Research Nester has released a report titled “Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand Professional Skincare Products Market – Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the professional skincare products market in Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand in terms of market segmentation by product type, composition, demography, application and by distribution channel.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market is segmented by composition into alpha-hydroxy acids, polyhydroxy acids, beta-hydroxy acid, hydroquinone, kojic acid, retinoids and others, out of which, the beta-hydroxy acid segment registered the largest market share of 25.50% along with a market value of USD 390.2 million for the total market in the nations of Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand. On the other hand, the beta-hydroxy acid segment in the market in Canada held the largest market value of USD 98.9 million in the year 2019. It is further anticipated to achieve a CAGR of 3.4% during the forecast period, i.e. 2021-2028, and further gain an absolute $ opportunity of USD 27 million during the forecast period.

The Canada professional skincare products market is anticipated to achieve a CAGR of 3.2% during the forecast period. On the other hand, the professional skincare products market in Taiwan, Vietnam, Philippines, Hong Kong, Singapore and Thailand are anticipated to gain a CAGR of 6.2%, 8.2%, 4.6%, 4.7%, 5.7% and 5.2% respectively during the forecast period. Out of all the markets in the nations, the market in Canada registered the largest market value of USD 387.9 million in the year 2019. Further, the market in Canada is also anticipated to reach a value of USD 504.0 million by the end of 2028.

Growing Millennial and Aging Population

In the statistics by the World Bank, 83% men and 72% women were recorded to be employed as per the employment status of millennials around the world in the year 2018.

Preferences for innovative and quality products amongst the millennial generation is growing every day. Moreover, these group of people are also known to have a significant increase in their average spending, backed by the increasing employment status of the millennials worldwide, which is anticipated to raise the adaptation rate of professional skincare products. On the other hand, factors such as the growing aging population, which is raising the demand for skincare products such as anti-ageing, treatment of wrinkles and others, along with the increasing competition amongst the players operating in the professional skincare products market are anticipated to drive the growth of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market over the forecast period.

However, concerns regarding the stringent manufacturing regulations and the need of the product manufacturers to develop skincare products that meet the regulations and policies of several nations worldwide, along with the presence of counterfeited products are some of the factors anticipated to limit the growth of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market, which includes company profiling of L’Oreal S.A. (EPA: OR), Unilever (AMS: UNA), Procter & Gamble (NYSE: PG), Beiersdorf Global (ETR: BEI), Johnson & Johnson Services, Inc., New Avon Company, Colgate-Palmolive Company (NYSE: CL), Revlon (NYSE: REV) and Clarins. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Canada, Taiwan, Vietnam, Philippines, Hongkong, Singapore, and Thailand professional skincare products market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.