Malaysia Skin Care Products Market Fastest Growing and Highest Revenue Generating Segments, Key Trends

M- skincare – AMR

On the idea of age group, the millennial phase displays highest CAGR of 9.5% from 2021 to 2027.

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, October 31, 2022 /EINPresswire.com/ — According to a brand new report printed by Allied Market Research, titled, “Malaysia Skin Care Products Market by Type, Technique, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027,”the Malaysia skincare merchandise market measurement was valued at $804.5 million in 2019, and is projected attain $1,288.7 million by 2027, registering a CAGR of 8.1% from 2021 to 2027.

This is particularly true for the skincare merchandise focusing on the medical skilled channels resembling dermatologists and plastic surgeons. In Malaysia, majority of merchandise are bought by way of spas & salons, retail shops, and multi-level advertising and marketing/direct promoting channel. Oil-free hydration, shine-free, and anti-blemish merchandise are witnessing excessive demand. This is attributed to the truth that product formulations that present matt/silky, non-sticky, and powdery end carry out effectively in a scorching & humid tropical nation resembling Malaysia. Increase in concern about pigmentation, darkening of the pores and skin tone, and pores and skin most cancers among the many populace in Malaysia has boosted the demand for sunscreen, which, in flip, contributes towards the general Malaysia skincare merchandise market progress.

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Social media has helped main manufacturers working within the nation to extend consciousness relating to pores and skin & magnificence care merchandise, significantly amongst millennial. In addition, magnificence bloggers and social media influencers are creating new progress avenues for the Malaysia skincare merchandise market evaluation. Large variety of native YouTubers are actually internet hosting standard channels with demonstrations product evaluations and tutorials, which additional propel the Malaysia skincare merchandise market alternative .

Popular mass market manufacturers obtainable available in the market are largely from the U.S., which embrace Cover Girl, Maybelline, and L’Oréal. On the opposite, standard larger priced coloration cosmetics manufacturers obtainable available in the market are from the Estee Lauder Companies, Moet Hennessy Louis Vuitton, and Chanel.

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The Malaysia skincare merchandise market is studied on the idea of product kind, demographics, age group, and gross sales channel. Depending on product kind, the market is categorized into cream, lotion, and others. By demographic, it’s bifurcated into male and feminine. According to age group, it’s fragmented into technology X, millennial, and technology Z. As per gross sales channel, it’s labeled into grocery store/hypermarket, specialty shops, malls, magnificence salons, pharma & drug shops, and on-line gross sales channel.

Key findings of the examine

Depending on kind, the cream phase was the best contributor to the Malaysia skincare merchandise market, and is anticipated to develop at a CAGR of seven.5% from 2021 to 2027.
By demographics, the feminine phase was the best contributor to the market by way of worth in 2019 and is estimated to develop at a CAGR of seven.3% from 2021 to 2027.
On the idea of age group, the millennial phase displays highest CAGR of 9.5% from 2021 to 2027.
The supermarkets & hypermarkets phase accounted for 33.04% of the overall Malaysia skincare merchandise market share in 2017, and is estimated to develop at a CAGR of 6.5%.

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Key Players:

The key gamers working within the Malaysia skincare merchandise trade are the 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. However, native gamers are repeatedly strengthening their foothold within the nation, owing to rise in demand for Halal-certified client merchandise and improve in demand for skincare merchandise formulated from pure sources.

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David Correa
Allied Analytics LLP
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