Skin Treatment - Thailand

Thailand

Highlights

In Thailand, the Skin Treatment market market generated a revenue of US$105.60m in 2024.
It is projected to experience an annual growth rate of 7.76% (CAGR 2024-2029).
When compared globally, the United States leads the market with a revenue of US$4.18bn in 2024.
Looking at the per person figures, in 2024, each individual in Thailand contributed US$1.47 in revenue.
Thailand has seen a surge in demand for natural and herbal-based skin treatment products in the OTC Pharmaceuticals market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Skin Treatment market in Thailand has been experiencing steady growth in recent years. Customer preferences for natural and organic skincare products have been driving this growth, as consumers become more conscious of the ingredients they are putting on their skin. Additionally, the rising middle class in Thailand has led to increased disposable income, allowing more consumers to afford skin treatment products and services.

Customer preferences: In Thailand, customers have shown a strong preference for natural and organic skincare products. This trend is driven by a growing awareness of the potential harm that synthetic chemicals can cause to the skin and the environment. Consumers are seeking out products that are free from harmful ingredients such as parabens, sulfates, and artificial fragrances. As a result, there has been a surge in demand for skincare brands that focus on using natural and organic ingredients.

Trends in the market: One of the key trends in the Skin Treatment market in Thailand is the rise of K-beauty products. Korean skincare brands have gained popularity among Thai consumers due to their innovative formulations and effective results. The Korean skincare routine, which involves multiple steps and the use of various products, has also been embraced by Thai consumers who are looking for a comprehensive skincare regimen. This trend has led to an increase in the availability of K-beauty products in the Thai market.Another trend in the market is the growing demand for anti-aging skincare products. As the population in Thailand ages, there is an increasing desire to maintain youthful and healthy-looking skin. This has led to a surge in demand for products that target specific aging concerns, such as wrinkles, fine lines, and sagging skin. Skincare brands have responded to this demand by developing products with advanced anti-aging ingredients and technologies.

Local special circumstances: Thailand is known for its hot and humid climate, which can have a significant impact on the skincare needs of consumers. The high levels of humidity can lead to increased oil production and clogged pores, making it essential for consumers to find products that can effectively control oil and prevent breakouts. Skincare brands that cater to the specific needs of Thai consumers by offering lightweight and oil-free formulations have gained popularity in the market.

Underlying macroeconomic factors: The rising middle class in Thailand has been a key driver of the growth in the Skin Treatment market. As more people move into the middle-income bracket, they have more disposable income to spend on skincare products and treatments. This has created a larger customer base for skincare brands and has led to increased competition in the market.Additionally, the tourism industry in Thailand has played a role in the growth of the Skin Treatment market. Thailand is a popular destination for medical tourism, with many tourists coming to the country for cosmetic procedures and skincare treatments. This has created a demand for high-quality skincare products and services, as tourists are willing to spend money on maintaining their skin while on vacation.In conclusion, the Skin Treatment market in Thailand is experiencing growth due to customer preferences for natural and organic skincare products, the popularity of K-beauty products, and the increasing demand for anti-aging skincare. The hot and humid climate in Thailand also presents unique skincare needs for consumers. The rising middle class and the tourism industry have been underlying macroeconomic factors driving the growth of the market.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.