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    Breaking News

    Beauty Grows in Indonesia

    CAGR of 9.6% through 2023, says GlobalData.

    Beauty Grows in Indonesia
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    04.24.19
    The Asian beauty market is bigger than China...much bigger. Fuelled by positive economic growth supported by heavy manufacturing investments, the cosmetics & toiletries industry in Indonesia is expected to grow at a compound annual growth rate (CAGR) of 8.4% from Rp70.3 trillion ($5 billion) in 2018 to Rp105.1 trillion ($7 billion) by 2023, says GlobalData, a leading data and analytics company.

    GlobalData’s report, Country Profile: Cosmetics & Toiletries in Indonesia, reveals that skin care products, which held the largest value share of 31.1% in 2018, are forecast to record the fastest growth with a value CAGR of 9.6% over 2018-2023. 

    Anugna Victor, Consumer Analyst at GlobalData, says: “Growing population and a decreasing unemployment rate are expected to drive the growth of the industry in Indonesia, as consumers become more image conscious and start opting for cosmetics & toiletries products.” 

    The report further points out that Indonesia’s value share in the Asia-Pacific (APAC) region, which stood at 3.1% in 2018, is expected to remain steady through 2023.

    The per capita consumption (PCC) of cosmetics & toiletries in Indonesia, which was low at 9.5 units compared to both APAC and global levels in 2018, is forecast to increase to 11.6 units by 2023.

     

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