THE BEAUTY INDUSTRY IN SOUTH-EAST ASIA KEEPS GROWING, AS PROVED BY THE RECORD RESULTS OF COSMOPROF CBE ASEAN 2024

Bangkok, June 21, 2024

The Southeast Asian markets are recording double-digit growth percentages from 2023 to 2024 according to the international analysts of Euromonitor International. Malaysia records the highest average annual growth rate in the region for the 2024-2028 period, with a projected growth of 16%. The Philippines are registering great results, too, with an expected growth in 2024 of 11%. The same percentage of increase is projected for Thailand's average annual turnover, thus proving to be the best location to host the most prestigious b2b trade show dedicated to the cosmetics industry in the region.

THE RESULTS OF COSMOPROF CBE ASEAN

The third edition of the exhibition has come to an end last week, on June 15, with extremely positive results. The exhibition saw 16,636 stakeholders coming from 59 countries and regions, a growth rate of +26% compared to the 2023 edition. International visitor numbers also increased by 28%, with significant increases from key Asian markets including China, the Philippines, South Korea, India and Japan, confirming the growing prestige and recognition of Cosmoprof CBE ASEAN as the leading event for discovering new trends and product launches in ASEAN countries and beyond.
For three days, from June 13 to 15, over 1,500 companies and brands from 18 countries and regions, including 4 country pavilions from China, Italy, South Corea and Thailand, presented their latest products at the Queen Sirikit National Convention Centre in Bangkok, providing importers, retailers, distributors, brand companies, and professionals an overview of all the beauty sectors, from ingredient to branded finished product. Special thanks to ITA – Italian Trade Agency, which organized the Italian country pavilion.
Educational sessions and insights dedicated to the main trends were highly appreciated, together with the World SPA & Well-being Congress 2024, CosmoTalks and Cosmo Onstage demos on the show floor. International experts outlined the main challenges and opportunities in the beauty ever-evolving market, sharing their thoughts with over 500 stakeholders.

A NETWORKING HUB FOR TOP BUYERS AND COMPANY REPRESENTATIVES

The Cosmoprof exclusive Buyer Program hosted 337 buyers from Thailand, ASEAN countries, Asia Pacific, Europe and the Middle East in Bangkok, providing a crucial initiative that promoted meaningful connections between exhibitors and esteemed buyers. As many as 45% came from outside Thailand. Operators and brands scheduled tailor-made B2B meetings thanks to the Match&Meet platform, thus maximizing their presence on the show floor and sharing comments and know-how on the local industry.
“The Match&Meet platform was a useful tool for connecting with clean, ethical, sustainable beauty brands and giving me the flexibility to adjust and change my schedule if needed”, said Brooke Bergé, Division Manager – Beauty Distribution at Ali Bin Ali (Qatar). “Attending Cosmoprof CBE ASEAN was a surprising experience for me; I managed to connect with new interesting brands to add to my portfolio, and I had the chance to discover brands from the ASEAN region, which I never met before.”
"As a buyer looking for innovative packaging solutions for our products, participating in Cosmoprof CBE ASEAN was a strategic choice, both because I found new manufacturers and useful contacts and because it was an opportunity to confront the needs of a different

THE BEAUTY INDUSTRY IN SOUTH-EAST ASIA KEEPS GROWING, AS PROVED BY THE RECORD RESULTS OF COSMOPROF CBE ASEAN 2024

16,636 stakeholders and more than 1,500 companies and brands attended the third edition of Cosmoprof CBE ASEAN, confirming the region as one of the best performing beauty markets market and understand what elements are needed to make your way in the ASEAN market”, echoed Giorgia Del Fabbro, Buyer at Biofarma Group (Italy).
“Cosmoprof CBE ASEAN was an outstanding event that exceeded all of our expectations. The organisation and execution were flawless, and the variety of exhibitors provided invaluable networking opportunities. We made several promising new connections that we believe will lead to fruitful business partnerships in the near future. Kudos to the entire team for putting together such a remarkable trade show experience.” said Albert Leung, Procurement Director, Mentholatum (Asia-Pacific) Limited (Hong Kong).

“The Buyer Program was great, and it drove me to come." said Jest Wong, Managing Director, Westwood Clinic (Malaysia). "Overall, I was highly satisfied and really enjoyed the show. It helped me to source good information as well as vendors. It was beyond expectations that I could identify some products that I did not expect to be able to source here. The size for Cosmoprof CBE ASEAN was perfect, and the service and organization were also exceptional.”

TRENDS AND NOVELTIES ON THE SHOW FLOOR

Cosmoprof CBE ASEAN 2024 recorded an impressive growth across the exhibition offering, providing an overview of the main trends and categories guiding the development of beauty in the ASEAN region. Spotlights on medical beauty and beauty supplements pointed towards the main trends of the ASEAN region, while special initiatives showcased the finest offerings among exhibitors along with Made in Thailand cosmetics and Thai Premium brands. The holistic approach in beauty and local traditions are also playing a key role in the perception and approach of both domestic and international consumers.
The great variety of products and services on the show floor and the presence of key players in the industry played an important role in offering a rich and performing experience to 2024 exhibitors.
“It was our first time exhibiting at Cosmoprof CBE ASEAN in Bangkok,” commented Catarina Pacheco, Marketing Manager at Scents from Nature (Portugal). “As essential oils manufacturers, we are trying to enter the ASEAN market, and the balance is very positive: we got a lot of contacts, but most importantly, high-quality contact, mostly from Thailand, but also from China, Japan, Korea, India and Australia.”

“We are impressed by the quality of leads we got at Cosmoprof CBE ASEAN,” said Gabriel Radulescu, Sales Manager at Of The Islands (The Netherlands). “As first-time exhibitors, we didn’t expect to have such a great return, managing to get high-quality leads from the wellness and SPA sectors. The Southeast Asian market is growing and eager to get new wellness-management products, so exhibiting at Cosmoprof CBE ASEAN was a strategic choice for our business.”

“Our participation in Cosmoprof CBE ASEAN proved to be very fruitful for our company, and we registered interest beyond our expectations,” highlighted Alice Toninelli, Business Development at Beauticon Valley Holding (Italy). “The level of preparation of the interlocutors was very high, which resulted in a quality experience that opened up new business opportunities for us. We obtained contacts from even hard-to-find and hard-to-access markets, such as Brunei, Nepal and Azerbaijan.”

"After participating in Cosmoprof CBE ASEAN for two consecutive years, I feel the attendees are becoming more professional." says Kelly Cheng, Founder of High's Personal Care Products Limited (China). "At this exhibition, we engaged with customers from neighbouring ASEAN countries like the Philippines, India, and Dubai, as well as senior buyers from France. We look forward to communicating further with these customers to forge new partnerships."

ASEAN REGION AS GROWING MARKET FOR COSMETICS

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 from free trade agreements with China, India, Japan, South Korea, Australia, New Zealand, and Hong Kong. The country hosts the highest number of local manufactures 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 chose the country as their production center, thanks to investments offered by Thai government for cosmetics brands up to 8 years, with an 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 USD 26,000 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.

SAVE THE DATE FOR COSMOPROF CBE ASEAN 2025

Following the successful 2024 edition, Cosmoprof CBE ASEAN looks forward to welcoming back beauty stakeholders from ASEAN and around the world in 2025, when the fourth edition of the show will run from 25 to 27 June, once again at the Queen Sirikit National Convention Centre in Bangkok.

For further information please visit www.cosmoprofcbeasean.com