The J-Beauty Product Market is Expected to Register a Valuation of US$ 52,512.40 Million by 2034 Owing to Rising Need for Personal Care and Skincare Solution | Future Market Insights, Inc.

NEWARK, Del, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The J-beauty product market is likely to jump from US$ 34,468 million in 2024 to US$ 52,512 million by 2034. This projected expansion is anticipated to result from an average 4.30% CAGR in the demand for the J-beauty product market over the upcoming decade.

The market expands rapidly as the need for personal care products increases among young and older adults. The presence of the beauty goods manufacturing industry throughout the globe is expected to fuel market expansion. Manufacturers are constantly introducing new and innovative products with new features, which is expected to create significant opportunities for the J-beauty product market.

Japanese beauty products are well-known for their precise attention to detail and dedication to making high-quality cosmetics. Due to the rise in using organic ingredients, J-beauty products have acquired appeal for their efficiency and dependability, attracting consumers looking for long-lasting skincare and high-quality beauty solutions. Moreover, feedback from social media influencers and the promotion of beauty products through celebrities are expected to create immense opportunities in the market.

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Companies are expanding their presence into new markets through collaboration with existing market players. Companies are forming strategic partnerships with beauty influencers and retailers to expand their reach and increase brand awareness is expected to drive the market in the forecast period.

Rising skin care and personal care needs have pushed increased demand for beauty products among Asians and Westerners. The potential of J-beauty products to address specific skincare issues attracts consumers seeking tailored and results-driven treatments. Furthermore, Japanese market experts continue to use technology to customize and modify their products.

“Manufacturers are creating strong brand identities through effective marketing strategies to boost customer retention. Manufacturing processes are being improved, and the supply chain is being optimized to enhance capacity and meet increased demand.”.- Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI)

Key Takeaways from the J-Beauty Product Market

• The J-beauty product market is estimated to register a CAGR of 4.30% with a valuation of US$ 52,512 million by 2034.
• The skincare segment is anticipated to dominate the global market by registering a 45.20% market share in 2024.
• With a 90.80% market share, the conventional segment is likely to drive the global market in 2024.
  

Key Players and Strategies for Success in the J-Beauty Product Market

A significant surge in research and development and collaboration among industry experts has been observed. Moreover, strategic partnerships for distribution marketing and investments by small-sized to develop innovative and sustainable skincare products may further expand market reach.

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Recent Developments

• In 2021, Shiseido Co., Ltd., a Japanese skincare firm, launched a new e-commerce platform to increase consumer access to J-beauty goods.
• In 2023, Keomi Beauty, a famous Japanese skincare company, announced the launch of three new skin care products in the Indian market based on the Japanese concept to address the many essential skin concerns of Indian consumers.
• In 2021, Procter & Gamble and A.S. Watson collaborated to launch the new Japanese skincare brand ‘aio.’
  

Scope of the report:

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Key Segmentation:

By Product Type:

• Haircare
• Skincare
• Colour Cosmetics
• Others

By Type:

• Organic
• Conventional

By Distribution Channel:

• E-commerce
• Specialty Stores
• Hypermarkets/Supermarkets
• Other

Authored by:

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments about Consumer Retail Goods. 

Her work primarily focuses on facilitating strategic decisions, planning and managing cross-functional business operations technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals. 

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