If Covid-19 has slowed down the cosmetics industry, conquering new horizons can be a way to boost growth. It is in this perspective that Business France has dedicated a whole series of webinars during the virtual trade show E-Cosmetic 360. The opportunity to take stock of the most interesting countries. Thailand was among the successful candidates.
Thailand is the first market in the ASEAN zone for beauty. The sector’s sales in 2019 were 7.14 billion euros (+7.4% compared to 2018) with 66.9% for domestic and 33.1% for export. The forecast for 2023 is 8.4 billion euros.
The sector is divided into several categories:
• Skin care (2.158 billion euros)
• Make-up (669.3 million)
• Perfumes (239 million)
• Capillaries (817.3 million)
• Lines for men (390.3 million)
In Thailand, cosmetics have a real place in the daily lives of consumers. Coquetry is a witness to professional and social success.
Trends
Despite the boom in e-commerce, 85% of care-related purchases are made in stores.
Before acquiring a product, Thai people are very sensitive to the opinions of influencers that can be found on the Internet.
Another important point is that care products in small formats at affordable prices are more widely consumed. *“Many new American and Japanese brands have thus been introduced to the market and sold in perfume chains. This clientele is mainly made up of students or young working people,” explains Business France.
Market characteristics
The cosmetic offer is increasingly rich with new international and local players.
Local production has thus encouraged individuals to become …
