THE BEAUTY MARKET IN SOUTH EAST ASIA
Cosmoprof CBE ASEAN Bangkok is poised to be the gateway to beauty markets in South East Asia, a region with a combined population of 750 million people in 10 countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam and a combined GDP of $2.8 trillion. The establishment in 2015 of the ASEAN Economic Community (AEC) reduced trade barriers facilitating the free movement of goods, services, capital, and skilled labor within the region, stimulating rapid trade and economic development for its member countries. The cosmetic sector is one of the most important sectors. By 2020, investments in the personal care sector is expected to reach $10 billion. Among the best performing distribution channels, e-commerce will register an economic value of up to $88 billion by 2025, compared to just $6 billion in 2015.
In picking Thailand as the new meeting point for the beauty universe, Cosmoprof recognizes the important economic and cultural role the country plays in the region. International experts and opinion leaders attest to the role that Thai Beauty has played in the world. The country export products, technological innovations and services throughout the Asian continent with over 760 high-quality manufacturers on its shores. Thailand is today a leading supplier of beauty products to China, Japan and South Korea. Moreover, the competence and reputation of local operators has prompted many Asian companies to invest in new production facilities in the country, in order to certify their products as Made in Thailand. Many local brands are also developing personal care products following Thai traditions.
M Gandhi, Group Managing Director (ASEAN) of Informa Markets said: “I am extremely proud to be part of this launch – the very first Cosmoprof CBE ASEAN – in Thailand. The kingdom is the 5th destination for Cosmoprof, the international beauty event well recognized and trusted by buyers and exhibitors from around the world. I am confident that Cosmoprof CBE ASEAN will advance the growth and development of the beauty industry in Thailand, and ASEAN at large. Cosmoprof CBE ASEAN will also raise the profile of Thailand-made beauty products internationally and promote the uniqueness of Thai beauty to the global market.”
Over 800 exhibitors and more than 15,000 visitors are expected at the IMPACT Exhibition & Convention Center in Bangkok for the first edition of Cosmoprof CBE ASEAN. An exhibition area of 25,000 square meters will host the most innovative companies in the beauty sector, mainly from the Asian continent (China, Japan, Indonesia, India, Korea, Philippines, Taiwan region), and also from Europe and the United States. This will be an unique opportunity to meet entrepreneurs, managers, company directors, R&D, brand marketing managers and retailers from around the world.
The event will be divided into two major product areas for the benefit of buyers:
· The Branded Finished Products area will present finished product brands in the Perfumery & Cosmetics, Beauty Salon & Spa, Hair & Nail, Natural & Organic, Herbal Products, Nutraceutical & Food Supplements segments. A ‘Beauty Made in Thailand’ section will serve as the exclusive showcase for local companies.
· The Supply Chain section will host all parts of the production chain: Contract Manufacturing, OEM & ODM, Private Label, Machinery, Primary and Secondary Packaging, Ingredients. Within this area, companies and operators can find the most suitable partner for the launch of new projects.
“We believe there is strong market potential in South East Asia, especially in Bangkok which is recognised as the hub for the beauty business in the ASEAN region. Thanks to China’s “One Belt, One Road” initiative and development, business relations between China and the ASEAN countries has grown stronger by the day, creating lots of opportunities for the beauty industry from supply chain to finished products.” said by Ms Sang Ying, Deputy General Manager of Shanghai Baiwen Co Ltd.
SPECIAL PROJECTS AND INITIATIVES
To facilitate networking between professionals and companies and offer new insights of the trends and characteristics of the South East Asian markets, participants in Cosmoprof CBE ASEAN can take advantage of the key initiatives of the Cosmoprof network events. CosmoTalks will involve experts and industry leaders to analyze future development prospects for the market and the cosmetics industry. There will be live demos and shows dedicated to professionals by Cosmoprof Onstage.
“Through Cosmoprof CBE ASEAN, we will be able to offer our global beauty community a new stage at which to enrich their networking and take advantage of new business opportunities,” states Enrico Zannini, General manager of BolognaFiere Cosmoprof SpA. “At the same time, we will put our expertise in the beauty sector at the disposal of local entrepreneurs and professionals, giving them new inspirations for their projects”.
For a preview of the most innovative trends and products to be seen during the event, journalists, buyers and talent-scouters can refer to the CosmoTrends report, created in collaboration with major international trend agencies.
The Buyer Program is a consolidated tool of the Cosmoprof brand events: a selection of international and local buyers will be invited to the event for B2B meetings with exhibitors interested in new developments for their business. The match-making software branded Cosmoprof, Match & Meet, will facilitate business meetings amongst companies, buyers and distributors.
For further information, visit www.cosmoprofcbeasean.com