A surge in foreign investment in Thailand’s fragrance oil and aroma compound production is anticipated, which can boost the nation’s cosmetics industry, according to the Federation of Thai Industries (FTI).
The cosmetics market in Thailand is the largest in ASEAN. In 2023, the market value increases by over 11% year-on-year, reaching about 260 billion THB (7.2 billion USD). (Photo: bangkokpost.com)
Bangkok (VNA) – A surge in foreign investment in Thailand’s fragrance oil and aroma compound production is anticipated, whichcan boost the nation’s cosmetics industry, according to the Federation of Thai Industries (FTI). KetmaneeLertkitcha, FTI’s Health and Beauty Sector Chairperson saidthat Thailand has a potential to become a hub for the health and beauty sector and Thailand’s unique floral scents are in high demand globally, makingit an attractive prospect for foreign firms looking to invest in fragrance oilproduction. She added that Thailand’srich raw materials make it an ideal location for developing the health andbeauty industry. The government’s promotion of bio-, circular, and green economicdevelopment aligns well with the circular beauty trend in the cosmeticsindustry, a process that involves upcycling ingredients to minimise waste andbenefit the environment. The cosmetics market inThailand is the largest in ASEAN. Last year, the market value increased by over11% year-on-year, reaching about 260 billion THB (7.2 billion USD). Thailand exports around 60% ofits beauty products, with the remaining 40% sold domestically. The countryexported beauty products worth 86 billion THB last year, according to Ketmanee./.
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The cosmetics market in Thailand is the largest in ASEAN. In 2023, the market value increases by over 11% year-on-year, reaching about 260 billion THB (7.2 billion USD). (Photo: bangkokpost.com) 
