It’s a good time to be a beauty-holic, specifically one who’s based in Asia. Following a solid recovery since the height of the pandemic, the Asian beauty scene has emerged as one of the fastest-growing markets globally, and is forecast to remain so in the succeeding years, according to a study by global consulting firm McKinsey & Company. In fact, the Asia Pacific region alone (excluding China) is estimated to reach US$151 billion in retail sales by 2027, from approximately US$110 billion in 2022. That’s a lot of beauty products.
Not that we’re surprised. With a deep-rooted culture of self-care and wellness traditions, countries like South Korea, Japan, and China have long been invested in the pursuit of beauty—from achieving flawless skin using the most unique, natural ingredients to reinventing one’s looks with innovative color cosmetics. Technology and social media have also played a pivotal role in propelling Asian beauty onto the global stage, allowing it to go neck-to-neck with the U.S. market.
But what’s driving Asia’s current beauty boom, exactly? Find out what’s in, what’s out, and what to expect in the beauty landscape in this part of the world.
China
A long-standing beauty force, China remains a major industry player and is expected to account for around one-sixth of the global beauty retail sales by 2027. The biggest growth is expected to come out of the skincare category, largely brought about by the emergence of Chinese “skintellectuals” looking to spend on premium brands and ingredients—that is, after a pandemic-induced period focused on health and wellness.
This has spurred the rise of the trending “noble lady” skincare category, with local consumers seeking top-of-the-line products, such as those from golden skincare brands La Mer, La Prairie, and Clé de Peau, in a bid to become “bai fu mei” (white, rich, and beautiful). What’s surprising: It’s not really the older, affluent market fueling this; millennials and Gen Zs are leading the pack of power buyers, choosing self-care over adhering to societal marriage norms.
They’re not just buying the basics, too. These days, it’s typical for a Chinese consumer to have nine steps in her daily routine, investing in serums, essences, and ampoules, and seeking benefits such as sun protection, whitening, skin rejuvenation, and anti-aging. And while Western products—as well as those from neighboring beauty capitals, Japan and Korea—dominate in market share, local brands like Winona, Proya, Chando, and Pechoin are gaining ground, tapping into their Traditional Chinese Medicine roots and focusing on science-backed efficacy. “Consumers will continue to move toward clinical brands founded by doctors and chemists,” Carol Zhou, SVP China Business Innovation and Investments at Shiseido, tells Chinese luxury publication Jing Daily.
More C-Beauty trends to watch:
- Chinese fragrances on the rise
- Male category explosion
- Aesthetic medicine for skin enhancement
Korea
The birthplace of BB creams, CC creams, sleeping packs, and all things K-beauty, South Korea has the eighth largest cosmetics and personal care market in the world despite having the smallest population among the world’s top 10 markets at 50 million, according to Euromonitor. It’s also the world’s third largest exporter of cosmetics, following France and the U.S.
But even though the pandemic lockdowns saw the temporary collapse of Seoul’s famed beauty mecca, the Myeong-dong shopping street, the comeback is real: The popular tourist spot started regaining traction during the last quarter of 2022 and is back to its bustling glory.
Major conglomerates such as Amorepacific and LG Household and Health Care are currently leading the cosmetics scene, while smaller-scale companies are also emerging. H&B (health and beauty) outlets and multi-brand stores, like Olive Young and Sephora, are rising as the leaders in offline sales, overtaking stand-alone brand shops like Innisfree and The Face Shop. And then there’s the continuous boom of online beauty, with big e-commerce platform providers, such as Coupang (Korea’s version of Amazon), serving as major driving forces.
But what are K-beauty enthusiasts buying into now? In the skincare realm, “clean beauty” is a top beauty buzzword, with younger consumers fueling the demand for natural ingredients and better sustainability. Most-searched skincare ingredients include hyaluronic acid, collagen, ceramide, and probiotics. In the makeup arena, caramel blush, juicy plump lips, messy feathered brows, and clumpy lashes are all the rage, paired with baby smooth skin—think more velvety matte, less glazed donut. As far as TikTok trends go, the makeup spatula is currently the “It” tool, having been adopted by masses in their foundation application technique.
More K-Beauty trends to watch:
- K-Pop aesthetic
- Skin flooding (a.k.a. flooding with hydration)
- Eco-friendly formulas and packaging
Philippines
In case our obsession with pageants isn’t enough of a clue, the Philippines is a big beauty market—consuming everything from Western and European labels to Asian brands. And while the COVID-19 pandemic greatly affected retail sales in shops and malls, the country’s high internet penetration rate dramatically fueled the e-commerce scene, making the PH one of the fastest-growing e-commerce markets across the globe. These days, online platforms, such as Shopee and Lazada, continue to serve as major shopping channels for Pinoy beauty obsessives.
Across segments, personal care contributes to the highest share of revenue—a testament to Filipinos’ proclivity for hygiene. Skincare comes next, a hot industry made extra fiery by the arrival of cult-favorite global names like Drunk Elephant and Paula’s Choice. Japanese and Korean brands, meanwhile, make up most of our beauty product imports, with J- and K-beauty trends heavily influencing the local skincare and makeup scene.
Case in point: “Happy Skin recently launched the first local K-inspired cushion blush, while blk cosmetics joined the party with an airy cushion foundation made for Pinoy skin,” says Jacqe Yuengtian-Gutierrez, renowned Filipino beauty trailblazer and CEO of both brands. She also attributes the current lip tint craze to our Asian neighbors, adding that the trend has fueled local innovation. Moreover, the country’s massive brow category is headlined by products made for achieving natural-looking, Asian-style arches.
That said, it can’t be denied that F-beauty is thriving, with brands like Happy Skin, blk cosmetics, Colourette Cosmetics, and Sunnies Face gaining much attention—and market share—especially among Gen Z consumers.
More F-Beauty trends to watch:
- Clean beauty
- Hybrid products
- Anti-aging injectables, like Profhilo
Japan
Known for being sophisticated, ultra-discerning, and well-educated about ingredients and technology, the Japanese consumer values high-quality products—and this is evident in their flourishing beauty and personal care market, led by the skincare segment. And while the archetypal geisha look may be a thing of the past, the nation’s passion for having clear, white skin still rings true today, with the modern ideal dubbed as “translucent skin.”
They’re not all about aesthetics, too; J-beauty is big on skin health—more so after the COVID-19 crisis. Cheryl Tan Chua, President of BeautyBox Corp., the Philippine distributor of Japanese cosmetic and personal care brands (e.g. Cure, Kracie, and K-Palette), shares that anti-aging ingredients such as “Vitamin C, retinol, and bakuchiol” are currently very popular among Japanese skinfluencers and skin-thusiasts.
When it comes to cosmetics, the ‘no makeup makeup’ look appears to be taking a backseat as consumers embrace a bolder and more colorful range of products—particularly for the brows and lashes. “The mask-wearing trend brought about by the pandemic has pushed Japanese to be more creative and put color on the exposed parts of the face, which are the brows and the eyes,” says Cheryl.
Additionally, the men’s cosmetic category is seeing notable growth, largely fuelled by the K-pop wave. South Korean brands like TIRTIR and VT (which recently did a collaboration with the ultra-famous BTS), are widely popular among Japanese consumers.
More J-Beauty trends to watch:
- Niacinamide for whitening and anti-aging
- AI-powered beauty technology
- CBD (Cannabidiol) as a beauty ingredient
