Japan Professional Skincare Market To Generate USD 15.3 Billion Revenue by 2030
- Published: October 2023
The Japan professional skincare market size is expected to advance at a CAGR of 3.72% during 2024–2030, to reach USD 15.3 billion by 2030. This can be ascribed to the rising consumer preference toward advanced skincare products, increasing problems related to acne, the growing aging population, rising awareness of healthy skin, and surging disposable income. Furthermore, the growing awareness of skin diseases, primarily on account of the rising number of conferences and seminars, is driving the growth of the industry in Japan.
Additionally, the change has been observed especially in the way that people buy skincare products. During the time of pandemic, physical stores were closed and people started preferring online shopping via e-commerce platforms. A large number of key players prefer and are happy with the shift toward e-commerce, as it is more cost-effective as compared to physical stores. In addition, beauty retailers got a chance to enhance the online shopping experience with the advancing technology. Also, retailers gain advantages from e-commerce because of analytics offered and assist them in charting customer conduct and comprehending demand patterns.
Rising Inclination of Consumers Toward Advanced Cosmetic Products
The easy availability of a wide range of advanced cosmetic goods for wrinkle reduction, skin rejuvenation, cellulite reduction, ache, microdermabrasion, and others has resulted in their increased popularity among consumers, who are now showing a willingness to spend on these goods for personal care. With adults seeking ways of maintaining their youthful appearance and the older population focusing on measures to keep the signs of aging at bay, the adoption of these products is on the rise in Japan.
Therefore, brightening, anti-aging, and moisturizing commodities are in high demand in the country. Eye care products are trending among all of these because of wearing face masks at the time of the pandemic. Customers in Japan are basically known for using safe and excellent quality products. In order to get effective results, people are interested in experimenting with unique and novel ingredients and also following emerging fashion trends. Further, movements followed by social media related to sustainable lifestyle and health affect the behavior of consumers in the country regarding the selection of goods that promote organic, wellness, natural, and clean beauty.
Additionally, they adopt advanced technologies in personalization and customization. For instance, some of the examples of developments in technology are Fancl’s virtual AR make-up simulator, Pola Orbis’s AI on individualized skincare development, and Kao’s fine fiber technology with its ultra-thin skin layer diffuser application.
Moreover, individuals are concerned about their appearance and shifting their preference toward advanced technologies, and they have a good income in their pockets to spend on such products. Hence, the introduction of new and advanced products by companies in the market provides extreme satisfaction to their consumers.
Furthermore, due to changes in hormones, there is a gradual loss of collagen, which further causes changes in the body such as discoloration, fine lines, large pores, age spots, broken blood vessels, and acne scars. These issues can be treated with the help of various skincare products, owing to their effectiveness.
The most-significant Japanese professional skincare market players are Acseine Co. Ltd., Natura &Co, KOSÉ Corporation, Kao Corporation, Nippon Menard Cosmetic Co. Ltd., Kracie Holdings Ltd., Mandom Corporation, LVMH Moët Hennessy - Louis Vuitton, Shiseido Company Limited, and Unilever Japan K.K.