Thailand's Growing Skincare Market
Skincare is essential in Thailand. Thailand is progressively ramping up its position as a production and exportation center for skincare products amongst ASEAN countries. A plethora of raw materials, skilled professionals, and expensive standards are the contributing factors in the growth of this sector. This expansion is because of the growing understanding regarding health and fitness among consumers. As a result, there is now a massive demand for organic, natural beauty, and care products in Thailand.
Skincare Companies in Thailand
An ample of companies manufacture skincare products in Thailand.
Mistine is a prominent company that provides various beauty and skincare products covering facial care, hair care, body care, and makeup.
Giffarine manufactures face and neck creams, serum, eye serum, facial cleanser, UV defense cream, hand cream, sleeping mask, body care products, and an entire makeup line.
Ageless Life Co., Ltd provides beauty and skincare products and claims to solve all skin problems with high-quality ingredients and technology.
Sawadee SPA Products traditionally manufactures natural essential oils. Other brands, such as cute press, M.Y.R cosmetics solution, Bornnet Corporation Co., Ltd, provide plenty of skincare products.
Several international companies have also established their subordinate companies in Thailand, such as Biore, Eucerin, and Nivea.
Thailand's Growing Market
In 2018, their beauty industry was assessed at around $6.2 billion and is now destined to be worth $8.0 billion by 2022. The beauty sector of Thailand has increased from 7.2 to 7.9% per year over the past few years. From 2019 to 2022, Thailand's beauty and care market is predicted to have a 7.3% annual growth. The growth rate of skincare was estimated to be $2.4 billion by market value, $ 0.9 billion for hair care, and $ 0.7 billion for makeup.
The use of social media is accelerating the market growth of beauty and personal care products. Social media has offered a way to target the most advanced consumer segment. Most Thais are interesting in discovering new products or brands by social media based on positive reviews.