Myanmar Skin Care Products Market Continues to Grow,With $501.6 million Valuation and 8.6% CAGR Forecasted for 2021-2027

Myanmar skin care products market size is projected reach $501.6 million by 2027, registering a CAGR of 8.6% from 2021 to 2027.

PORTLAND, OREGON, UNITED STATES, October 30, 2023 /EINPresswire.com/ — According to a new report published 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,” the Myanmar skin care products market size was valued at $272.3 million in 2019, and is projected 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 anticipated to retain its dominance throughout the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐓𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/7095

With about 54 million population, youth population represents a fair share, thus creating a dynamic, aspirational consumer base. Furthermore, according to in-house analysis, the middle income group consumers are likely to double by the end of 2020. The country has witnessed rapid development of infrastructure, including, but not limited to, regulatory, communication, and transportation.

The Myanmar skin care products market remains fairly competitive with the presence of both international as well as domestic brands. Domestic brands are providing unique value proposition to compete with the international skin care. For instance, the Skin District 9 was launched in 2016 providing handmade natural beauty and cosmetic products. Such unique value proposition attracts consumers to try natural products. Furthermore, Myanmar consumers are heavily influenced by the discounts offered, and thus prefer premium products with discount.

Halal cosmetic and personal care products are gaining wide traction in the country. Consumers in the country are preferring skin care products, which are not formulated from alcohol and animal slaughtering. Furthermore, various promotion activities are being carried out in the country to promote Halal cosmetics.

The Myanmar skin care products industry remains highly competitive with presence of established brands such as Dove, Neutrogena, and Pantene. High-end consumer brands are gaining traction among the expat, elite communities, and upper middle class.

The Myanmar skin care products market analysis is diversified across product type, demographics, age group, and sales channel. Depending on product type, the market is categorized into cream, lotion, and others. By demographic, it is bifurcated into male and female. On the basis of age group, it is analyzed across generation X, millennial, and generation Z. As per sales channel, it is classified into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/7095

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 : L’Oréal S.A., Kao Corporation, Estee Lauder, Revlon Inc., Unilever Group, Shiseido Company Limited, Procter & Gamble, Frenzo Myanmar Company Limited, Beiersdorf AG, and Shwe Pyi Nann

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :
• By product type, the cream segment led in terms of market share, in 2019; however, others segment is expected to gain market share in the upcoming years
• By demographics, the female segment accounted for more than two-third share of the market in 2019; however, the male segment is poised to grow at highest CAGR during the Myanmar skin care products market forecast period.
• By age group, the Generation Z segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 8.8% during the Myanmar skin care products market forecast period.
• By distribution channel, supermarket/hypermarket segment leads in terms of Myanmar skin care products market share, however, the online sales channel segment is poised to grow with the highest CAGR during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (96 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/3da9c5509d505bee327b1634f632c5f5

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐓𝐨 𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐌𝐲𝐚𝐧𝐦𝐚𝐫 𝐒𝐤𝐢𝐧 𝐂𝐚𝐫𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 :
> Mergers and acquisitions should be well-planned by identifying the best manufacturer.
> Sort new clients or possible partners into the demographic you’re looking for.
> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
> Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
> To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
> Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
Malaysia Skin Care Products Market
Thailand Skin Care Products Market
Natural Skin-Care Products Market https://www.alliedmarketresearch.com/natural-skin-care-products-market-A195024
Veterinary Skin Care Products Market https://www.alliedmarketresearch.com/veterinary-skin-care-products-market-A210871

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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