element.

Generation Z segment is expected to grow at a highest CAGR of 8.5% during the forecast period.

The players in Philippines skin care products market have adopted new product launch as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in Philippines skin care products industry include 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. 

Philippines Skin Care Products Market
By Sales Channel
Your browser does not support the canvas element.

Beauty Salons segment is expected to grow at a highest CAGR of 10.9% during the forecast period.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market from 2017 to 2027 to identify the prevailing Philippines skin care products market opportunities.
  • The Philippines skin care products market report provides 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 Philippines skin care products market segmentation assists to determine the prevailing opportunities.
  • 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 skin care products market trends, key players, market segments, application areas, and market growth strategies. 

Philippines Skin Care Products Market Report Highlights

Aspects Details
Philippines Skin Care Products Market By Product Type
By Product Type
  • CREAM
  • LOTIONS
  • OTHERS
Philippines Skin Care Products Market By Demographic
By Demographic
  • MALE
  • FEMALE
Philippines Skin Care Products Market By Age Group
By Age Group
  • GENERATION X
  • MILLENNIAL
  • GENERATION Z
Philippines Skin Care Products Market By Sales Channel
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
Key Market Players

Procter & Gamble, Patanjali Ayurved Limited, Dabur, Kao Corporation, The Estée Lauder Companies Inc., Beiersdorf AG., Emami Limited, Himalaya Drug Company, Johnson & Johnson Services, Inc, L'oréal S.A, Unilever Plc

Analyst Review

According to the perspective of top-level CXOs, natural and organic skin care products have gained momentum in the Philippines skin care products market. Thus, shift in the consumer purchasing behavior makes way for manufacturers to introduce herbal skin care products along with affordable prices and eco-friendly packaging.

The CXOs further added that rise in trend has been witnessed among Filipinos of using skin care products such as masks, lotion, cream, serums, peel offs, powder, oil, cleansers, and toners to enhance their physical appearance and keep skin younger and radiant. This factor acts a key factor, which drives the growth of the Philippines skin care products market. Furthermore, increase in penetration of various online portals in the Philippines and huge discounts offered by online channels to attract a large consumer base contribute toward the growth of the market. Moreover, online sales channel has increased the consumer reach, making it the key source of revenue for many companies.
 

Author Name(s) : Nitesh Chouhan| Himanshu Vig | Roshan Deshmukh
Frequently Asked Questions?

The total market value of Philippines skin care products market in 2027 is $2,018.6 million.

The CAGR of Philippines skin care products market is 7.3%.

The base year calculated in the Philippines skin care products market is 2017.

The Philippines skin care products market top impacting factor are rapid growth of online platform, young & rapidly growing population and availability of counterfeit products.

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 forecast period in the market report is 2021-2027.

The key players profiled in Philippines skin care products industry include 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.

The key trends in the Philippines skin care products market report are growth of local beauty brands, increasing influence of social media and consumer inclination towards natural products.

Loading Table Of Content...

Philippines Skin Care Products Market

Opportunity Analysis and Industry Forecast, 2021-2027