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Report
South East Asia Beauty Fridges - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The South East Asia beauty fridges market generated a revenue of over USD 765 million in the current year and is anticipated to register a CAGR of more than 5% for the forecast period.
Key Highlights
-Beauty fridges, also known as cosmetic fridges, registered rapid growth due to increased demand for premium cosmetics and skin care products across the South East Asian Countries, as these products require cool and dark storage. In recent years, with the increase in skin care awareness among people, the demand for beauty products has witnessed a dramatic increase, which has further augmented the demand for the market across South East Asia.
-In South East Asia, where skincare routines are extensive and the climate can be harsh on the skin, beauty fridges have gained popularity in order to enhance the effectiveness of skincare products and regimens. The register of high temperatures over the years due to an increase in global warming is also leading to the adoption of beauty fridges as they should be stored in cool and negative temperatures at times.
-The COVID-19 pandemic significantly affected the market for beauty fridges. Initially, the lockdowns and supply chain disruptions had a negative impact on the market. Short-term negative growth was observed in the market because of the almost complete closure of offline distribution channels, limited manufacturing operations, and supply chain disruptions. Post-COVID, the market registered significant growth as people also became conscious of their cosmetics to be healthy.
South East Asia Beauty Fridges Market Trends
E- Commerce is Driving the South East Asia Beauty Fridges Market
- The popularity of e-commerce channels is expected to increase over the projected timeframe, compared to offline distribution channels, given the increasing number of market players marking their presence online.
- The market players have been offering customers the ability to place and track orders online on their platforms, e-commerce sites, or third-party platforms like Shopify. In this regard, the emergence of high-end online shopping platforms is expected to act as a driver for the market in the foreseeable future.
- Beauty fridges are made available in many e-commerce sites in Southeast Asia, like Lazada, Shopee, Tokopedia, Bukalapak, Zalora, Lelong, and Qoo10, among others. The adoption rates of e-commerce sites for home appliances and beauty fridges have been propelling year-on-year over the last decade, mostly after the pandemic.
Thailand is Dominating the Market
- The demand for cosmetics products in Thailand is always huge. Also, the Thai tropical climate makes skin products more susceptible to spoilage. Thereby, beauty fridges are used as they offer practical solutions to skin care challenges posed by the climate. The increase in the adoption of skin care products over the years made the beauty fridges expand in Thailand.
- Most people in Thailand from the adolescence age will be using cosmetics. The Thai people use cosmetics mandatorily before they Visit the malls, functions, events, and many other parties. This made Thailand to be the most dominating country in South East Asia in the use of beauty fridges.
South East Asia Beauty Fridges Industry Overview
The South East Asia beauty fridges market is moderately fragmented in nature. However, regional players have an advantage in supplying products in various styles, designs, etc. Manufacturers are bringing innovative designs into the market to gain a competitive advantage. The major companies operating in the market include Uber Appliance, Caynel, Gourmia, Stylpro, and Samsung among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Preserving Skincare Products is Driving the Market
4.3 Market Restraints
4.3.1 High Initial Costs are Restraining the Market
4.4 Market Opportunities
4.4.1 Technological Advancements are Creating Opportunities to New Entrants
4.5 Insights on Technological Innovations in the Market
4.6 Insights on Consumer Awareness on Beauty Fridges Market of South East Asia
4.7 Industry Attractiveness: Porter's Five Forces Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitutes
4.7.5 Intensity of Competitive Rivalry
4.8 Impact of COVID 19 on the Market
5 MARKET SEGMENTATION
5.1 By Capacity
5.1.1 Up to 4 Liters
5.1.2 4 Liters to 7 Liters
5.1.3 7 Liters to 10 Liters
5.1.4 More than 10 Liters
5.2 By Application
5.2.1 Household Beauty Fridges
5.2.2 Commercial Beauty Fridges
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 By Geography
5.4.1 Thailand
5.4.2 Singapore
5.4.3 Indonesia
5.4.4 Malaysia
5.4.5 Rest of South East Asia
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Uber Appliance
6.2.2 Caynel
6.2.3 Gourmia
6.2.4 Stylpro
6.2.5 Samsung
6.2.6 Miroco
6.2.7 Danby
6.2.8 LG
6.2.9 Panasonic
6.2.10 Haier
6.2.11 Toshiba
6.2.12 Whitmor*
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