The export of beauty, make-up, and skin care preparations from Thailand stood at $673.21 million in 2023. From 2013 to 2023, the trend shows fluctuations with significant growth from 2018 onwards. The year-on-year variation for 2022 and 2023 were 3.89% and 3.67%, respectively. The average annual growth rate (CAGR) over the last five years (2018-2023) is 1.83%. Over the next five years, the forecast indicates continued growth, with a forecasted CAGR of 2.66% and an overall growth rate of 14.05% by 2028.
Future trends to watch for include:
- Increasing demand for natural and organic beauty products which might boost exports.
- Potential impacts of regulatory changes and trade agreements on export dynamics.
- Shifts in global market demand, particularly from emerging markets in Asia and the Middle East.