This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/17/2017

Overview

Thailand’s beauty and personal care product market was valued at approximately $4.36 billion in 2016, a 6.5% increase over 2015.   Thailand’s beauty and personal care market is one of the largest in Southeast Asia.  Distributors and sellers of beauty and personal care items encountered increased difficulties capturing consumer demand and ensuring satisfaction.  New product launches with additional benefits, interesting claims and limited collections were key weapons in the competition, aiming to drive up the sales performance.

Skincare products were valued at $1.98 billion (45.4% of the market); 83% of revenue came from facial-care products.  Hair products were valued at $822 million (18.8% of the market).  Makeup products were valued at 595 million (13.6% of the market).  Makeup showed the fastest growth, with an increase of 7% over 2015.  Men’s grooming products registered a robust growth of 8% to reach $373 million.  Thai parents of the upper and middle-income groups also looked for good quality baby and child-specific products.

Among ASEAN countries, Thailand is the no.1 OEM cosmetics manufacturer for international cosmetics brands.  Thai OEM cosmetics manufacturers are capable of producing premium quality products.  According to the Thai Cosmetic Cluster, there are 762 cosmetics manufacturing plants (520 are SMEs).  The majority of cosmetic ingredients are imported.  Local manufacturers regard the U.S. and European countries (e.g. Germany, Italy, and Switzerland) to be the leaders in producing innovative active ingredients for cosmetics, followed by Japan and South Korea, respectively.  

Thailand - Personal Care and Beauty Products - Total Market Size
 2014201520162017 (Estimated)
Total Local Production4,2854,8974,8645,041
Total Exports2,0442,4081,8772,064
Total Imports1,1451,2581,3781,447
Imports from the US
 
179179174182
Total Market Size3,3863,7474,3654,424
Exchange Rates32.4834.2935.2835.28

 $US Millions (total market size = (total local production + imports) - exports)
 

Leading Sub-Sector

  • Anti-aging facial & eye treatment
  • Whitening facial & body skincare
  • Baby and child-specific products
  • Premium sunscreen
  • Hair restoration & treatment
  • Men’s grooming
  • Organic beauty products
  • Anti-aging cosmeceuticals
  • Makeup and color cosmetics
  • Innovative beauty & wellness products

 

Opportunities

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. 

The increasing demand for men’s grooming products appears to be trending upwards with plenty of room for growth within this market niche.  Male-specific products will be in demand, as more men are likely to switch from standard baseline grooming products to specific grooming product lines for men.

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.

 

Web Resources

Cosmetic Control Group,
Food and Drug Administration,
Ministry of Public Health
Thai Cosmetic Manufacturing Association

Trade Shows:
Beyond Beauty ASEAN - Bangkok 2017 
September 21-23, 2017

in-cosmetics Asia 2017(cosmetic and personal care ingredients)
October 31- November 2, 2017

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.



Thailand Trade Development and Promotion