The cream segment is the highest contributor to the Malaysia skin care products market, and is expected to grow at a CAGR of 7.5% from 2021 to 2027.
Photo by Shashi Chaturvedula on Unsplash
According to a new report published by Allied Market Research, titled Malaysia Skin Care Products Market 2021–2027, the Malaysia skin care products market size was valued at US$804.5 million in 2019, and is projected reach US$1,288.7 million by 2027, registering a CAGR of 8.1% from 2021 to 2027.
This is especially true for the skin care products targeting the medical professional channels such as dermatologists and plastic surgeons.
In Malaysia, majority of products are sold via spas & salons, retail stores, and multi-level marketing/direct selling channel. Oil-free hydration, shine-free, and anti-blemish products are witnessing high demand.
This is attributed to the fact that product formulations that provide matt/silky, non-sticky, and powdery finish perform well in a hot & humid tropical country such as Malaysia.
Increase in concern about pigmentation, darkening of the skin tone, and skin cancer among the populace in Malaysia has boosted the demand for sunscreen, which, in turn, contributes toward the overall Malaysia skin care products market growth.
Social media has helped leading brands operating in the country to increase awareness regarding skin & beauty care products, particularly among millennial.
Photo by R+R Medicinals on Unsplash
In addition, beauty bloggers and social media influencers are creating new growth avenues for the Malaysia skin care products market analysis.
Large number of local YouTubers are now hosting popular channels with demonstrations product reviews and tutorials, which further propel the Malaysia skin care products market opportunity.
