Bringing the Cosmetic and Personal Care Industries of Two Countries (Thailand and Indonesia) Together
Thailand has one of the largest beauty, cosmetics, and personal care industries in Southeast Asia. By 2022, data from Statista.com reveals, the market value of luxury cosmetics and fragrances in Thailand will be around US$487 million. Between 2023 and 2027, the cosmetics segment of Thailand’s beauty and personal care industry is predicted to expand by USD 186.7 million (+25.61 percent). Revenue is expected to reach 915.56 million US dollars by 2027.
The Thai government and manufacturers have worked hard to establish and expand local brands in order to sell Thai cosmetics and skin care products in international markets. As a result, in addition to the home market, Thailand’s beauty products have travelled to numerous nations, including Japan, the Philippines, Vietnam, and Indonesia.
The immense potential of the Thai beauty sector will be shown at the ‘Thailand Cosmetics & Personal Care Business Matching’ event, which will take held on July 25, 2023, at the Kempinski Hotel Jakarta. The seminar-style event will feature Thai cosmetics and personal care entrepreneurs, as well as invitees who are cosmetic and personal care product importers and distributors.
At least 18 Thai cosmetics and personal care entrepreneurs with various brands are expected to attend. It will involve national business alliances from a range of industries, including privately owned businesses, cooperatives, and government-owned corporations, as well as brand owners in the beauty industry, importers, associations of spa business owners, and national business owners from Indonesia.
According to Hataichanok Sivara, Director of the Thai Trade Center Jakarta, cosmetic and personal care items are rapidly developing. This quick expansion can be attributed to a demographic transition, with young consumers entering the market, among other factors.
At the same time, these changes are reinforced by the Internet and social media, which have long-term effects on beauty product buying behaviour.
One of the most important changes in Thailand’s beauty and personal care industry is the rise in internet sales. By 2023, online sales are estimated to contribute for 11.8% of overall revenue in this industry. Technological and e-commerce innovations have offered new opportunities for beauty businesses to reach consumers online and increase market penetration.
