Definition:
The Beauty & Personal Care market refers to consumer goods for cosmetics and body care. This market includes various categories such as cosmetics, skin care, personal care, fragrances and beauty tech. Excluded categories are beauty services, such as hairdressers, and professional products. Products that primarily serve medical purposes are also excluded here but are shown as part of the OTC Pharmaceuticals market. All shown sales values refer to the retail value and include sales taxes.
Structure:
The market consists of 5 different segments:
Additional Information:
The market comprises revenue, average revenue per capita, sales channel. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). For more information on the displayed data, click the info button on the right side of each box.
Market Insights report
NOTES: Data was converted from local currencies using average exchange rates of the respective year.
MOST_RECENT_UPDATE: Feb 2025
SOURCE: Statista Market Insights
MOST_RECENT_UPDATE: Feb 2025
SOURCE: Statista Market Insights
NOTES: The chart reflects the percentage of revenue generated from the sale of Beauty & Personal Care products through specific retail sales channels.
MOST_RECENT_UPDATE: Sep 2024
SOURCES: Statista Market Insights, Statista Consumer Insights Global
MOST_RECENT_UPDATE: Feb 2025
SOURCE: Statista Market Insights
The Beauty & Personal Care market in Singapore is witnessing slow growth, influenced by factors like changing consumer preferences, the rise of sustainable products, and the impact of economic conditions on discretionary spending, which temper overall market expansion.
Customer preferences: Consumers in Singapore's Beauty & Personal Care market are increasingly prioritizing clean beauty products that align with their values of sustainability and ethical sourcing. This shift is driven by a growing awareness of environmental issues and a desire for transparency in ingredient sourcing. Additionally, the rise of social media influencers has shaped consumer preferences, leading to a demand for personalized beauty solutions that cater to diverse skin types and individual needs. As wellness becomes a lifestyle choice, holistic beauty approaches that integrate mental well-being with skincare are gaining traction.
Trends in the market: In Singapore, the Beauty & Personal Care market is experiencing a surge in demand for clean beauty products, with consumers increasingly seeking items that promote sustainability and ethical sourcing. This trend highlights a significant shift toward transparency in ingredient origins, driven by heightened environmental awareness. Concurrently, social media influencers are shaping consumer preferences, fostering a desire for personalized solutions catering to diverse skin types. The integration of wellness into beauty routines is also gaining momentum, suggesting that industry stakeholders should prioritize holistic approaches to meet evolving consumer expectations and enhance brand loyalty.
Local special circumstances: In Singapore, the Beauty & Personal Care market is uniquely shaped by its multicultural society, where diverse beauty standards and rituals coexist, fostering a demand for products that cater to various skin tones and types. Additionally, stringent regulatory frameworks ensure high safety and quality standards, instilling consumer trust in local brands. The island's urban environment encourages fast-paced lifestyles, driving interest in multifunctional products that offer convenience. Furthermore, a strong emphasis on wellness aligns beauty with health, influencing product development and marketing strategies.
Underlying macroeconomic factors: The Beauty & Personal Care market in Singapore is significantly shaped by macroeconomic factors such as economic stability, consumer spending patterns, and global trade dynamics. The nation's robust economic performance, characterized by a high GDP per capita and low unemployment rates, fosters disposable income growth, enabling consumers to invest in premium beauty products. Additionally, global trends towards sustainability and ethical consumption are influencing local brands to adopt eco-friendly practices, aligning with rising consumer awareness. Furthermore, fiscal policies promoting innovation and technology in retail are enhancing distribution channels, thereby expanding market reach and product accessibility.
Data coverage:
The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.NOTES: Based on data from IMF, World Bank, UN and Eurostat
MOST_RECENT_UPDATE: Jan 2025
SOURCE: Statista Market Insights