According to overseas data from Magic Mirror, Thailand ranks second in the Southeast Asian online beauty and skincare market.
1.The combined annual sales value of beauty and personal care products on both Shopee and Lazada platforms in Thailand reached nearly $1.4 billion in 2023, marking a 45% year-on-year increase.
2.The beauty and personal care market on the Shopee platform in Thailand gained momentum starting from August 2023, with the fourth quarter accounting for over 40% of the annual sales revenue. Lip cosmetics emerged as a rapidly growing subcategory worthy of particular attention.
3.In 2023, the sales value of lip cosmetics on the platform amounted to 36 million USD, marking a 110% year-on-year increase. Within the lipstick category, matte lipstick, lip balm, and lip gloss emerged as the most popular products in the Thai market, with matte lipstick being the preferred choice among Thai consumers. Additionally, given Thailand's hot weather and the prolonged exposure to air-conditioned environments, dry lips are a common issue. Consequently, lip balms with sun protection and moisturizing properties became the top choice for consumers.
Additionally, due to the hot weather in Thailand and the common occurrence of people spending long hours in air-conditioned spaces, lip dryness and chapping are common, making lip balms with sun protection and moisturizing effects a top choice for consumers.
