INVC NEWS
New Delhi,
- There is a considerable increase in demand for skincare products in the Japanese market.
- Demand for skin care is driven by innovative solutions offered by companies and the burgeoning luxury standards of Japanese consumers.
Ken Research announced its latest publication on, “Consumer and Market Insights: Skincare in Japan, provides a detailed analysis of the Japanese skincare market. The publication examines the ongoing trends and key issues within the various categories of the Japanese Skincare market. In addition, the research also includes market data of the overall industry along with growth analysis for the forecast (2015-2020) period. Category-wise distribution and packaging data within the Japanese skincare market is also included in the publication.
The stable growth in Japanese macroeconomic environment and rapid development of its economy has led to an increase in the real purchasing power of the people. This has further resulted in the enhancement of quality of life led by the Japanese people, thereby increasing the need for more luxury products. Additionally, the Skincare products have reportedly contributed the highest in terms of value and volume in the overall lifestyle products industry. Within the Skincare market, Facial Care segment has witnessed fastest growth. But data reveals that Body Care, Depilatories and Make-up Remover are also fast catching up at a CAGR of 2.5% each during 2015-2020. Such an increase in demand has resulted in an equal reaction in supply-side as the manufacturers are facing tough competition from each other. Innovation in the formula of the product, to its impact, its packaging, its distribution and pricing is the key to attract consumers.
The Japanese Skincare market is undergoing a significant shift in trends as the consumers are more inclined towards buying natural/organic products.Therefore, there are increased opportunities for local players to gain competitive advantage. In addition, the local players also have better access to natural raw-material that can be found in Japan and further processed to create organic/natural Skincare products.
