Myanmar region to spearhead skin care product market growth with 8.6% revenue share


L’Oréal SA, Kao Corporation, Estee Lauder, Revlon Inc., Unilever Group – Main players

POTLAND, 5933 NE WIN SIVERS DRIVE, # 205, OR 97220, USA, December 9, 2021 / – According to a new report released by Allied Market Research titled “Myanmar Skin Care Products Market By Product Type, Demographics, Age Group and Sales Channel: Country Opportunity Analysis and Industry Forecast, 2021-2027, ”Myanmar Skin Care Products market size was estimated at 272 , $ 3 million in 2019 and is expected to reach $ 501.6 million by 2027, registering a CAGR of 8.6% from 2021 to 2027. The cream segment leads in terms of market share and is expected to maintain dominance throughout the forecast period.

The major players analyzed in the Myanmar Skin Care Products Market report are L’Oréal SA, Kao Corporation, Estee Lauder, Revlon Inc., Unilever Group, Shiseido Company Limited, Procter & Gamble, Frenzo Myanmar Company Limited , Beiersdorf AG and Shwe Pyi Nann.

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With around 54 million inhabitants, the youth population represents a fair share, thus creating a dynamic and ambitious consumer base. In addition, according to internal analysis, consumers in the middle-income group are expected to double by the end of 2020. The country has experienced rapid infrastructure development, including, but not limited to, regulation, communications. and transport.

Myanmar skin care products market remains quite competitive with the presence of international and domestic brands. National brands offer a unique value proposition to compete with international skin care. For example, the Skin District 9 was launched in 2016 and offers natural, handmade cosmetics and beauty products. Such a unique value proposition attracts consumers to try natural products. In addition, Burmese consumers are strongly influenced by the discounts offered and therefore prefer high-end products with a discount.

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Halal cosmetics and personal care products are gaining popularity in the country. Consumers nationwide prefer skin care products, which are not formulated with alcohol and animal slaughter. In addition, various promotional activities are carried out in the country to promote Halal cosmetics.

Myanmar’s skin care products industry remains very competitive with the presence of established brands such as Dove, Neutrogena and Pantene. High-end consumer brands are gaining ground among expats, elite communities and the upper middle class.

The analysis of Myanmar skin care products market is diverse on the basis of product type, demographics, age group, and sales channel. Depending on the type of product, the market is categorized into cream, lotion, and others. By demographic, it is divided into male and female. Based on age group, it is analyzed on Generation X, Generation Y and Generation Z. According to the sales channel, it is classified into supermarkets / hypermarkets, specialty stores, department stores, beauty salons, drugstores and online pharmacies and sales. channel.

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Main conclusions of the study

By product type, the cream segment leads in terms of market share, in 2019; however, other segments are expected to gain market share in the coming years
In demographic terms, the female segment represented more than two-thirds of the market share in 2019; However, the male segment is poised to grow at the highest CAGR during the forecast period of Myanmar skin care products market.

By age group, Generation Z segment is expected to gain market share in the coming years and is expected to grow at a CAGR of 8.8% during the forecast period of Skin Care Products Market in Myanmar.
By distribution channel, the supermarket / hypermarket segment leads the market share of Myanmar skin care products, however, the online sales channel segment is poised to grow with CAGR on higher during the forecast period.

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