Cosmetics industry poised to maintain 10% growth this year

THE beauty and personal care industry is expected to sustain 10% growth this year, driven by product innovation and improved regulation.

“There are a lot of innovative products. And the regulations are also improving,” according to Christine Michelle P. Reyes, president of the Chamber of Cosmetics Industry of the Philippines, Inc.

Speaking on the sidelines of the Cosmobeauté Philippines 2025, she said beauty and personal care products continue to register “healthy” growth at retail level by volume and value. Last year, the value of beauty and personal care products grew at retail by 10.1%.

“The consumption pick-up in the previous year was due to lifestyle changes and easing of inflationary pressures,” she said.

“Middle-income groups are also growing in the Philippines alongside urbanization, with provincial areas attracting new consumers through the development of modern grocery retailers,” she added.

She said growth can also be attributed to improved consumer purchasing power due to easier access to credit.

She noted growing demand for sun care and sustainable products.

“The best-selling products are products that integrate SPF protection, and also climate and environmental issues are increasingly top of mind for players in beauty and personal care,” she added.

Trade Secretary Ma. Cristina A. Roque said Philippine beauty and personal care companies are ready to go global.

“This is our first time joining an international trade show such as this… I feel we really have companies that are ready to go global, especially those with products that are coconut-based and healthy,” she said.

“That will be the direction of Philippine products. We also have to be strategic in our approach when we sell our products because there are so many products from all over the world, and what can be our edge? Definitely the coconut-based products,” she added.

She said that most Philippine products are plant-based and organic, which could present a favorable contrast to products in the market that�� are heavy on chemicals.

However, she said domestic companies are being challenged by the growth of e-commerce.

“We have a lot of products now from Korea, China, and Japan, some of which are really low-priced,” she said.

“But we are very competitive also because the cost of production in the Philippines is not that high,” she added.

She said that prospective countries for beauty and personal care exports include Thailand and Hong Kong, as well as the rest of ASEAN.

Scheduled to run from June 4 to 6, Cosmobeauté Philippines will be showcasing 250 brands and companies and business-to-business events.

“The journey towards Cosmobeauté Philippines 2025 is an interesting and empowering one,” said Rungphech Chitanuwat, country general manager of Informa Markets Philippines, the organizer of the event.

“This edition holds importance as it sets the latest trend and standard in events focused on skincare and cosmetics in the country,” she added.

Cosmobeauté Philippines serves as the kick-off event for the Cosmobeauté trade shows in Southeast Asia, such as Vietnam, Malaysia, and Indonesia. — Justine Irish D. Tabile