Forecast: Eye Make-Up Preparations Market Size Value in Thailand

The Eye Make-Up Preparations Market in Thailand has displayed a notable growth trajectory over the past decade, with significant fluctuations year-on-year. As of 2023, the market size stood at 165.72 million USD. This marked a year-on-year increase of 3.71% from 2022 to 2023. The last two years observed consistent but moderate growth rates compared to previous years.

From 2013 to 2018, the market experienced robust growth, driven by factors such as increased consumer spending on cosmetics and a burgeoning beauty industry. However, post-2018, the growth rate decelerated marginally, reflecting market saturation and economic factors impacting discretionary spending.

Despite a slight dip in 2020 due to the pandemic, the market regained its momentum with a CAGR of 4.21% from 2019 to 2023. Looking ahead, the forecasted five-year compound annual growth rate (CAGR) from 2024 to 2028 is expected to be 2.69%, with a projected growth rate of 14.19% by 2028.

Future Trends to Watch For:

- Rising consumer preference for premium and organic eye make-up products.
- Innovations in product formulations and packaging to meet increased demand for sustainability.
- Expansion of e-commerce platforms enhancing market accessibility and consumer reach.
- Potential market consolidation with mergers and acquisitions among major players.