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
Not yet a Subscriber?
This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.
Subscribe now Already a subscriber? Sign in here.
