The prospect of wrinkle-resistant cosmetics is promising in Thailand

The birth rate in Thailand from 1975 to 1980 was 3.9 newborns per 1,000 people, from 1995 to 2000, 1.77 were born, and by 2015 to 2020, it decreased to 1.53. On the contrary, the average life expectancy in Thailand was 63.31 years in 1975-1980, 70.30 years in 1995-2000 and 76.83 years in 2015-2020. According to the United Nations World Population Prospects Report, Thailand is the second ASEAN country to rapidly enter an aging society after Singapore. The report speculates that by 2020, Singapore, Thailand, Malaysia and Vietnam will enter an aging society, of which Thailand accounts for about 13% of the elderly population.

With the increase of the elderly population, it will bring about changes in living and consumption patterns, as well as increased attention to health and health, and related consumption will also increase.

According to the analysis of Kasikorn Research Center in Thailand, wrinkle-resistant cosmetics and hairdressing products will be welcomed by the elderly in cosmetics and personal care products, especially anti wrinkle cream, is considered an essential product in the cosmetics category of Thailand consumers who are buying high-end products.

Korean cosmetics, as a representative beneficiary category of Korea-ASEAN FTA, benefit from the influence of Korean Current, the annual imports are increasing dramatically. In 2018, the imports of Korean skin care products accounted for 11.4% of the overall market, ranking third after France and Japan.

KOTRA said that "Thailand has entered an aging society and is being seen as an opportunity to look forward to the introduction of Korean superior products and services such as beauty care products, family medical instruments, sports equipment and so on to Thailand more and more."