South-Eastern Asia: Market for Beauty, Make-Up And Skin Care Preparations 2024

Market Size for Beauty, Make-Up And Skin Care Preparations in South-Eastern Asia

The Southeast Asian market for beauty, make-up and skin care preparations contracted modestly to $X in 2022, shrinking by -3.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Beauty, Make-Up And Skin Care Preparations in South-Eastern Asia

In value terms, production of beauty, make-up and skin care preparations totaled $X in 2022 estimated in export price. Over the period under review, production saw buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports in South-Eastern Asia

In 2022, after six years of growth, there was decline in shipments abroad of beauty, make-up and skin care preparations, when their volume decreased by -2.7% to X tons. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when exports increased by 32% against the previous year. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, exports of beauty, make-up and skin care preparations shrank to $X in 2022. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 34%. Over the period under review, the exports of hit record highs at $X in 2021, and then contracted modestly in the following year.

Exports by Country

Singapore was the major exporter of beauty, make-up and skin care preparations in South-Eastern Asia, with the volume of exports finishing at X tons, which was near 68% of total exports in 2022. It was distantly followed by Thailand (X tons), Indonesia (X tons) and Malaysia (X tons), together committing a 29% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

Exports from Singapore increased at an average annual rate of +6.6% from 2012 to 2022. At the same time, Vietnam (+16.6%), Indonesia (+6.5%), Malaysia (+3.3%) and Thailand (+1.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +16.6% from 2012-2022. While the share of Singapore (+7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-6.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest beauty, make-up and skin care preparations supplier in South-Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Thailand ($X), with an 8.4% share of total exports. It was followed by Indonesia, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +13.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+6.1% per year) and Indonesia (+4.2% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, standing approx. at the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for beauty, make-up and skin care preparations decreased by +0.4% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the export price increased by 19%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.6%), while the other leaders experienced more modest paces of growth.

Imports of Beauty, Make-Up And Skin Care Preparations

Imports in South-Eastern Asia

In 2022, imports of beauty, make-up and skin care preparations in South-Eastern Asia declined to X tons, shrinking by -12.9% compared with the previous year. Over the period under review, imports, however, showed strong growth. The pace of growth was the most pronounced in 2013 when imports increased by 21% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, imports of beauty, make-up and skin care preparations shrank to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2018 when imports increased by 29%. Over the period under review, imports of hit record highs at $X in 2021, and then fell modestly in the following year.

Imports by Country

Singapore was the largest importer of beauty, make-up and skin care preparations in South-Eastern Asia, with the volume of imports resulting at X tons, which was approx. 35% of total imports in 2022. Malaysia (X tons) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (14%), Thailand (11%), the Philippines (8.5%) and Indonesia (6.6%). Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported beauty, make-up and skin care preparations in South-Eastern Asia, comprising 60% of total imports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +10.6%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+25.9% per year) and Thailand (+4.2% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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