On 2015 January 2015, the single market of the member countries of ASEAN, the association of Southeast Asian nations, will take shape and there are many states that are preparing, trying to identify the products and companies to offer to an audience of large consumers. One of these is Thailand, whose cosmetics industry is a reality of great importance, which will be able to reveal its full potential when, at the end of XNUMX, the integration of the markets will be fully operational.
According to data published by the Thai Cosmetic Manufacturers Association (Tcma), Thai cosmetics guarantee a turnover of 210 billion baht - of which 60% comes from the domestic market and the remainder from exports - and in the last 5 years grew steadily, despite the negative effects of political tensions, by 18% per year.
“Thanks to the creation of the Economic Community of ASEAN countries,” said one of the spokesmen of the Tcma “we expect the value of exports of our cosmetics to reach 200 billion by 2020, meeting the demand of a single market of 603 million of people". Thai cosmetic products have the advantage of already being well known and appreciated in the area, thanks to the good quality of the ingredients and the use of advanced technologies in the manufacturing processes.
Many Thai cosmetic companies have worked for a long time for multinationals in the sector, such as the Anglo-Dutch Unilever, the US Procter & Gamble or the Japanese Kao, aligning their production to the high quality standards required by the big brands. Entry into the great arena of the single market of Southeast Asia is near, and the beauty industry is sharpening its weapons, not only by strengthening the production apparatus, but also by studying marketing strategies suitable for offering its cosmetics to culturally and ethnically distant from the Thai one.
