Philippines Beauty & Personal Care Market Analysis and Global Forecast 2023-2033

Philippines Beauty & Personal Care Market Overview

The Philippines Beauty & Personal Care Market Size is expected to reach USD 12.68 Billion by 2033. The Philippines Beauty & Personal Care Market industry size accounted for USD 4.98 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 0.72% from 2023 to 2033. 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.

Global Philippines Beauty & Personal Care Market Synopsis

COVID-19 Impact Analysis

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.

Philippines Beauty & Personal Care Market Dynamics

The major factors that have impacted the growth of Philippines Beauty & Personal Care Market are as follows:

Drivers:

Ø  Influence of Social Media and Celebrities

Social media platforms and beauty influencers have a significant impact on consumer behaviour, promoting trends and products that increase market demand. Celebrities and local influencers play a crucial role in shaping beauty standards and influencing purchasing decisions. Growing awareness about personal hygiene and skincare drives demand for products that promote health and wellness. Educational campaigns and awareness programs highlight the importance of skincare routines and hygiene, boosting product adoption. Increasing consumer preference for natural and organic ingredients has led to a rise in demand for eco-friendly and sustainable beauty products.

Restraint:

• Perception of Price Sensitivity and Cultural Preferences

Many consumers in the Philippines are price-sensitive, which can limit the market potential for premium and high-end beauty products. Intense competition among brands can lead to price wars, affecting profit margins. Local cultural preferences and beauty standards may limit the acceptance of certain international products and trends. Brands need to tailor their offerings to align with local tastes and preferences.

Opportunity:

⮚     Growing demand for E-commerce Expansion

The rise of online shopping and digital platforms provides opportunities for brands to reach a broader audience, particularly in remote areas where physical stores are limited. Investing in digital marketing, social media engagement, and online sales channels can enhance brand visibility and accessibility. Offering personalized beauty solutions, such as customized skincare routines or tailor-made cosmetic products, can cater to individual needs and preferences. Advances in technology, such as AI and data analytics, enable brands to create personalized experiences and products.

Philippines Beauty & Personal Care Market Segment Overview

By Nature

Based on Nature, the market is segmented based on Organic, Synthetic and Others. The Synthetic segment dominant the market. Continuous research and development lead to the creation of new synthetic ingredients with improved properties and functionalities. Synthetic products often offer a more accessible price point compared to their natural counterparts and Synthetic products often offer a lower price point, making them accessible to a wider consumer base.

By Gender

Based on Gender, the market segment has been divided into Male and Female. The Female segment dominant the market. Women typically spend more on beauty and personal care products compared to men. Women are more likely to follow beauty trends and adopt new products and social media platforms play a significant role in shaping beauty trends and influencing purchase decisions.

By Type

Based on Type, the market segment has been divided into Skin Care, Hair Care, Toiletries, Fragrances, Color Cosmetics and Others. The Skin Care segment dominant the market. There’s a rising trend towards skincare products containing natural extracts and botanicals. The market is dynamic, with consumers seeking solutions for various skin concerns such as acne, aging, and hyperpigmentation.

By Sales Channel

Based on Sales Channel, the market segment has been divided into Online Stores, Convenience, B2B, Specialty Stores, Supermarket and Others. The Supermarket segment dominant the market. They offer a diverse range of beauty and personal care products, from basic essentials to premium brands. Supermarkets often offer competitive prices, attracting budget-conscious consumers. Supermarkets have limited shelf space for beauty and personal care products.

Competitive Landscape

The Philippines Beauty & Personal Care Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• Johnson & Johnson (Philippines) Inc
• Shiseido Group
• Coty Inc
• Estée Lauder
• Unilever
• Beiersdorf
• Procter & Gamble
• Pilipinas Kao Inc. (PKI) (Kao Corporation)
• LVMH
• Colgate-Palmolive Company

Scope of the Report

Philippines Beauty & Personal Care Market, by Nature

• Organic
• Synthetic
• Others

Philippines Beauty & Personal Care Market, by Gender

• Male
• Female

Philippines Beauty & Personal Care Market, by Type

• Skin Care
• Hair Care
• Toiletries
• Fragrances
• Color Cosmetics
• Others

Philippines Beauty & Personal Care Market, by Sales Channel

• Online Stores
• Convenience
• B2B
• Specialty Stores
• Supermarket
• Others

Parameters	Indicators
Market Size	2033: USD 12.68 Billion
CAGR (2023-2033)	0.72%
Base year	2022
Forecast Period	2023-2033
Historical Data	2021 (2017 to 2020 On Demand)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Nature, Gender, Type, Sales Channel
Geographies Covered	North America, Europe, Asia-Pacific, South America, Middle East, Africa
Key Vendors	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.
Key Market Opportunities	·       The growing demand for E-commerce Expansion ·       Personalized and Customizable Products
Key Market Drivers	·       Influence of Social Media and Celebrities ·       Increased Awareness of Personal Care

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Philippines Beauty & Personal Care Market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Philippines Beauty & Personal Care Market historical market size for the year 2021, and forecast from 2023 to 2033
• Philippines Beauty & Personal Care Market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Philippines Beauty & Personal Care Market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.