• Cosmetics Market Size in East Asian Countries in 2014 Attained 4,012.63 Billion Yen, 106.2% on Y-o-Y Basis

The entire cosmetics market in the East Asian countries (South Korea, Taiwan, China and Hong Kong) in 2014 rose to 4,012.63 billion yen (based on the shipment value of brand makers), 106.2% of the size in the previous year, stemming from the economic growth that led to population increase and expansion of consumer spending.

• Key of Future Growth Lies in Responding to Inbound Demands Targeting Chinese Tourists

Whereas continuous growth of the cosmetics market in South Korea has been boosted by the inbound tourists from China, favorable growth of the cosmetics market in Hong Kong that had long been driven by its economic growth and shopping spree by the Chinese tourists, has come to slow down, because of recent changes in the destination of such Chinese tourists shifting from Hong Kong to South Korea or Japan.

On the other hand, the cosmetics market in China is basically on the rise because of improved DPI (disposable personal income) and rising beauty awareness, in spite of the recent economic slowdown lowering the growth rate.

• Japanese Cosmetics Brand Makers Need to Acquire Brand Loyalty from Consumers

Driven by the economic growth that brings about increasing income and growing population of middle and wealthy classes, the cosmetics markets in the East Asian region and countries (South Korea, Taiwan, China and Hong Kong) respectively are projected to continue the rising tendency. In order for the Japanese cosmetics brand makers to take root at each of the region and countries of East Asia, it is indispensable to comprehend the characteristics of each market and acquire brand loyalty from the consumers.

• Figure 1: Transition of Size of Cosmetics Markets in the Four East Asian Countries