It is perhaps unsurprising that Asia Pacific – the generator of over half of skin care’s global revenues in 2014, and the expected source of over 75% of skin care absolute growth to 2019 – has become the key trend dictator. According to Euromonitor, while Japan has long lost its skin care innovator image, over the past three years a rise in the popularity of K-pop culture and China’s extraordinary path from rags to riches has created a new era in skin care. An analyst insight by Nicole Tyrimou.
International players now create products specifically for Asian consumers, test them in Asia and, if successful, then launch them in the West as well. This strategy is followed by Lancôme, Chanel and Christian Dior, among others. Estée Lauder has even taken it a step further by creating a brand specifically for China back in 2012, called Osaio. Thus, with all eyes on Asia, the region’s influence over skin care has developed in three distinct ways.
Firstly, the rise in popularity and availability of Asian and, more specifically, South Korean beauty has helped innovation adopt a more complex approach. South Korean brands, such as Hera and Etude House, are well known for their multi-step skin care portfolios, which include a number of products, such as cleansers, essence, pre-serum treatments, emulsions and eye serums, all intended for individual application. This has brought about an array of completely new product concepts adopted by international players. Examples include Philosophy’s Brighten My Day All-Over Skin Perfecting Brightening Essence, Embryolisse Emulsion Hydra Mat Freshness Care and La Prairie Anti-Aging Emulsion SPF 30, among others. The trend has also been seen in colour cosmetics, where, since the explosion of BB creams, all eyes have been on Asia …
