Analysis of Thailand's import of beauty, make-up, and skin care preparations indicates a notable increase from 2013 to 2023. In 2023, imports stood at 1207.2 million US dollars. The year-on-year variation for 2023 was 4.42%, showing a slight deceleration compared to the past two years (2021 and 2022, with 10.59% and 4.72% respectively). The compound annual growth rate (CAGR) over the past 5 years was 4.09%, marking a steady but moderating growth trend.
Looking ahead, the forecast data from 2024 to 2028 suggests a continued rise, though at a slower rate, with a 5-year CAGR projected at 2.89% and an overall growth rate of 15.29%.
Future trends to watch for:
- Increasing demand for luxury and organic beauty products.- Expansion of e-commerce platforms influencing import volumes.- Potential impacts of regulatory changes on import tariffs and product standards.