Philippines Beauty Market: 0.72% CAGR Expected
Evolve Business Intelligence has published a research report on the Philippines Beauty & Personal Care Market, 2023–2033. The Philippines Beauty & Personal Care Market is projected to exhibit a CAGR of around 0.72% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the Philippines Beauty & Personal Care Market: Johnson & Johnson (Philippines) Inc, Shiseido Group, Coty Inc, Estee Lauder, Unilever, Beiersdorf, Procter & Gamble, Pilipinas Kao Inc. (PKI) (Kao Corporation), LVMH and Colgate-Palmolive Company.
More Information: https://evolvebi.com/report/philippines-beauty-personal-care-market-analysis/
Market Highlights
The Philippines Beauty & Personal Care Market is projected to be valued at USD 12.68 Billion by 2033, recording a CAGR of around 0.72% during the forecast period. The Philippines Beauty & Personal Care Market encompasses the production, distribution, and sale of products aimed at enhancing personal appearance and hygiene. This market includes a wide range of products, such as skincare, haircare, cosmetics, fragrances, and personal hygiene products.
The Philippines Beauty & Personal Care Market is a dynamic and rapidly growing sector, driven by changing consumer preferences and an increasing focus on personal grooming and wellness. Understanding consumer preferences, leveraging digital platforms, and addressing challenges such as counterfeits are key to success in this market.
The COVID-19 pandemic significantly impacted the Philippines Beauty & Personal Care Market. With more people staying at home, there was a shift towards skincare products as consumers focused on self-care routines. Sales of makeup products like lipsticks and foundations declined as people wore masks and participated in fewer social events. Restrictions on physical retail stores and consumer preference for contactless shopping led to a significant increase in online sales. Many brands enhanced their digital presence and e-commerce capabilities. The role of social media and digital influencers became more pronounced in driving online sales and brand engagement. Lockdowns and restrictions impacted the supply chain, leading to delays in product availability and distribution. The pandemic accelerated the trend towards sustainable and clean beauty products, with consumers becoming more conscious of ingredient safety and environmental impact. The emphasis on health and wellness is likely to continue, influencing product development and marketing strategies.
More Information: https://evolvebi.com/report/philippines-beauty-personal-care-market-analysis/
Segmental Analysis
The Philippines Beauty & Personal Care Market has been segmented based on Nature, Gender, Type and Sales Channel.
Based on Nature, the Philippines Beauty & Personal Care Market is segmented into Organic, Synthetic and Others. The Synthetic segment is anticipated to dominate the market.
Based on Gender, the Philippines Beauty & Personal Care Market has been divided into the Male and Female. The Female segment is anticipated to dominate the market.
Based on Type, the Philippines Beauty & Personal Care Market has been divided into the Skin Care, Hair Care, Toiletries, Fragrances, Color Cosmetics and Others. The Skin Care segment is anticipated to dominate the market.
Based on Sales Channel, the Philippines Beauty & Personal Care Market has been divided into the Online Stores, Convenience, B2B, Specialty Stores, Supermarket and Others. The Supermarket segment is anticipated to dominate the market.