Global Market Surferby INTAGE Inc

[Thailand] Thailand Health Trend 2024 (Part 2)

This article would aim to cover some emerging trends in the market, opportunities, consumer preferences, and health concerns that are currently shaping Thailand’s health and wellness industry.

Continuing from the first part, the second part will focus on one of the topics of interest to Thai consumers regarding health and wellness: skin care and beauty.

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3. Skincare and Beauty Trends

Despite some slowdown during the pandemic, the skincare and beauty sector has rebounded and bringing in new opportunities for brands. However, consumer are becoming more individualistic – seeking customized offerings, they also seek for something more holistic. Beauty nowadays is not only about the outside, but inside as well. They look for something that makes their skin strong and healthy inside-out. Their level of expectation towards product efficacy also increased. Product that combines multiple benefits are seeing better popularity as well. There are 4 main trends that we see for beauty products.

①    Sensible Price
As inflation and price increase, the consumer combine different products into their regime. The affordable mass brands, and look for premium brands that are highly effective.
Some products, such as moisturizer, which are considered as basic products the consumer would look for something cheap and simple while splurging more on targeted serums. Some manufacturer thus, creates a sachet packaging so that consumers can buy these products at a much affordable price.

②    Easy access and Expert
Brands must also balance between both online and offline experience. Although online is the norm.Online itself marks as the number one channel for beauty with roughly 27% market share against other channel (*1).   However, the online landscape is very fragmented. There are traditional platforms such as Facebook, Lazada, and Shopee, but new players such as TikTok and e-retailers are growing very fast. The brand should position each platform to capture different group of shopper. However, the need for browsing and seeking advice remains quite prominent in the beauty industry. The demand for offline store is still much bigger comparing to that of online. Majority of these multi-brand store such as Watsons or EVEANDBOY remain very important as they provide easy access to the product and also expert beauty advisors in-store assisting the shoppers as well.

③    Less is more
The makeup trend itself is changing and consumers are now wanting to achieve those natural, fresh and unpolished look. Consumers nowadays seek out for strong and healthy skin, in contrast to 5 to 10 years ago where people would immediately answer white and flawless skin. This has driven the change in makeup where they would aim for natural and bare color with nude and soft tones instead of vivid color. They also seek out for base makeup that are more light coverage or using as a BB/CC cream with just some color correction. Consumers also seek out for makeup product that provides skincare benefits as well, hence, the rise of cushion trend. Makeup must also last long (all-day luminous or lipstick that doesn’t fade off) are also seeing more importance.

④    Fundamental
The trend nowadays is for consumer to stick to the fundamental. Various brands are shouting out messages for the consumers to simplify their routine. Cleanse, nurture, and protect are the key main idea many brands are telling the consumers to follow. With this, brands are claiming multiple benefit for a single product. In the past, the product might only say it prevents acne. Nowadays, the message turns into it helps to make the skin stronger, and in turn, reduces chance of acne.

Challenges and opportunity in promoting health and wellness in Thailand

With all these we can see that Thailand is a very unique market that is highly competitive. The market itself is increasingly crowded with both local and international brands. Brand requires significant innovation and marketing to stand out from the crowd. Consumer education and awareness is also another key challenges as misconception about certain ingredient can hinder market growth. The varying level of literacy among population can impact the effectiveness of new product adoption. As there is strong economic disparity, there’s a significant difference in the ability to access health and wellness products between urban and rural areas, brands must pick their bullseye target carefully.

However, we do see rising demand for healthy products among the growing middle class with disposable income, Thais also have a growing focus on preventive health measure which helps drives demand for supplements, fitness products, and healthy foods. The demand for sustainable and eco-friendly product is growing. Brands that can prioritize environmental sustainability in their sourcing, production, and packaging can gain a competitive edge.

Overall, Thailand presents a dynamic landscape for health and wellness consumer goods, with significant opportunities for growth and innovation. However, brands must navigate challenges, market competition, and varying levels of consumer awareness to succeed. By focusing on sustainability, leveraging technology, and engaging in effective consumer education and marketing strategies, companies can capitalize on the burgeoning health and wellness market in Thailand.

    Reference

*1) 2023 Thailand Beauty Trends, Intage & Kantar World Panel 
https://www.global-market-surfer.com/report/detail/218


[Thailand] Thailand Health Trend 2024 (Part 1)
https://www.global-market-surfer.com/pickup/detail/486/

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  Author profile

  Chaiyoot Chulphongsathorn

  With experience from both research agency side and client side, Chaiyoot (Top) has used his knowledge to help turning insights into business action. He mainly takes care of FMCG and retail client at both local and regional level.

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  Editor profile

  Risa Takahama

  Global Market Surferのサイト作りを担当。FMCGカテゴリーを中心に海外生活者に関する情報を発信しています。

• Jun 28, 2024
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