The Covid-19 pandemic has weakened all industries, including cosmetics. To stop the bleeding, Business France has imagined the Relaunch Export Tour. It is a series of webinars that details the specificities of the most attractive foreign cosmetic markets for French brands. And Indonesia is among the selected countries.
Indonesia has a population of 264.2 million people with a GDP of $3871 per capita.
Beauty has grown by 10.4% with a total domestic market value estimated at around 4.4 billion euros in 2018, which is expected to reach 7.8 billion euros in 2023. The skin care segment (moisturizing, anti-aging) is the best performing segment. It reached 1.3 billion euros in 2018 with growth of 11.9%. It is followed by the hair products segment (’969.5 million).
Trends
Indonesians are sensitive to the feelings of influencers in the field of beauty.
They are very active on social networks and regularly consult cosmetic forums where public figures share opinions and advice.
Among the segments that are experiencing strong growth in Indonesia are skin care, prestige and nail polish.
“Imports from Europe and the United States are very popular with Indonesians from the middle and upper classes. However, the Asian offer (South Korea, Japan), which offers quality products at affordable prices, should not be neglected,” warns Business France.
International players dominate the premium sector. They have good press with consumers because they are a guarantee of confidence.
But be careful not to underestimate the Indonesian competition. Wardah, an Indonesian halal brand, is the …
