PUBLISHER: Inkwood Research | PRODUCT CODE: 1245401
PUBLISHER: Inkwood Research | PRODUCT CODE: 1245401
The Asia-Pacific cellulite treatment market is predicted to grow with a CAGR of 9.78% over the forecasted years of 2023-2032. Key factors, such as the lower cost of treatments and premium healthcare services, the presence of skilled professionals as well as high quality healthcare facilities, and the increasing number of cosmetic procedures, are mainly accredited to the market growth of the region.
The Asia-Pacific cellulite treatment market growth analysis comprises a detailed assessment of China, South Korea, Thailand, Indonesia, Vietnam, Japan, India, Australia & New Zealand, and Rest of Asia-Pacific. As per the World Economic Forum (WEF) data, the number of individuals aged 55 years or above in South Korea increased to 16.7 million in 2020 from 11 million in 2011. Subsequently, the increasing geriatric populace is set to increase the demand for cellulite treatment products, thus leading to market growth.
On the other hand, according to the International Trade Administration (ITA), South Korea is one of the leading beauty markets globally, recognized for its innovation, pleasing packaging, and gentle ingredients. Aligning with this, as per the Korea Customs Service statistics, skincare cosmetics continued to be the greatest import category, equating to 34.17% of total cosmetic imports in the year 2021. Therefore, the rising awareness about cellulite treatment, coupled with the increasing number of aesthetic-conscious individuals in South Korea, is expected to contribute to the overall growth of the cellulite treatment market in the Asia-Pacific during the forecast years.
Some of the leading companies operating in the market are: Johnson & Johnson, Nubway Co Ltd, AbbVie Inc, etc.