The Japan cosmetics market size is projected to expand at a substantial CAGR during the forecast period 2021-2028. The growth of the market is attributed to increasing female population, rising demand for organic cosmetics, increasing number of social media users, increasing urbanization, and high brand recognition among young consumers.
Cosmetics are intended to be used or applied to improve a person's attractiveness and physical appearance. Cosmetic products are primarily made from synthetic materials. Cosmetic firms are partnering with e-commerce enterprises in order to reach the widest possible audience and expand their client base. Aside from that, prominent companies in the cosmetics industry are focusing on novel marketing techniques to raise customer knowledge of the new products. Furthermore, due to growing consumer knowledge of the negative consequences of synthetic chemicals, demand for organic cosmetics has been expanding at a rapid rate in industrialized nations. Consumer demand for more utility and environment friendliness in cosmetic design has resulted in interesting cosmetic packaging and design advancements.
The Covid-19 pandemic affected the demand and supply of Japan cosmetics market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing female population and a rising demand for organic cosmetics are expected to fuel the market during forecast period.
- Rapid urbanization is key factor propelling the market in the coming years.
- Risk of skin sensitivities and environmental concerns are estimated to restrict the market growth.
- Stringent laws governing the marketing of organic cosmetics act as major challenge that can impede the market expansion in the coming years.
- Increasing online penetration of beauty and personal care products and the occurrence of cosmetic fairs and exhibitions are anticipated to create significant opportunities for the market players.
Key Players
- Shiseido company
- Mandom Corporation
- Loreal
- Procter and Gamble
- Unilever
- Others
Competitive Landscape
The major players in the Japan cosmetics market include Shiseido company, Mandom Corporation, Loreal, Procter and Gamble, Unilever and others.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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