Asia Pacific is on track to become the world’s leading innovator in the global beauty and personal care market, according to Mintel.
The global marketing intelligence agency’s latest research reveals that over one third (37 percent) of global beauty and personal care (BPC) launches with anti-ageing claims were in Asia Pacific in 2016 – up from 28 per cent in 2014.
This makes APAC the second most active region for anti-ageing BPC innovation after Europe (40 percent), according to the Mintel Global New Products Database (GPND).
In APAC, South Korea and Japan each accounted for 23 percent of anti-ageing BPC launches between 2014 and 2016, while China, Thailand and India accounted for 22 percent, seven percent and six percent respectively.
Mintel senior beauty and personal care innovation and insights analyst Sharon Kwek said Asia’s rapidly greying population (particularly in South Korea, Japan and China) was a key driver for the growth of anti-ageing innovation in Asia Pacific region.
“The region’s growing silver generation is opening up opportunities for beauty and personal care brands looking to capitalise on the ‘grey wave’,” she said.
However she points out that “the concept of ageing has infiltrated the younger population” and given rise to the “‘early anti-ageing’ trend where younger consumers are starting to use anti-ageing beauty and personal care products that act as a preventive measure against early signs of ageing”.
Indeed, research from Mintel reveals that as many as 30 percent of urban Chinese consumers aged 20-49 describe their current skin condition as showing early signs of wrinkles or lines, while 39 percent of Chinese females aged 20-24 report using anti-ageing skincare products.
“An even skin tone that’s free from age spots and wrinkles has long been considered the ‘ideal’ among many in Asia,” explains Sharon.
“It is this quest for the ‘ideal’ that is encouraging younger Asians to use skincare products to delay and combat early signs of ageing.
“Younger consumers are increasing their use of anti-ageing products and brands can successfully appeal to this target market by offering anti-ageing solutions that address the lifestyle and environmental stressors to which they are commonly exposed.”