According to the Wall Street Journal, Western skin care is reaching into South Korea and China. This is due, in part, to the expectation that the Asia-Pacific region will comprise nearly half of global sales in 2015, up from 44% in 2009, reports Euromonitor International.
However, not only could Asia’s growing middle class, with its disposable income, drive growth; the region is driving new innovations, especially in skin care. For example, Asian women’s skin care routines include as many as 10 steps, compared with three or four steps in Western regimes, offering new steps, each with growth potential.
Japan has already impacted the global skin market, with brands including Shiseido popularizing ingredients such as collagen and products such as facial serums. South Korea is also leading innovation with its product development speed and creativity, according to Jacques Challes, chief innovation officer at L’Oréal SA, in the Wall Street Journal report. Analysts highlight cushion compacts as the most significant Korean-inspired products to appear in the West since BB creams.
A separate report, by Euromonitor's Nicole Tyrimou, adds that growing niche, Asian-led innovations are electronic devices, facial masks and cruelty-free products.