Market Challenges And Opportunities

Restaints

Recalls of facial care products
Side effects of facial care products on environment

Increasing strategies like partnerships by key market players

Increasing strategies like partnerships by key market players is expected to drive the Asia Pacific facial care market growth over the forecast period. For instance, on March 3, 2021, Coty Inc., a U.S. based multinational beauty company announced it has signed a letter of intent to partner with LanzaTech, a U.S.- based carbon recycling technology global leader to introduce sustainable ethanol made from captured-carbon emissions into its fragrance products. The proposed partnership means that Coty Inc. will incorporate this carbon-captured ethanol into its fragrance manufacturing process, with the goal of having the majority of its fragrance portfolio using ethanol sourced from carbon-capture by 2023.

Increasing launches of new products for facial care

Increasing launch of new products for facial care is expected to drive the Asia Pacific facial care market growth. For instance, on June 1, 2022, Shiseido Co., Ltd., a Japan based cosmetics group, launched a new men’s skincare brand called Sidekick. The line, featuring four products and eight inventory items, is aimed at the Asian market, chiefly targeting Gen Z consumers. The Sidekick range combines natural ingredients and advanced cosmetics research to address issues like dry or oily skin, but it also helps boost the skin's moisture barrier function by creating a more resistant skin environment. The line consists of a face cleanser, a lotion, a moisturizer and a fabric mask.