Malaysian Skincare Products Market to Grow by 2027 to Exceed $1,288.7 Million – L’Oréal Group, Unilever PLC

Malaysian skin – report

Based on age group, the millennial segment shows the highest CAGR of 9.5% from 2021 to 2027.

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Oct. 29, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Malaysia Skin Care Products Market by Type, Technique and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2027”, Malaysia skin care products market size was valued at USD 804.5 million in 2019 and is projected to reach USD 1,288.7 million by 2027, registering a CAGR of 8.1% from 2021 to 2027.

This is especially true for skincare products targeting healthcare professional channels such as dermatologists and plastic surgeons. In Malaysia, the majority of products are sold through spas and salons, retail stores and multi-level direct marketing/sales channels. Oil-free, shine-free and anti-blemish moisturizers are in high demand. This is attributed to the fact that product formulations that provide a matte/silky, non-sticky, powdery finish work well in a hot and humid tropical country like Malaysia. Rising concerns about pigmentation, darkening of skin tone and skin cancer among the Malaysian population has boosted the demand for sunscreen which, in turn, is contributing to the overall growth of skincare products market skin in Malaysia.

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Social media has helped major brands operating in the country to raise awareness about skincare and beauty products, especially among millennials. In addition, beauty bloggers and social media influencers are creating new Growth avenues for Malaysia Skin Care Products Market Analysis. A large number of local YouTubers are now hosting popular channels with demo product reviews and tutorials, further propelling the Malaysian skin care products market opportunity.

The popular mass-market brands available in the market are mostly from the United States, including Cover Girl, Maybelline, and L’Oreal. On the contrary, the popular higher priced color cosmetic brands available in the market are from Estee Lauder, Moet Hennessy Louis Vuitton and Chanel companies.

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The Malaysian skin care products market is studied on the basis of product type, demographics, age group, and sales channel. By product type, the market is categorized into cream, lotion, and others. By demography, it is bifurcated into male and female. According to age group, it is fragmented into generation X, millennial and generation Z. According to sales channel, it is categorized into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharmacies and pharmacies and sales channel on line.

Main results of the study

By type, the creams segment has been the largest contributor to the skin care products market in Malaysia and is expected to grow at a CAGR of 7.5% from 2021 to 2027.
In terms of demographics, the female segment was the largest contributor to the market by value in 2019 and is expected to grow at a CAGR of 7.3% from 2021 to 2027.
Based on age group, the millennial segment shows the highest CAGR of 9.5% from 2021 to 2027.
The supermarket and hypermarket segment accounted for 33.04% of the total skin care products market share in Malaysia in 2017 and is expected to grow at a CAGR of 6.5%.

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Key players:

The major players operating in the Malaysian skin care products industry are L’Oreal Group, 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, local players are continuously increasing their presence in the country, owing to the increase in demand for Halal certified consumer products and the increase in demand for skin care formulated from natural sources.

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Thailand skin care products market
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David Correa
Allied Analytics LLP
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