If you are interested in Thailand but unsure about the process, we will give a brief introduction to the country itself and some main factors that make Thailand a compelling choice for the location of your startup or expanding business.

The cosmetic products markets in Thailand are one of the largest among the Southeast Asian countries. Many major international brands have realized these opportunities and invested billions in the Thai cosmetics market for decades. In 2021, the prestige cosmetic and fragrance market value in Thailand amounted to around 343 million U.S. dollars. The market size has grown 5% in 2021 despite being hit with the pandemic. Thailand’s domestic beauty and personal care products export is ranked at No. 1 in ASEAN, most of these exports are to countries that Thailand has FTA with, including ASEAN countries, Japan, Australia, China, South Korea, and India. In return, imports of some cosmetic products from FTA countries with Thailand will have duty exemptions or reduced rate of tariffs. An example is South Korea, where imports of anti-aging products are eligible for duty exemption, allowing domestics consumers to have more affordable products, thus, promoting the trade and growth within the cosmetic industries.

New brands for cosmetic products have also emerged from current trends, especially from social media influencers. By promoting these products heavily on their social media accounts, influencers have become an important marketing platform for cosmetics brands. The Thai cosmetics market could ensure continuous growth and maintaining healthy market performance by tapping into this resource. Thailand’s cosmetic markets are still expected to grow continuously. This is why Thai Market should be your priority.

Currently, the cosmetic control in Thailand has been implemented by the Cosmetic Act B.E. 2558 (2015). The cosmetic regulation consists of various activities in two major areas: pre-marketing and post-marketing activities. Any products having pharmaceutical characteristics such as those affecting or altering the functions or structure of human body or presenting as pharmaceutical products will be outside the scope of cosmetic regulation.

According to the Cosmetic Act of B.E. 2558 (2015), the focus of regulation has been recently shifted from pre-marketing activities to post-marketing activities. This effort originated on the notion that the utilization of technical requirements and the practice of good manufacturing guidelines can ensure the quality of cosmetic products manufactured.

Ref : [1] https://www.statista.com/forecasts/1260613/revenue-of-prestige-cosmetics-and-fragrances-asia-pacific-region

[2] Thailand Department of Trade Negotiations

[3] https://www.fda.moph.go.th/sites/FDA_EN/SitePages/Cosmetic.aspx?IDitem=RoleAndResponsibilities

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