The Thailand skin care products market size was valued at $2,568.2 million in 2019, and is projected reach $4,391.4 million by 2027, registering a CAGR of 7.6% from 2021 to 2027. Skin care products refer to those products which aid skin integrity, provides relief to skin conditions, and furthermore enhance its appearance. Several types of skin care products available in the market include cream, lotion, masks, and serums. Skin care products are manufactured using several ingredients, including chemical compounds, medicinal herbs, or natural ingredients.
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According to Thailand skin care products market analysis, the market is segmented into type, demographics, age group, and sales channel. By type, it is categorized into cream, lotion, and others. Depending on demographics, it is bifurcated into male and female. On the basis of age group, it is classified into generation X, millennial, and generation Z. As per sales channel, the market has been studied across supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel.
On the basis of type, the cream segment accounted for the maximum share in 2019, since cream and cream-based products are considered as one of the most popular skin care products in Thailand. Cream-based products have gained higher traction in the skin care industry, due to their emollient properties such as anti-inflammation and skin firming. In addition, social factors such as increase in consciousness about personal well-being &appearance among young generation and surge in demand for aesthetic services are actuated to positively impact the growth of the market. Hence, due to these key characteristics possessed by cream-based skin care products, the cream segment accounted for a higher value share in the Thailand skin care products market, although other skin care products such serums, masks, peel offs, powder, oil, cleansers, and toners are expected to grow at a higher CAGR during theThailand skin care products market forecast period.
On the basis of demographics, the female segment was dominant, which accounted for more than half of the Thailand skin care products market share in 2019, and is expected to retain its dominance during the forecast period. Improvement in standard of living and fashion consciousness among Thailand female consumers haveboosted the demand for skin care products. In addition, owing to surge in awareness regarding health and wellness among female consumers in Thailand, the demand for herbal and natural skin care products is anticipated to increase at a substantial rate during the forecast period.
On the basis of age group, the generation X segment held a significant share in the Thailand market in 2019. However, the millennial segment is expected to garner a considerable share in the Thailand skin care products market, since millennial are known to be more tech-savvy and exhibit interest in trying new products, which make them the key target audience in the Thailand skin care products industry.
On the basis of sales channel, the supermarket/hypermarket segment held a significant share in the Thailand skin care products marketin 2019. However, the online sales segment is expected to garner a considerable share, due to rise in penetration of internet, increase in digitization, and surge in number of social media users in Thailand. In addition, brands are collaborating with social media influencers to promote skin care brands in online retail. Hence, online stores reach a larger consumer base across the country, and is considered as the fastest growing sales channel in Thailand skin care products market during the forecast period.
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The key players analyzed in the Thailand skin care products market reportare L'Oréal S.A., Beiersdorf AG, Kao Corporation, The Estée Lauder Companies Inc., Do Day Dream Plc., Siam Health Group Co. Ltd., Aisance Company Limited, Shiseido Company Limited, Unilever Group, and Procter & Gamble.
Key market benefits for stakeholders
- The report provides extensive analysis of the current & emerging trends and opportunities in the Thailand skin care products market.
- The reportprovides detailed qualitative and quantitative analyses of current trends and future estimations, which help to understand the prevailing Thailand skin care products market opportunities.
- A comprehensive analysis of factors that drive and restrict Thailand skin care products market growth is provided in the study.
- An extensive analysis of the market is conducted by following key product positioning and monitoring top competitors within the market framework.
- The report provides extensive qualitative insights on the potential & niche segments.
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