Beauty & Personal Care - Cambodia

Cambodia

The Beauty & Personal Care market in Cambodia is projected to generate a revenue of US$1,038.00m in 2024.
Over the period of 2024-2029, the market is expected to experience an annual growth rate of 3.10% (CAGR).
Among the various segments in this market, Personal Care holds the largest share, with a market volume of US$479.50m in 2024.
When compared globally, in the United States emerges as the top revenue-generating country in this market, with a revenue of US$101bn in 2024.
In terms of per capita revenue, in Cambodia is estimated to generate US$60.62 per person in 2024.
As for the online sales, it is projected that 21.5% of the total revenue in the Beauty & Personal Care market will be generated through online channels by 2024.
Despite being a developing country, Cambodia's beauty and personal care market is experiencing rapid growth driven by increasing disposable income and a growing middle class.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market in Cambodia is witnessing sluggish growth, influenced by factors such as limited consumer purchasing power, evolving beauty standards, and the gradual integration of digital shopping platforms, which are reshaping consumer engagement.

Customer preferences: Consumers in Cambodia's Beauty & Personal Care market are gravitating towards natural and organic products, reflecting a growing awareness of health and sustainability. This trend is fueled by a younger demographic that prioritizes eco-friendly brands and seeks transparency in ingredient sourcing. Additionally, social media influencers play a pivotal role in shaping beauty standards, driving interest in diverse skincare routines and cosmetic innovations. As urban lifestyles evolve, there is also an increasing demand for convenient, multi-functional products that cater to busy schedules.

Trends in the market: In Cambodia, the Beauty & Personal Care market is experiencing a significant shift towards natural and organic products, driven by a younger demographic that values health, sustainability, and transparency in ingredient sourcing. This trend is gaining momentum as eco-conscious consumers increasingly favor brands that prioritize environmental responsibility. Social media influencers are pivotal in this landscape, shaping beauty standards and promoting diverse skincare routines that resonate with millennials and Gen Z. Furthermore, the rise of urban lifestyles is fueling demand for convenient, multi-functional products, compelling brands to innovate and adapt to these evolving consumer preferences.

Local special circumstances: In Cambodia, the Beauty & Personal Care market is uniquely shaped by its rich cultural heritage and traditional beauty practices that emphasize natural ingredients, such as herbal remedies and local botanicals. The influence of traditional Khmer beauty rituals fosters a strong preference for products that highlight authenticity and local sourcing. Moreover, regulatory frameworks promoting sustainable practices further encourage brands to align with eco-friendly principles. This blend of cultural significance and regulatory support drives innovation, as brands increasingly introduce products that reflect Cambodia's unique beauty landscape while resonating with the global trend towards sustainability.

Underlying macroeconomic factors: The Beauty & Personal Care market in Cambodia is significantly influenced by macroeconomic factors such as consumer spending power, urbanization, and global economic trends. As the national economy continues to grow, rising disposable incomes enable consumers to invest more in beauty products, driving demand for premium and sustainable options. Additionally, the increasing urban population fosters a culture of modern beauty practices that blend traditional values with global trends. Fiscal policies that support local businesses and sustainable practices further enhance market potential, encouraging innovation and competition among brands. This dynamic environment positions Cambodia as an emerging hub in the global beauty landscape.

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.