THE leading China-based suppliers to the cosmetics industry could pivot to Southeast Asia (SEA) to stay afloat during the trade war with the US, a market research firm said.
Informa Markets added that the Philippine cosmetics market will be driven by e-commerce channels, though it may not escape the trade war fallout, which poses a risk to the firm’s 5.8% growth projection for the country.
Informa Markets Philippine General Manager Rungphech Chitanuwat said: “This year, I think (hitting the growth projection) will be difficult. The difficulty is geopolitical. The second thing is the ingredients to make cosmetics are mainly from China, and the US-China trade war may slow things down,” she said.
“However, we speculate that China will shift their interest into the Southeast Asian market. That would be the benefit. But we don’t see any sudden improvement,” she added.
The Philippine beauty and personal care market was valued at $3.7 billion in 2024, and is projected to grow to $11.05 billion in the coming years.
Informa Markets is organizing a business-to-business (B2B) beauty trade show, Cosmobeauté Philippines, which will run between June 4 and 6 at the World Trade Center.
Expected participation is 250 brands from 20 countries and up to 7,000 visitors.
“I am excited for the opportunities that Cosmobeauté Philippines will bring as it redefines the beauty trade landscape in the Philippines,” she said.
“This is not just a beauty show or showcasing products, but it is all about fostering meaningful connections, sharing innovations, and empowering industry professionals,” she added.
Trade Assistant Secretary Nylah Rizza D. Bautista said that the trade show is a continuation of the department’s pilot beauty fair last year.
“We held it in SM Megamall and brought about 83 micro, small, and medium enterprises, but that was more on the retail side,” she said.
“This time, we are focusing on B2B as we are talking to the wellness entrepreneurs, salon owners, and cosmetologists that can bring in more of the bulk sales,” she added. — Justine Irish D. Tabile