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MARKETS OF THE FUTURE: ASEAN IN 2020
CONNIE LEE Business Development Health and Beauty Specialist
Unlocking Opportunities In Beauty And Personal Care
©2015 Euromonitor International
INTRODUCTION
About Euromonitor International
Singapore
©2015 Euromonitor International
Syndicated industry coverage INTRODUCTION
©2015 Euromonitor International
TODAY
MARKETS OF THE FUTURE
©2015 Euromonitor International
TODAY
MARKETS OF THE FUTURE
US$465 of total beauty and personal care retail sales in the world in 2014
billion
6.3% value growth generated in Asia in 2014
represented by Asia Pacific in 2014
29%
©2015 Euromonitor International
ASEAN as the markets of the future Sales US$ billion In 2014
MARKETS OF THE FUTURE
©2015 Euromonitor International
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World Asia Pacific WesternEurope
NorthAmerica
LatinAmerica
EasternEurope
Middle Eastand Africa
Australasia ASEAN
Global Beauty and Personal Care Value Market Size 2014
US$ billion Growth 2014
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ASEAN Beauty and Personal Care Category Breakdown
Market Sizes, US$ bn, Retail Value RSP, 2014 2014-19 Forecast Growth
Regional beauty driven by skin care Market Sizes Retail Value RSP, US$ bn, 2014 sizes and Forecast Growth Rate
©2015 Euromonitor International
MARKETS OF THE FUTURE
©2015 Euromonitor International
MARKETS OF THE FUTURE
ASEAN still stronghold of international brands
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Avon
Sunsilk
Johnson's
Signal
Colgate
Artistry
Mistine
Pantene
L'Oréal Paris
Nivea
Clear
Dove
Olay
Pond's
ASEAN: Share Growth Of Top 15 BPC Brands 2009-2014
Market Value Share Growth (percentage points)
*Based on Euromonitor researched countries
©2015 Euromonitor International
2020
MARKETS OF THE FUTURE
Directing Beauty
Growing Purchasing
Power
Young Population Base
Urbanization Digital Impact
Retail Network Development
MARKETS OF THE FUTURE
©2015 Euromonitor International
MARKETS OF THE FUTURE
©2015 Euromonitor International
Asia’s fastest growing markets to be Indonesia and Vietnam
People Personalisation
Path To Purchase
MARKETS OF THE FUTURE
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MARKETS OF THE FUTURE
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Philippines
Source Euromonitor International
Thailand
Singapore
Indonesia
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Where in Asia Pacific Will Women Enjoy Improved Financial Independence?
Income: Women In Thailand And Singapore Among Most Financially Independent
Asia Pacific Divided By Age 2014
Age: In Southeast Asia, Youth Are The Majority MARKETS OF THE FUTURE
54% of the
world’s population aged 65+ are in Asia Pacific in 2014
Population 29 and Under
Population 30 and older
17% Of population 29 and under in Asia Pacific is coming from ASEAN
©2015 Euromonitor International
MARKETS OF THE FUTURE
Gender: Social and Cultural Shifts Change Traditional Grooming Practices
©2015 Euromonitor International
People Personalisation
Path To Purchase
©2015 Euromonitor International
MARKETS OF THE FUTURE
Rising sophistication benefits beauty in Southeast Asia MARKETS OF THE FUTURE
More complex beauty regimes
Attention to ingredients within and quality of products
Increased demand for skin whitening products
Beauty products’ unit prices rising faster in core growth markets
MARKETS OF THE FUTURE
©2015 Euromonitor International
Skin Care To Be Driving Growth In Beauty And Personal Care
MARKETS OF THE FUTURE
Absolute Growth of Skin Care Value US$ bn, Current Value, Fixed Exchange Rates
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Asia Pacific Australasia Eastern Europe Latin America
Middle East and Africa North America Western Europe
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Natural Claims Whitening
Halal Men’s Grooming
MARKETS OF THE FUTURE
©2015 Euromonitor International
Non-preservatives beauty and personal care
Derma-cosmetics
Natural and organic beauty and personal care
Conscious consumers seek brands with natural claims
MARKETS OF THE FUTURE
APIVITA Suncare First Aid Beauty Ultra Repair Cream Intense Hydration for
Dry Parched Skin
Himalaya Herbals Purifying Neem Face
Wash Source: Analyst’s own photos ©2015 Euromonitor International
Demand for whitening/brightening and anti-ageing benefits in skin care grows strong
MARKETS OF THE FUTURE
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South Korea
Hong Kong, China
China
Singapore
Malaysia
Japan
Thailand
Taiwan
Indonesia
Philippines
Vietnam
India
Share of total facial moisturiseres (%)
Skin Whitening Non-Skin Whitening
Skin Whitening vs Non-Skin Whitening Facial Moisturisers by
Country 2014
Pond’s Age Miracle Firm &
Lift Face & Neck Lifting Day
Cream
Nivea Sun
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Halal products gaining traction in muslim countries
MARKETS OF THE FUTURE
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Men’s grooming is expected to be a strong growth engine MARKETS OF THE FUTRE
Growing importance of appearance
Urbanisation
Higher male spending power in
Asian markets
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People Personalisation
Path To Purchase
©2015 Euromonitor International
MARKETS OF THE FUTURE
©2015 Euromonitor International
Urbanization is changing lifestyles and outlook PRODUCT ENGAGEMENT
Internet becoming an integral part of life MARKETS OF THE FUTURE
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Malaysia
Vietnam
Philippines
Singapore
Thailand
Indonesia
Social media influence innovation and marketing
Tailored innovations with specific solution-
based products
Skin Perfections
Colours to portray individuality
MARKETS OF THE FUTURE
©2015 Euromonitor International
Rising mobile penetration unlock opportunities in retail
MARKETS OF THE FUTURE
36% Of households own mobile phones
2005 2020
93% Of households own mobile phones
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CONNECTIVITY
MARKETS OF THE FUTURE
©2015 Euromonitor International
People Personalisation
Path To Purchase
©2015 Euromonitor International
MARKETS OF THE FUTURE
Moving Forward… MARKETS OF THE FUTURE
Directing Beauty
Growing Purchasing
Power
Young Population Base
Urbanization Digital Impact
Retail Network Development
©2015 Euromonitor International
International companies’ expansion strategies in Asia MARKETS OF THE FUTURE
Local collaborations
New distribution platforms
Product customisation
©2015 Euromonitor International
THANK YOU FOR YOUR TIME
CONNIE LEE
Business Development
Health and Beauty Specialist
Phone: +65 6429 0590 ext.: 6614
Email: [email protected]