Thailand Skin Care Market (2023-2029) | Companies, Size, COVID-19 IMPACT, Analysis, Trends, Industry, Forecast, Share, Value, Revenue, Growth & Outlook

Topics Covered in the Thailand Skin Care Market

Thailand Skin Care Market report thoroughly covers the market by product types and by distribution channel. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Skin Care Market Synopsis

Thailand skincare market is projected to register growth during the forecast period. The increasing population, rising disposable income and growing consumer awareness towards skin care products are some of the major factors driving the growth of this market in Thailand. In addition, changing lifestyles, evolving fashion trends, and product innovation by manufacturers is further boosting the Thailand skin care industry.

According to 6Wresearch, the Thailand Skin Care Market Size is projected to grow at a CAGR of 4% during the forecast period of 2023-2029. The population in Thailand has been steadily increasing over recent years due to its economic development which means that more people are able to afford quality skin care products than ever before. This has resulted in an increase in demand for these products and thus driving up sales within the Thailand Skin Care Industry. Disposable income levels have grown significantly over recent years in Thailand due to higher wages as well as reduced taxes on certain goods and services resulting from government subsidies or tax breaks given out by local authorities. Consumers have become increasingly aware about their personal appearance and thus want to invest money into buying high-end cosmetic items that make them look good while protecting their skin at the same time. This trend is especially evident among young women who form a significant portion of this market customer base. The presence of several international brands coupled with aggressive marketing campaigns aimed at educating consumers on how best they can keep their skins healthy are all contributing towards building brand loyalty amongst customers leading them to buy more often from specific companies or labels rather than switching between different ones frequently. Many premium branded beauty & cosmetics items tend to be expensive compared with other non-luxury alternatives such as those made locally or even imported from other countries making it difficult for many middle-class families who cannot afford such price tags but still wish to maintain good-looking appearances through careful use of skincare items. Counterfeiting continues to present a problem not only within Thailand but across Asia region with fake versions of certain popular brands being sold on illegal channels such as street vendors online websites etc putting genuine producers’ revenue risk since these trade activities do directly impact the bottom lines of established players operating domestically.

Covid-19 Impact on the Market

The COVID-19 pandemic has had a significant impact on the Thailand skincare market share, leading to a decrease in sales due to shop closures and restrictions on movement. The outbreak has also caused an increase in online shopping as consumers resort to e-commerce for their beauty products.

Key Players of the Market

Unilever Thailand, Siam Botanicals, Peejung Group, Thailand Cosmetics International Co., Ltd, Beauty Buffet, Naruko (Thailand) Co., Ltd.

Government policies and schemes introduced in the Thailand Skin Care Market

There were several government policies and schemes in Thailand that indirectly impacted the Thailand Skin Care Market Growth. For instance, the Thai Food and Drug Administration (FDA) regulates cosmetics in Thailand. They set standards and requirements for the production, import, and sale of cosmetics. Adherence to these regulations is crucial for businesses operating in the skincare market. The Thai government enforces intellectual property rights to protect brands and trademarks. This is important for skincare companies to safeguard their products and reputation in the market. Also, the government have policies in place to support the export of local skincare products. Many skincare businesses in Thailand fall under the category of SMEs. The government have programs to support SMEs, which include access to financing and capacity-building initiatives. Further, the government also promote the use of local herbal and natural ingredients in cosmetics and skincare products. This is supported by initiatives to preserve traditional knowledge and promote sustainable sourcing practices.

Market Analysis by Distribution Channel

According to Shivam, Senior Research Analyst, at 6Wresearch, the online distribution channel has been experiencing growth in recent years owing to the convenience of online shopping and the availability of a wide range of products. Online channels also offer a platform for brands to engage with consumers through engaging content and recommendations.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Skin Care Market Outlook
• Market Size of Thailand Skin Care Market, 2022
• Forecast of Thailand Skin Care Market, 2029
• Historical Data and Forecast of Thailand Skin Care Revenues & Volume for the Period 2019 - 2029
• Thailand Skin Care Market Trend Evolution
• Thailand Skin Care Market Drivers and Challenges
• Thailand Skin Care Price Trends
• Thailand Skin Care Porter's Five Forces
• Thailand Skin Care Industry Life Cycle
• Historical Data and Forecast of Thailand Skin Care Market Revenues & Volume By Product Types for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Skin Care Market Revenues & Volume By Face Creams for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Skin Care Market Revenues & Volume By Body Lotions for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Skin Care Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Skin Care Market Revenues & Volume By Online for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Skin Care Market Revenues & Volume By Offline for the Period 2019 - 2029
• Thailand Skin Care Import Export Trade Statistics
• Market Opportunity Assessment By Product Types
• Market Opportunity Assessment By Distribution Channel
• Thailand Skin Care Top Companies Market Share
• Thailand Skin Care Competitive Benchmarking By Technical and Operational Parameters
• Thailand Skin Care Company Profiles
• Thailand Skin Care Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Types

• Face Creams
• Body Lotions

By Distribution Channel

• Online
• Offline