COSMOPROF CBE ASEAN 2024 PUTS THE SPOTLIGHTS ON THE BEAUTY BUSINESS IN SOUTH-EAST ASIA

Bangkok, June 13, 2024

Today, we are proud to announce the successful opening of the third edition of Cosmoprof CBE ASEAN at the Queen Sirikit National Convention Centre in Bangkok. With over 1,500 companies and brands from 18 countries and regions showcasing their latest products, from ingredient to branded finished product, the exhibition serves as an invaluable gateway to the ASEAN region.

Over the next three days more than 14,000 attendees are expected to visit the show, looking for new products and innovative solutions across more than 22,000 sqm of show floor. The perfect stage for international brands looking for business opportunities and new partnerships with suppliers, retailers and distributors from ASEAN and other counties, 54% of exhibitors are international companies, with 45% representing Asia Pacific and the remaining 9% coming from the rest of the world, while local companies comprise 46% of the total exhibitor number. The supply chain segment accounts for 56% of the floor space, while finished products represent 44%. Further enriching the global experience, the event features four country pavilions showcasing products from China, Italy, South Korea and Thailand.

Cosmoprof CBE ASEAN offers priceless opportunities for networking for stakeholders. Over 350 top buyers coming from Thailand, ASEAN countries, Asia Pacific, Europe and the Middle East will be hosted in the Cosmoprof exclusive Buyer Program, a crucial initiative to promote meaningful connections between exhibitors and esteemed buyers. Operators and brands can schedule their tailor-made B2B meetings thanks to the Match&Meet platform.

“Cosmoprof CBE ASEAN is gaining recognition from key player in the region, thanks to the strategic match of a rich exhibition offer, inspirational educational sessions, and highly performing business tools”, said Enrico Zannini, General Manager of BolognaFiere Cosmoprof. “Cosmoprof CBE ASEAN is a strategic event of the Cosmoprof international network in South-East Asian markets, which, according to EUROMONITOR INTERNATIONAL, are growing year after year with double-digit growth percentages. Thailand is one of the best performing markets in the region, with an expected increase up to 11% compared to 2023: this proves that it is the best region to host this great event”.

“We are delighted to welcome Cosmoprof CBE ASEAN exhibitors and visitors from every corner of the world to Thailand, the land of smiles,” says David Bondi, Senior Vice President – Asia of Informa Markets. “Strategically placed on the doorstep to the Southeast Asian market, this exciting and invaluable show brings together the innovation and future trends of the ASEAN countries with the region’s foremost entrepreneurs, educators and experts. It is truly a must-visit networking opportunity for industry players looking to do business with Asia’s most exciting up-and-coming markets.”

“We are excited to present the most innovative and fashion-forward products and players from the incredibly rich ASEAN market at Cosmoprof CBE ASEAN,” says Ying Sang, Executive Chairman of CBE China Beauty Expo, Shanghai Baiwen Exhibitions Co., Ltd. “The fascinating offerings exhibiting at the show are set to spark next-level trends and fresh interest in the ASEAN region, and we anticipate buyers and business entrepreneurs from around the world, and especially the sophisticated Chinese market, will find rich opportunities for networking and creating new partnerships.”

WHY THAILAND AND ASEAN

Thailand is member of ASEAN, a political and economic union of 10 states in Southeast Asia. Together, its member states represent a population of over 600 million over a land area of 4.5 million km². ASEAN countries can take advantage of free trade agreements with China, India, Japan, South Korea, Australia, New Zealand and Hong Kong. Thailand hosts the highest number of local manufacturers of the region, mostly OEM/EDM, and serves as a primary supplier of beauty products to major markets such as China, South Korea and Japan. Many international brands choose the country as their production center, thanks to investments offered by Thai government for cosmetics brands spanning up to eight years, easy access to high quality ingredients and raw materials, and lower costs compared to neighboring countries.

The ASEAN region is expected to remain among the world's fastest-growing regions in the next decade. Indonesia, already the largest ASEAN economy, is set to become a leading

global emerging market, with its GDP projected to rise from USD 1.3 trillion in 2022 to USD 4.1 trillion by 2035. Vietnam and the Philippines are also anticipated to join the ranks of major emerging markets by 2035. Additionally, Malaysia is on track to become an advanced economy in the Asia-Pacific region, with a per capita GDP of around USD26,000 by 2035. Consequently, ASEAN, along with mainland China and India, will be a key driver of economic growth in the APAC region in the coming decade.

THAILAND’S MARKET SCENARIO AND NEW CONSUMERS HABITS

Demand for premium and luxury items represents 28% of the Thai market in terms of revenue. The increase of average incomes, as well as greater financial independence for women, are impacting positively on products with higher quality and safety standards.

Furthermore, the increasing consumer awareness of sustainability and health concerns is driving the demand for natural and organic beauty products, which are becoming the best performing segment, not only in Thailand but in the whole ASEAN region. While the sunscreen products segment is registering the highest growth, grooming products are obtaining great revenues too.

Cosmoprof CBE ASEAN provides an exciting overview of the region’s local markets, highlighting its innovative offerings and initiatives, and ensuring that successful business partnerships can flourish.

For further information please visit www.cosmoprofcbeasean.com