Thailand: Lip Make-Up Preparations Market 2024

Lip Make-Up Preparations Market Size in Thailand

For the fourth consecutive year, the Thai lip make-up preparations market recorded decline in sales value, which decreased by -8.1% to $X in 2022. Overall, consumption showed a pronounced slump. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Lip Make-Up Preparations Production in Thailand

In value terms, lip make-up preparations production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight downturn. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Lip Make-Up Preparations Exports

Exports from Thailand

In 2022, shipments abroad of lip make-up preparations was finally on the rise to reach X tons after two years of decline. In general, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2018 when exports increased by 120% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, lip make-up preparations exports soared to $X in 2022. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2018 when exports increased by 154% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Malaysia (X tons) and the UK (X tons) were the main destinations of lip make-up preparations exports from Thailand, with a combined 53% share of total exports. Singapore, Myanmar, the United Arab Emirates, Australia, Lao People's Democratic Republic, India, Kuwait, Russia, Cambodia and China lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +79.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and the UK ($X) were the largest markets for lip make-up preparations exported from Thailand worldwide, together accounting for 41% of total exports. Japan, Australia, Myanmar, China, India, the United Arab Emirates, Lao People's Democratic Republic, Russia, Cambodia and Kuwait lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Myanmar, with a CAGR of +79.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lip make-up preparations export price stood at $X per ton in 2022, reducing by -9.3% against the previous year. Over the period under review, the export price showed a perceptible descent. The pace of growth was the most pronounced in 2018 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lip Make-Up Preparations Imports

Imports into Thailand

In 2022, overseas purchases of lip make-up preparations increased by 49% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 57% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, lip make-up preparations imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed notable growth. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of lip make-up preparations to Thailand, with a 50% share of total imports. Moreover, lip make-up preparations imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. France (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+9.6% per year) and France (+5.5% per year).

In value terms, the largest lip make-up preparations suppliers to Thailand were France ($X), China ($X) and Italy ($X), together comprising 65% of total imports.

Among the main suppliers, Italy, with a CAGR of +21.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average lip make-up preparations import price amounted to $X per ton, reducing by -3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2015 an increase of 32%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :