The third edition of Cosmoprof CBE ASEAN is ready for kick-off. From 13 to 15 June 2024 the Queen Sirikit National Convention Centre in Bangkok will host over 1,500 brands and companies from different countries and regions with a strong attention on the most innovative launches and market trends. The show serves as the gateway to ASEAN and neighbouring countries encompassing all the beauty sectors, from ingredient to branded finished product.
According to EUROMONITOR INTERNATIONAL, Southeast Asian markets are growing year after year with double-digit growth percentages from 2023 to 2024. Thailand is one of the best performing markets in the region, with an expected increase up to 11% compared to 2023.
For brands and suppliers wishing to take advantage from the positive economic scenario, Cosmoprof CBE ASEAN represents a unique opportunity to boost their business. The last edition hosted more than 1,000 exhibitors and brands, 57% of them coming from overseas countries. 13,255 attendees participated in the event, coming from 69 countries and regions
For 2024, more than 14,000 attendees are expected to visit the show, looking for novelties and innovative solutions across over 22,000 square meters. Currently, international companies comprise 62% of the total exhibition area, with 54% from Asia Pacific and 8,2% from the EU and rest of the world. The supply chain segment accounts for 58% of total sqm, while finished products represent 42%. Participating companies span diverse regions, including ASEAN, Asia Pacific, Europe, and the Americas. Additionally, the event features four country pavilions, further enriching the global experience: China, Italy, South Korea, Thailand.
Cosmoprof CBE ASEAN will facilitate networking between the supply and demand. The Cosmoprof exclusive Buyer Program serves as a crucial initiative to promote meaningful connections between exhibitors and esteemed buyers, both locally and internationally. In June over 300 top buyers from Thailand and other international destinations will be attending the exhibition, with delegations from ASEAN, Asia-Pacific, Europe, the Middle East, and other parts of the world. To streamline these engagements, the Match&Meet platform will enable stakeholders to schedule tailor-made B2B meetings. Leveraging Match&Meet, companies can pre-arrange meetings, ensuring that valuable networking opportunities will be held onsite.
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 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 centre, thanks to investments offered by Thai government for cosmetics brands up to 8 years, to the easy access to high quality ingredients and raw materials, and to lower costs compared to neighbouring 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.
THAILAND’S MARKET SCENARIO AND NEW CONSUMERS HABITS
Demand for premium & luxury items demand represents the 28% of the Thai market in terms of revenue. The increase of average income, as well as the greater financial independence for women, are impacting positively on products with higher quality and safety standards.
Further to that, 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.
Sunscreen products are the segment registering the highest growth, but grooming products are obtaining great revenues, too.
Cosmoprof CBE ASEAN is facing local market as well as ASEAN needs adapting its offer and tools and proposing dedicated special areas with specific partnerships and initiatives. Cosmoprof CBE ASEAN 2024 will be held from 13 to 15 June, in the Queen Sirikit National Convention Centre, in Bangkok.
For further information please visit www.cosmoprofcbeasean.com
For online visiting registration, please click here.
