The beauty and personal care market in Thailand is booming and is one of the fastest-growing consumer industries in Thailand.
In 2018, Thailand’s beauty and personal care market reached a peak of 6.3 billion US dollars, with the largest market area being skincare products worth 2.4 billion US dollars; The market value of hair care products is 900 million US dollars; The cosmetics market is worth 700 million US dollars; The cosmetics market value exceeded 7.3 billion US dollars in 2022.
Thai skincare products are expected to increase by $4.36 billion by 2027. This can be attributed to the constantly rising middle class, who have a strong appetite for fresh new beauty products. In addition, the aging population in Thailand is currently at 10% and is expected to reach 20% by 2031. The attention to skin and anti-aging products cannot be ignored. The growth rate of sunscreen products in 2022 is 11.2%, which is the fastest growing sub industry in the chemical industry.
