According to SPER Market Research, the Philippines Beauty Care Products Market is estimated to reach USD 6.54 billion by 2032 with a CAGR of 5.01%. Beauty care products include any cosmetic or personal care items that people use to enhance their appearance, maintain personal hygiene, and promote good health. These products are used to improve the look and feel of skin, hair, and nails while also protecting and promoting their health. Beauty care products are created to address a wide range of needs, including skin types, hair types, and personal preferences. They are available in creams, gels, lotions, sprays, powders, and liquids, and can be used on a daily or occasional basis, depending on the product’s purpose. Moisturizers, cleansers, and sunscreens; shampoo, conditioner, and hair styling products; foundation, mascara, and lipstick; and deodorant, toothpaste, and soap are all examples of beauty care products.
Philippines Beauty Care Products Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 5.01%
- Forecast Market Size (2032): 6.54 billion
The Philippines’ beauty care products market has expanded steadily. Skincare products dominate the market, accounting for the majority of sales, followed by hair care and colour cosmetics. Natural and organic beauty products are gaining popularity in the Philippines.
Impact of COVID-19 on the Philippines Beauty Care Products Market
The COVID-19 pandemic has had a significant impact on the beauty care products market in the Philippines. As a result of the implementation of lockdowns and social distancing measures, many consumers reduced their spending on non-essential items, including beauty products. This resulted in a drop in industry sales and revenue, particularly in the early stages of the pandemic. The shift towards online shopping and e-commerce platforms has also had an impact on the beauty care products market in the Philippines. As consumers increasingly turned to online shopping during the pandemic, brands and retailers had to adapt and expand their digital presence to meet the rising demand. However, as the pandemic progressed, consumers’ focus on health and wellness grew, resulting in an increase in demand for skin health and hygiene products. Sales of hand sanitizers, hand soaps, and other hygiene-related products increased as a result.
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Philippines Beauty Care Products Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type:
- Skin Care
- Hair Care
- Color Cosmetics
By End Use:
By Distribution Channels:
- Specialty Stores
- Convenience Stores
- Online Stores
- Central Region
- Southern Region
- Northern Region
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
Philippines Beauty Care Products Market Key Players:
The Philippines Beauty Care Products Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; L’Oreal, Shiseido Company Limited, Coty Inc., Estee Lauder Companies Inc., Unilever, Beiresdorf AG, Olay, Kao Corporation, Johnson & Johnson services Inc.
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