In 2023, the import value of essential oils, perfumes, cosmetics, and toiletries to Indonesia stood at 1.5458 billion USD. From 2013 to 2023, the market exhibited significant fluctuations. The highest year-on-year growth was observed in 2018 at 23.13%, while negative growth was noted in 2014, 2015, 2019, and 2020, albeit mildly. The Compound Annual Growth Rate (CAGR) varied considerably, starting at 14.65% in 2013, then stabilizing around 2.93% by 2023. The forecast for 2024-2028 suggests a CAGR of 2.54% with an overall growth rate of 13.37%.
Future trends to watch for include:
- Increasing consumer awareness and demand for natural and organic cosmetics and toiletries
- Expansion of e-commerce platforms and their impact on import dynamics
- Regulatory changes affecting import tariffs and trade policies
- Technological advancements in the production processes of cosmetics and essential oils