1、 THAILAND BEAUTY AND PERSONAL CARE INDUSTRY REPORT Bangkok,June 2024 20 24 1 THAILAND Beauty and personal care industry report 2024 In 2023,Thailands beauty and personal care sector saw increased demand driven by refined consumer preferences and a shift towards prioritizing self-care,including groom
2、ing and emotional well-being.This led to double-digit growth in both value and volume across the industry.The surge was propelled by the expansion of color cosmetics,supported by market recovery efforts and effective marketing tactics like new product launches and discounts.Consumers also invested i
3、n premium skincare products for self-pampering,while premium fragrances remained popular among those seeking emotional wellness.Overall,the industry experienced strong performance and positive trends in these key product categories.Competitive landscape In 2023,established global leaders continued t
4、o dominate the beauty and personal care industry.Despite fierce competition,new entrants are leveraging digitalization and social media for growth.Both large and small players intensively promoted products to specific demographics throughout the year,emphasizing continuous marketing over sporadic la
5、unches.Brands utilized influencers to showcase product benefits,build brand image,and increase awareness through global marketing events.Domestic brands expanded into international markets to enhance their reputation,with Mistine targeting Chinese consumers and Harnn focusing on Singapore.Harnns phy
6、sical store in Singapore provides a direct consumer connection and hands-on product experience,catering to the premium segment.2023 key trends and competitive trends In 2023,innovation in beauty and personal care was driven by local consumers sophisticated demands,leading to the skinimalism trend em
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