Indonesia is a large market for Skin Care products. According to Statista, the total market size reached 2.05 Billion USD on 2022, and expected to grow annually by 6.18% (CAGR 2022-2026). The growth of this industry is not only driven by international brands and many local brands have emerged and even become leaders in the category.
In this report, we will zoom-in to Facial Serum as the biggest sub-category of the skin care product. And we look at Shopee Indonesia as the leading e-commerce channel in the women category within January - June 2022 period.
The pandemic period that started in 2020 accelerated the use of online channels such as Shopee, Tokopedia, and Lazada. The trend is expected to continue due to the convenience of selecting products at the user's fingertips and directly delivered to their front doors.
- Facial Serum market size in January - June 2022 period reach 994.44 Billion IDR
- 15.4 Million products sold in that period
- The market is growing significantly by 39.9% from Q1 to Q2 2022
Scarlett had the greatest market share for the first half of 2022 with 11.7%, Somethinc at the 2nd position with 8.8% and at 3rd place is MS Glow with 7.6% market share.
The market share shows that local brands are dominating. The highest performing international brand, Garnier, only ranks in the 6th place for market share performance.
The Facial Serum category grew significantly by 39.9% from Q1 to Q2 2022. Almost all top 5 brands are growing, but below the industry average, except for Avoskin which grew by 56.9% within the period.
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Methodology and Scope:
- Data was collected from Shopee public data qty sold and price
- GMV estimation calculated by multiplying qty sold vs price at daily basis. There is a slight data deviation from price changes that is not recorded between snapshot.
- Facial Serum category that covered in this report is collected from sub category “Perawatan & Kecantikan > Perawatan Wajah > Serum & Essence Wajah”
- Total SKU collected is 257,189 SKU from 18,904 merchant
- Data collection period: 1 January - 30 June 2022
- Data cleansing is applied to remove irrelevant SKU such as GIFT SKU and bulk SKU bundle for distributors.