GlobalData forecasts Philippines’ skin-care market to rise at CAGR of 7.7% to US$1.5B by 2026; pandemic has stoked consumer interest in natural/sustainable cosmetics and personal care products, lending momentum to ‘clean’ beauty trend

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July 11, 2022 (press release) –

The COVID-19 pandemic has stoked consumer interest in natural and sustainable cosmetics and personal care products in the Philippines, thereby lending momentum to a trend for ‘clean’ beauty products, says GlobalData. The leading data and analytics company notes that this trend will drive the projected growth of the Philippines’ skincare market from PHP51.8 billion ($1.1 billion) in 2021 to PHP74.8 billion ($1.5 billion) by 2026, at a compound annual growth rate (CAGR) of 7.7%.

GlobalData’s latest report, ‘Philippines Skincare Market Size by Categories, Distribution Channel, Market Share and Forecast, 2021-2026’, reveals that the market will be primarily driven by the make-up remover category, with the overall fastest value CAGR of 7.8% during the 2021-2026 period, followed by facial care with a projected CAGR of 7.7%. Other key categories include hand care, depilatories and body care.

As COVID-19 restrictions ease and people begin venturing out for work and social activities, consumers are naturally paying more attention to their personal appearance with ‘clean’ beauty products trending on social media and proving popular. These products are formulated with a simpler ingredients list, are quick and easy to use, and serve a multipurpose such as beauty facemasks, blushers, and highlighters.

Likitha Nalluri, Consumer Analyst at GlobalData, comments: “Consumers are seeking effective and convenient methods to rejuvenate their skin without using multistep skincare regimens, which is why multipurpose products with high quality and more natural ingredients are growing in popularity.”

Per capita expenditure (PCE) of skincare in the Philippines increased from $4 in 2016 to $4.6 in 2021, which was lower than the global average of $9.8, and the regional average of $9.2 in 2021 due to the lower consumer spending power of the developing economy. By 2026, the PCE on skincare in the Philippines is expected to increase by a third to reach $6.1, according to GlobalData.

Convenience stores were the leading distribution channel in the Philippines’ skincare market in 2021, followed by hypermarkets & supermarkets, direct sellers, health & beauty stores, chemists and pharmacies, para pharmacies and drugstores. Unilever, Procter & Gamble, and Natura & Co were the top three companies in the Philippines’ skincare market by value in 2021, and Pond’s and Olay​ were the leading brands.

Nalluri concludes: “The resurgence of household disposable incomes, consumer confidence, and the return to offices will boost demand for skincare products in the Philippines. The ‘clean’ beauty trend will continue gaining momentum, thereby spurring the launch of more natural and sustainable skincare products.”

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