, Southeast Asia
174 views
Photo by Alex Kinkate: https://www.pexels.com/photo/black-make-up-palette-and-brush-set-208052/

Southeast Asia, India are ‘next gold rush’ for luxury beauty brands

The luxury beauty markets in the markets will reach $7.6b by 2026.

International brands should set their footprint in “fast-emerging” Southeast Asia and India markets over the next decade as they will likely secure higher capital returns and business development.

In a statement, Kearney said the luxury beauty markets in Southeast Asia and India are expected to increase by $7.6b by 2026, with an 11% compound annual growth rate from 2021.

“Compared to the estimated global luxury beauty industry growth rate of between 4% and 6%, the region is clearly the place to invest in and the place to be,” Kearney said.

“There is no more time to delay. Brands that hope to capitalize on and dominate the region need to enter now,” it added.

ALSO READ: How beauty brands can penetrate the Japanese market

These markets are also nearing an inflection point and will see double-digit growth in the luxury beauty segment within a decade, conditions which could result in the rise of local beauty brands. 

As local beauty brands belong to the masstige category, Kearney said this allows international brands to penetrate the luxury beauty segment.

Kearney said international brands will continue to dominate Southeast Asia and India’s luxury beauty markets.

Local brands accounted for up to 40% of the segment in mature markets, compared to emerging markets where local luxury brands have a much lower presence.

“As observed in the growth journey of the China, Japan, and South Korea luxury beauty markets, we find that homegrown luxury beauty brands tend to emerge and compete against international ones as a market matures,” Kearney said. 

“We believe SEA and India are still far from this point—and therein lies a limited but timely window of golden opportunity for global luxury beauty brands,” it added.

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

South Korea's dermocosmetics market ranks 6th globally
It has attracted competition from "concept-dermo," "dermo-inspired," and "pharma-dermo" brands. 
Fashion
Hydration products gain traction in APAC
It was driven by increased awareness of health concerns like global warming and modern lifestyles.

Exclusives

Embracing technology and personalisation drives e-commerce in Indonesia
3 retail executives compare notes on rapid tech-driven growth of e-commerce at Retail Asia Forum.
Embracing hyperlocal retailing in Indonesia
Retail Asia Forum in Jakarta delved on the complexities of implementing hyperlocal retail strategies in a country as diverse as Indonesia.
PT ABC President Indonesia touts retail with personalised digital campaign
COO Dwi Hatmadji showcases successful Gen Z and millennial engagement strategy at Retail Asia Forum 2024
What new brands need to succeed in Asian markets
Price sensitivity remains a critical factor especially in essential categories like food and beverages.