Indonesia Skin Care Products Market Innovations & Growth Analysis, Key Market Segments, and Competitive Landscape

Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, September 27, 2022 / -- According to the report published by Allied Market Research, the Indonesia skin care products market generated$9.10 billion in 2018, and is projected reach $18.82 billion by 2030, registering a CAGR of 7.8% from 2021 to 2030.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Increase in consciousness about appearance, personal well-being, and grooming among people, rise in the exposure with international skin care brands and cosmetics, and surge in the women population are expected to drive the growth of the global Indonesia skin care products market. On the other hand, irritations and inflammations caused by overuse of cosmetic products are expected to hinder the growth to some extent. However, significant upsurge in the adoption of naturally-derived skin care products is expected to create ample opportunities for the growth of the industry.

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In 2017, Indonesia recorded 25% rise in registration of local cosmetic companies, majorly the small- and medium-scale enterprises, owing to the government support for the growth of the Indonesia skin care products industry. Hence, currently the total industries are more then 76,095, which are small and medium enterprises. Furthermore, the government is focusing on this industry as evidenced in the President Direction (Indonesian: Perpres) No. 14 Year 2015 about National Development Core Planning Year 2015-2035 in which cosmetic and traditional medicine industries are becoming diversified national economic backbones. Despite various promotional and marketing efforts by domestic brands in years, global brands, be it locally manufactured or imported, still dominate skin care products sales in Indonesia. The superiority of such brands is difficult to break as skin care products have specific target customers and they tend to be loyal to a particular brand.

They cannot easily switch to other products even if the competitors provide equal or better quality. The nation has 12–15% out of the entire population in the middle-to-high income range. These consumers, who predominantly reside in large cities, can afford to buy high-end imported products. For this specific group, quality, brand image, and being top-of-trends are among the major aspects considered while purchasing skin care products. Statistic wise, Indonesia has witnessed rapid growth of shopping malls over last 10 years. In the capital Jakarta alone, more than 100 shopping centers have been registered. More than 10% of them are intended for high-end or luxury imported products. This is anticipated to presents remunerative opportunities for European brands, which are regarded as expensive but come with top-notch quality, and are hence highly desirable. Rise in women population in the country coupled with higher inclination toward naturally derived skin care products are further anticipated to boost the Indonesia skin care products market opportunity during Indonesia skin care products market forecast period.

The key players operating in the Indonesia skin care products market are the Beiersdorf AG, Estee Lauder Companies Inc., Groupe Rocher, L'Oréal Group, Procter and Gamble Company, PT Kino Indonesia Tbk, PT Mandom Indonesia Tbk, PT Martina Berto Tbk, PT Paragon Technology and Innovation and Unilever Indonesia.

Halal regulations in particular have been providing new opportunities for the Indonesia skin care products market. Not only giving the local brand a competitive edge over global brands in the domestic market, Halal regulations further allow local based halal-certified cosmetic manufacturers establish their presence in overseas niche market too. For instance, the French cosmetics giant L’Oréal in Indonesia already has a halal-certified factory, which supplies the domestic market and the Southeast Asia region. Most of the products are sold under the Garnier brand, including facial cleansers to halal-approved skin lightening creams.

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Key findings of the study

By type, the face care segment dominated the market in 2018 and is likely to remain dominant during the forecast period.
By demographics, male segment is anticipated to fastest growing segment during the forecast period.
By age group, generation X segment dominated the market in 2018 and is likely to remain dominant during the forecast period.

Reason to Buy:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Indonesia Skin Care Products Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Indonesia Skin Care Products Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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David Correa
Allied Analytics LLP
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