Based on data from Moojing Oversea, Indonesia boasts the largest online beauty and skincare market in Southeast Asia.
1.In 2023, the total annual sales revenue for beauty and personal care products on Shopee's Indonesia platform reached a staggering USD 1,819 million, marking a 35% year-on-year increase. Skincare products, body care, and beauty sets emerged as the top three subcategories in demand, collectively accounting for over 50% of the overall market share. Among them, skincare products surpassed USD 595 million in annual sales, marking a growth of over 40% compared to the previous year, demonstrating significant volume and rapid growth.
Through further analysis using Moojing Oversea data, it is observed that facial moisturizers and serum-based facial essences rank as the top two product lines within the skincare category.
2.It's worth mentioning that although sun protection products only hold an 11% market share, their year-on-year growth rate reaches 100%, indicating significant market potential. Given Indonesia's perennially high temperatures, humidity, strong UV radiation, and urban pollution typical of tropical climates, functional protective products are highly favored in the market. Brands and merchants should emphasize the high protective value, waterproof functionality, and concealing beauty effects of their products in marketing campaigns, leading to more substantial sales values.
3.The beauty and skincare market on Shopee's Indonesia platform is highly competitive, with relatively low concentration. Currently, there are nearly 24,000 brands and over 4 million products. Among them, the local brand Skintific has demonstrated the most outstanding performance over the past year, with a growth rate exceeding 200%, capturing a market share of 5.1%. Additionally, Skintific holds the top position on the Lazada platform, commanding a market share of 3.8% and achieving a growth rate of over 500% in 2023.
Skintific is a brand focused on overseas markets, positioning itself as a provider of cost-effective skincare products tailored for young women. Their products are priced predominantly below USD 16 and are primarily focused on facial moisturizers, serums, and facial masks.
