The import of powders for skin care and make-up to Thailand has shown a fluctuating yet generally upward trend over the past decade. Standing at $58.191 million in 2023, the market has witnessed various year-on-year changes. Notably, imports surged in 2018 with a 19.31% increase and dropped marginally by 1.05% in 2020. The CAGR over the last five years presents a modest growth of around 3.11%. Forecasted data from 2024 onwards indicates an average annual growth (CAGR) of 2.55%, leading to an estimated market value of $68.437 million by 2028.
Future trends to watch for:
- Increasing consumer awareness and demand for high-quality skin care products.
- Impact of e-commerce and digital marketing on sales volumes.
- Potential effects of economic fluctuations on import volumes.
- Growth in the premium and luxury skin care segments.