‘Clean’ beauty drives Philippines’ skincare market: report

The market could reach $1.5b by 2026.

“Clean” beauty products, such as those used to remove make-up, are expected to drive the skincare market in the Philippines, GlobalData reported.

The skincare market is projected to grow at an annual rate of 7.7% to reach $1.5b by 2026 from the current $1.1b in 2021.

The make-up remover category will mainly drive this growth, followed by facial care, and other categories, such as hand care, depilatories and body care.

“Consumers are seeking effective and convenient methods to rejuvenate their skin without using multistep skincare regimens, which is why multipurpose products with high quality and more natural ingredients are growing in popularity,” Likitha Nalluri, Consumer Analyst at GlobalData, said.

According to GlobalData, the per capita expenditure of skincare amongst Filipinos increased to $4.6 in 2021 from $4 in 2016.

This is lower than the global average of $9.8, and the regional average of $9.2 in 2021; but the per capita expenditure on skincare in the market will likely rise to $6.1 by 2026.

“The resurgence of household disposable incomes, consumer confidence, and the return to offices will boost demand for skincare products in the Philippines,” Nalluri said.

“The ‘clean’ beauty trend will continue gaining momentum, thereby spurring the launch of more natural and sustainable skincare products.”

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GlobalData

APAC Skincare Market

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