Conference background

South East Asia is emerging as a pivotal market for Chinese cosmetic brands seeking international expansion. It is projected that the beauty and cosmetics market in South East Asia will surpass Rmb300 billion by 2025, exhibiting a compound annual growth rate higher than that of the Chinese market. Regarded as a "future market" and a "blue ocean" in the global beauty industry, South East Asia is gaining significant prominence. Building upon these findings, Happi China Magazine has made plans to continue organizing the ASEAN Personal Care Summit in Thailand and Indonesia in 2024.

Thailand, being a central hub in Southeast Asia, is the favored destination for market entry. Moreover, since becoming a member of ASEAN, Thailand has witnessed a decline in tariffs, resulting in a steady rise in cosmetics exports. Presently, Thailand stands as the second-largest cosmetics exporter in ASEAN and the tenth-largest globally. By 2023, the overall value of the cosmetics market in Thailand soared to 323 billion Thai Baht, which is 1.5 times higher than that of 2022. Approximately 72% of Thai cosmetics are sold within the country, while the remaining 28% are exported to significant markets like ASEAN, Japan, Australia, South Korea, and China. During the initial four months of this year, the export value reached 28.2 billion Thai Baht, reflecting an 11.9% increase compared to the same period last year.

On June 11-12, 2024, the ASEAN Personal Care Technology Summit will be hosted by Happi China Magazine in Bangkok. This conference will extend invitations to South East Asian cosmetic brands, factories, and raw material suppliers to engage in discussions regarding trends, regulatory dynamics, technological innovation, and other pertinent topics in the South East Asian cosmetics market.

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