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Market Focus: Trends and Developments in the Skincare Sector in Japan

Japan skincare market: $23.4 billion industry forecast by 2017


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2014-04-03 21:07:01 - Market Focus: Trends and Developments in the Skincare Sector in Japan - a new market research report on companiesandmarkets.com

The Japanese cosmetics market is the second largest in the world. Japan is the biggest Skincare market globally, with revenue of over US$20,387.1 million in 2012 which is forecast to become US$23,413.5 million by 2017.

Japan is one of the fastest aging nations among developed countries. Consumers above the age of 65 accounted for 24% of the population in 2012, while children aged 14 and under made up only 13% of the population. Consumer Packaged Goods companies are increasingly tapping into the lucrative "grey" market with a range of products targeting the elderly population.

Japan´s aging population means the importance of anti-aging products will increase. However, this market isn´t confined just to older women; a significant opportunity is developing among young adult

 

 

women, who are adopting a "preventative" anti-aging skincare regime in order to prevent premature aging and enjoy better skin later in life.

Therapeutic Skincare brands like Mentholatum Acnes Creamy Wash and Yu-Be Moisturizing Cream are becoming increasingly popular in the traditional market of consumers who have problem skin, and are positioning themselves to compete against mainstream skincare brands.

Japanese consumers are looking for increasingly effective skincare products. In particular, sun-protection claims are being used to boost sales of prestige skincare brands. Whether it is health concerns or because of the links between over-exposure to the sun and prematurely aged-skin, the intensified focus on sun protection offers an opportunity for marketers to offer value-added products.

The growing presence of digital consumers and the provision of services such as online consultations has boosted sales through eRetailers, who in 2012 accounted for 7% of the Skincare market.

Innovation in anti-aging is the main factor driving growth within the Skincare market. The importance of anti-aging will be driven by the large number of 30-49 year olds in Japan, who account for 26.9% of the population.

Increased interest in the potential health effects of ingredients such as parabens, phthalates, and anti-bacterial agents is driving demand for "natural" and organic Skincare products, which are often perceived to be better for you as consumers believe their ingredients to be less processed.

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