There’s a growing business opportunity, and the Ministry of Commerce urges Thai entrepreneurs to take advantage of it.
According to Thailand’s Department of International Trade Promotion (DITP) in Guangzhou, the kid cosmetic market in China has grown by 300% over the past year.
Meanwhile, studies have projected that between 2019 and 2024, the global market for kid cosmetics will grow by 8.66% per year. By the end of 2024, the size of the market will be worth some 23.57 billion US dollars.
Why are so many kids putting on makeup?
In an article by the National News Bureau of Thailand, Somdet Susomboon, Director General of DITP, pointed to the parents who nurture their children to enter the beauty, fashion, and entertainment industries.
From beauty pageants to casting calls and talent contests, cosmetics are a competitive advantage.
This is true in China, Thailand, and worldwide. Hence, Thai businesses are encouraged to take advantage of the global trend to become producers and exporters of kid cosmetics, especially for the Chinese market.
Meanwhile, in the USA.
According to glocal market researcher Mintel, in 2018, 80% of American children aged 9-11 use chapsticks, powder puffs, scented lotion, and other basic cosmetics. Those aged 12-14 use mascaras, eye shadows, eyeliners, and eyebrow pencils.
The main reason given by the kids is that makeup help to boost confidence.
Meanwhile, in South Korea.
K-pop has long graduated from a regional phenomenon into a global phenomenon. Of late, the industry known as K-beauty has been targeting children as young as kindergarten to sell cosmetics.
This video from the popular Korean Youtube channel, Lime Tube, shows a young girl’s passion for makeup.
The main reason given is that young children want to be like their favorite pop idols or anime characters.
Meanwhile, in Thailand.
According to the website www.thaicosmetic.org, a study shows that there are more than 1,800 cosmetic businesses in Thailand, 90% of whom are SMEs, with a combined registered capital of 11 billion baht.
The cosmetic industry in Thailand is robust and grow rapidly, despite the recent effects of COVID-19 and lockdown restrictions.
Brand-name fashion for kids has been around for years; cosmetics for kids is also a growing business. As Thailand takes its pop-culture cue from the west and our northern neighbors, South Korea, Japan, and China, if more and more kids everywhere else are wearing makeup, then more and more kids in Thailand are doing the same.
In the age of TikTok, Youtube, and Instagram, where a nine-year-old child can achieve instant worldwide stardom, beauty and cosmetics are merely the way to get there.
It is both a lifestyle and a business opportunity.
