Thailand’s beauty and personal care products market was valued at approximately $4.7 billion in 2017, a 7.8% increase over 2016. Skincare products were valued at $2.2 billion (47% of the market). Hair products were valued at $846 million (18% of the market). Makeup products were valued at 658 million (14% of the market). Personal hygiene products were valued at $752 million (16% of the market).
Attention among consumers shopping for beauty and personal care is shifting through multi-brand beauty stores, which are offering mass to high-end products in one shop. With the entrance of Sephora Thailand in 2014 and its online store in 2016, there are many local multi-brand beauty stores which have a significant impact in Thailand by offering over 100,000 SKU products at competitive prices.
Skin care registered a healthy annual growth of 8.7% in 2017. There is a demand for skin care with natural ingredients. Thailand is entering an aging society and demand is rising for anti-aging products in various styles with low-to-premium positioning. Facial care accounted for 84%, whereas body care was about 16%.
Hair care products increased 6.7% in 2017. Consumers are showing interest in natural and organic hair care due to the health and wellness trends. Demand for hair care is becoming increasingly heterogeneous. As a result, the number of hair care suppliers is also on the rise, including traditional hair care providers, hair coating, and specific hair treatments in various textures of oil, serum, and leave-on.
Makeup products grew 7.6%. There is a growing focus on a more natural beauty trends among Thai consumers. Color cosmetics with multiple benefits are desirable for consumers.
Among ASEAN countries, Thailand leads as an original equipment manufacturer (OEM) for international cosmetic brands. Thai OEM cosmetic manufacturers can produce premium quality products. According to the Thai Cosmetic Cluster, there are 762 cosmetic manufacturing plants (520 are SMEs). Most cosmetic ingredients are imported. Local manufacturers regard the U.S. and European countries (especially Germany, Italy, and Switzerland) as leaders in producing innovative, active ingredients for cosmetics, followed by Japan and South Korea, respectively.
Thailand - Personal Care and Beauty Products - Total Market Size
| ||2016||2017||2018 (Estimated)||2019 (Estimated)|
|Total Local Production||4,864||5,041||5,545||6,099|
|Imports from the US|
|Total Market Size||4,365||4,700||5,170||5,687|
$US Millions (total market size = (total local production + imports) - exports)
- Anti-aging and whitening skin care
- Color cosmetics with multi-benefits
- Men’s grooming
- Sun care
- Baby and child-specific products
- Natural and organic beauty and personal care products.
Due to increasing awareness of health and wellness among consumers in Thailand, there is a healthy demand for natural and herbal personal care and beauty products.
Anti-aging and skin whitening products in both higher and lower ends of the quality spectrum continue to have a strong presence in the Thai market. The use of anti-aging products has become common among both male and female consumers.
Men’s grooming is expected to become increasingly dynamic. Factors such as social acceptance of men’s grooming will maintain the demand for the products. Skin care and hair care are the biggest categories in men’s grooming.
Southeast Asia, including Thailand, Malaysia, Indonesia, Vietnam and Singapore, will be the largest consumer of cosmetic chemicals in the near future. Thailand currently imports approximately 20% of personal care ingredients from the U.S.
Upcoming Trade Shows in Bangkok:
Beyond Beauty ASEAN-Bangkok
September 20-22, 2018
in-cosmetics Asia 2018 (cosmetic and personal care ingredients)
October 30- November 1, 2018
ASEAN Beauty 2019
Tentative date: May 2019