Taiwan’s cosmetics sector is robust, but is being challenged by regulatory headaches, as Jens Kastner writes
Taiwan, now a high-income economy with a population of 23.6 million and a per capita income of US$22,453 in 2016 (International Monetary Fund), has been witnessing robust growth in cosmetics and personal care products manufacture.
In 2016, it grew by 5.99% year-on-year to new Taiwan dollars TWD21.1bn ($700m), according to an estimate by the Industrial Economics & Knowledge Center (IEK): a Hsinchu-based public-initiated think tank.
While Taiwan’s personal care manufacturing sector focuses especially on contract work for overseas clients, domestic demand also drives sales and this has been rising. Taiwan’s average annual personal care product per capita consumption was $153.80 in 2016, according to IEK.
Sales have also been boosted in recent years by an increase in arrivals of...
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