Growth rate at 400% in importing beauty products
Nowadays, Cambodia becomes the potential market for investment.
According GLOBAL MARKET RESEARCH 2014(1), in turnover, Cambodia is the 74th largest market globally and the 19th largest within Asia (Pacific).
Especially, the beauty business in the Kingdom is growing rapidly as incomes are rising, the middle-class is growing and about 74 per cent of Cambodia’s population was younger than 34 years old in 2011(2).
Table: The imported value on beauty & personal care in Cambodia from 2010 to 2014
(Unit : US Dollar thousand)
Product label | Imported value | Growth Rate (2013 – 2014) | ||||
2010 | 2011 | 2012 | 2013 | 2014 | ||
Beauty, make-up & skin-care preparations; sunscreens, manicure | 3,097 | 5,325 | 5,829 | 6,354 | 32,290 | 400% |
Hair preparations | 11,278 | 15,568 | 15,794 | 16,748 | 31,343 | 87% |
Oral & dental hygiene preparations | 1,893 | 2,198 | 1,955 | 1,807 | 16,554 | 800% |
Personal toilet preparations shaving preparations, deodorants etc. | 1,775 | 2,434 | 2,833 | 3,757 | 11,303 | 200% |
Odoriferous mixtures as raw materials for industry | 1,594 | 2,480 | 4,649 | 6,185 | 6,540 | 57% |
Perfumes and toilet waters | 283 | 597 | 479 | 872 | 5,035 | 477% |
Essential oils; resinoids; terpenic by-products etc. | 5 | 1 | 0 | 1 | 1,004 | 1000% |
(Source: ITC calculations based on UN COMTRADE statistics)
With the rapidly growth in 3 years lately, many foreign companies caught the opportunity to enter this blooming market. The B2B matching meeting of Turkish Cosmetics Cluster last December attracted many distributors and media. And Beauty Connect Expo Cambodia 2016, the only exhibition on beauty, that will be held from 4-5 September, 2016 in Phnom Penh, Cambodia is expected to give the beauty industry in Kingdom to be a new level. It will be the best platform for international companies and local buyers to meet and collaborate.
For those who are interested in joining the exhibition in the CAMBODIA BEATY CONNECT EXPO 2016, please visit the website: http://beautyconnectasia.com or contact Ms. Tracy at (+84-8) 3842 7755 – 13 or email: tracy.le@veas.com.vn
(1) The 26th annual industry study undertaken by ESOMAR, in cooperation with BDO Accountants & Advisors
(2) According the National Institute of Statistics.
