Beauty Product Opportunities to Indonesia, Malaysia and Vietnam

Description

- Indonesia is projected to be the world’s 7th largest economy by 2030
- Indonesia’s ‘consuming’ class number 45 million and is forecast to increase to 135 million by 2030
- Imported cosmetic sales in 2015 reached US$441 million
-Indonesian consumers are becoming increasingly aware of their wellbeing
- The cosmetics sector has grown 10%-15% annually due to increases in disposable income and aggressive marketing efforts by cosmetics companies
- People in urban areas of Indonesia are the biggest consumers of cosmetic products, while the rural population is showing higher interest in personal care products
- The Indonesian Government is prioritizing cosmetics as a focus of its National Development Plan for Industry until 2019
-The large Muslim population in Indonesia is a huge potential market for halal beauty products. The majority of Halal products are still offered by local manufacturers
- Local partners (distributor/importer) are mandatory