AMR: Philippines Beauty & Personal Care Market to Reach ₱240 Billion Php by 2026

Philippines Beauty & Personal Care Market to Reach $4.7 Billion by 2026: AMR
Philippine Made Beauty Products Market to reach ₱240 Billion Php  in 2026 image: Project Vanity

Increase in young population, influence of social media, and rise in number of local beauty brands drive the growth of the Philippines beauty & personal care market. The skin care segment contributed the highest share in 2018, and will maintain its dominance throughout the forecast period.The revenue from beauty products in Philippines has taken a huge plunge due to the restrictions on sales channels and supply chain.
Philippines Beauty & Personal Care Market to Reach $4.7 Billion by 2026: AMR

Portland,OR, July 06, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the Philippines beauty & personal care market generated $3.3 billion in 2018, and is estimated to reach $4.7 billion by 2026, registering a CAGR of 4.8% from 2019 to 2026.The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

Increase in young population, influence of social media, and rise in number of local beauty brandsdrive the growth of the Philippines beauty & personal care market. However, availability of alternatives may hinder the market growth. On the other hand, rise in adoption of online platforms and increase in demand for natural beauty products create new opportunities in the coming years.

Download Sample Copy of Report@ https://www.alliedmarketresearch.com/request-sample/6493

Covid-19 scenario:

    * During the coronavirus pandemic,the Food and Drug Administration of the Philippines issued guidelines in which it was mentioned that the labors should utilize hand sanitizers during the labeling of beauty products.
    * However, the revenue from beauty products in Philippines has taken a huge plunge due to the restrictions on sales channels and supply chain.

The report offers a detailed segmentation of the Philippines beauty & personal care market based on product type, nature, gender, end user, and distribution channel.

Based on product type, the skin care segment contributed to the largest share in 2018, accounting for more than one-third of the total share, and is estimated to maintain its dominant position during the forecast period. However, the color cosmetics segment is expected to register the highest CAGR of 6.3% from 2019 to 2026.

Based on gender, the female segment accounted for the largest share in 2018, holding more than two-thirds of the total share, and is expected to maintain the largest share throughout the forecast period. However, the male segment is estimated to portray the highest CAGR of 5.3% during the forecast period.

Based on nature, the synthetic segment contributed the highest share, accounting for more than half of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, the organic segment is expected to grow at the highest CAGR of 6.1% from 2019 to 2026.

Leading market players analyzed in the research include L’Oréal, Coty Inc., Shiseido Company Limited, Estée Lauder Companies Inc., Beiersdorf AG, Unilever, Kao Corporation, Olay, LVMH, and Johnson & Johnson services, Inc. - GlobeNewswire / Allied Market Research
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