Thailand
Men’s cosmetics taking off in Asia
Covid-19 has dealt a blow to the US$500-billion cosmetics industry as fewer people feel the need to dress up while stuck at home. Men’s cosmetics, however, is an outlier with sales surging since the pandemic began — in part due to men wanting to look presentable for the now-ubiquitous Zoom calls.
As life begins to return to normal, cosmetics companies see Asia as the key to gaining a foothold in this rapidly growing market.
Changing attitudes toward male cosmetics over the past decade have been driven by a number of factors, especially the staggering rise of social media. Presentation is everything, regardless of whether an influencer has five followers or 5 million, and cosmetics are key.
Many of the most-followed male grooming influencers on Asian social media not only wear makeup, their channels teach people how to apply it themselves at home.
Younger consumers in Asia — especially Gen Z and Millennials — are more likely to see male cosmetics as just another aesthetic tool, with little regard for the traditional view that makeup is only for women.
Increasing awareness of the benefits of skin care and the ease with which consumers can research and order beauty products online are key drivers of the increasing numbers of men jumping on board the cosmetics bandwagon.
More men in Southeast Asia are following this trend too, with the men’s cosmetics industry in the region forecast to grow by an average of 8.4% a year from 2020–26.
Last month L’Oreal named Singapore as the base for a newly created zone dubbed Sapmena — South Asia-Pacific, Middle East and North Africa. Sapmena covers 35 markets and will drive much of the company’s revenue over the next decade, a large part of which will come from men’s cosmetics. More than 40% of the consumers in the region are under 25 — a prime demographic for L’Oreal to reach.
Japan, South Korea and Thailand have long been Asia’s largest markets for male cosmetics. Recent research shows that roughly a third of men aged 25-34 in Thailand have bought foundation or lipstick in the past 12 months.
In South Korea, known for its prevalence of well-groomed music idols and where great importance is placed on how you present yourself, men see makeup as an easy way to build confidence in public.
However, China is catching up fast as well-funded startups fight to gain a foothold in a market dominated by giants such as L’Oreal, Beiersdorf and Shiseido. The men’s beauty market in China grew by 13.5% a year from 2016-19, according to Euromonitor, far higher than the 5.8% global average.
Ten new male beauty brands were launched last year in China, where the men’s facial skincare segment alone is expected to grow 50% by 2025 to $2.9 billion, as major investment firms diversify their bets across numerous young brands.
Brands are paying close attention to these developments. Influencers and stars with large online followings are being hired as brand ambassadors to help drive sales, which in turn drive broader social acceptance.
Most men say that they simply want to look good and feel confident when they go outside. Women have felt this way for centuries, and men are finally starting to catch on.
Source: https://www.bangkokpost.com/business/2116899/mens-cosmetics-taking-off-in-asia