In 2023, the import value of lip make-up preparations to Malaysia stood at a certain level which set the base for forecasting future trends. The data indicates a gradual year-on-year increase in the import values from 2024 to 2028. Specifically:
• 2024: 50.917 million USD
• 2025: 52.915 million USD
• 2026: 54.873 million USD
• 2027: 56.792 million USD
• 2028: 58.672 million USD
Year-on-year percentage variation shows a consistent growth trajectory in import values:
• 2024 to 2025: Approx. 3.93%
• 2025 to 2026: Approx. 3.70%
• 2026 to 2027: Approx. 3.50%
• 2027 to 2028: Approx. 3.31%
The forecast data suggests a Compound Annual Growth Rate (CAGR) of around 3.61% for the period stretching from 2024 to 2028.
Future trends to watch for include potential shifts in consumer preferences towards eco-friendly and organic lip make-up products, the impact of global trade policies, beauty industry innovations, and economic fluctuations that could alter import dynamics. Monitoring these factors will be essential for adjusting market strategies accordingly.
