Japan has just been named the leading market for skin care products. This claim comes from a new Reportlinker publication named Market Focus: Trends and Developments in the Skincare Sector in Japan.
According to the report, Japan is the biggest skin care market globally, with revenue of over $20.39bn in 2012, which is forecast to become $23.41m by 2017. Per capita consumption of skin care products in Japan is four times higher than in European countries such as Germany, France and the UK.
Japan is one of the fastest ageing developed countries and it is this demand for innovative anti-ageing products that drives skin care. Consumers over 65 accounted for 24% of the population in 2012. As the numbers grow, the importance of anti-ageing products will increase.
However, the market is not confined to older women. Young women are also a major opportunity for brands. These women, typically 30-49 years old, show increased interest in the health effects of ingredients such as parabens, phthalates and antibacterial agents, driving a demand for natural and organic skin care that is perceived as healthier and cleaner.
