In 2022, Thailand's cosmetics market exceeded 80. $4. 5 billion

by:XJ BEAUTY     2019-12-03

In 2022, Thailand's cosmetics market exceeded 80. US $4. 5 billion 'Thailand is one of the countries with the highest popularity and growth rate of South Korea. Recently, the Chamber of Commerce and Industry and the Korean Investment and Trade revitalization commune (KOTRA) At the 'Thailand market development strategy seminar' jointly held, former director of the Bangkok trade Museum, Cheon Chunu, said that 'Thailand is the base of the Korean wave boom, and it is expected that the Korean market will expand. 'He pointed out that Thailand is South Korea's largest ASEAN cosmetics export market, with an average annual growth rate of 32% in the past five years, and is a potential market actively opened up by major Korean cosmetics companies such as Amore Pacific and LG life health. Korean drama and K- POP and others are becoming more and more popular.  

As a Mobile First country, the penetration rate of Mobile phones reached 135 in 2017. In 4%, the Thai government publicized the commercialization of 5G from 2020, which is good news. According to Euromonitor's statistics, Thailand's cosmetics market in 2017 was 58. US $3. 8 billion, up 11% from the previous year, and it is estimated that the market size will reach 80.  By 2022. $4. 5 billion. 

Especially in terms of geopolitics, Thailand is becoming the logistics distribution center of India and China. He believes that Thailand is passing the ASEAN connectivity master plan (MPAC) ', To achieve ASEAN integration, the ASEAN regional production network (RPN) The construction of China's 'The Belt and Road Initiative' and economic corridor construction, border trade and e-commerce market will become a logistics market with great potential. 

As a result, more than 20 South Korean enterprises such as CJ Korean Transport, modern merchant shipping and CIC have entered the Thai market. In 2017, Thailand's foreign tourists reached 35. 38 million, with tourism accounting for 10% of GDP.  Therefore, South Korean enterprises are expanding into the catering industry for tourists and attracting MACE (Exhibition, conference)The scale of other fields. In addition, Thailand's economic growth slowed down after the Asian foreign exchange crisis in 1997, pushing forward to get rid of the middle-income trap 'Thailand 4. 0 'policy and the Eastern Economic Corridor (EEC) The development projects have promoted tourism and urbanization such as high-speed rail, airports and ports, and have also improved the investment environment for foreigners. However, Japan's concentrated investment in manufacturing industry is called 'Little Japan', coupled with the high household debt ratio and the successive entry of multinational enterprises such as Alibaba into the market, all of which have become obstacles for South Korean enterprises to enter the market.

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