Indonesia's Beauty and Personal Care Product Revenue Soars to Rp111.83 Trillion in 2022

According to a Statista report, revenue in the Beauty & Personal Care market reached US$7.23 billion or Rp111.83 trillion (with an exchange rate of Rp15,467.5 per dollar) in 2022. The market is projected to grow annually by 5.81% (CAGR or compound annual growth rate from 2022-2027).

In detail, the largest market segment was personal care, with a market volume of US$3.18 billion in 2022. This was followed by skincare at US$2.05 billion, cosmetics at US$1.61 billion, and fragrances at US$39 million.

In relation to the population, per capita revenue from the beauty and personal care market in Indonesia amounted to US$25.90 in 2022. In the Beauty & Personal Care market, 15.8% of total revenue was generated through online sales in 2022.

Based on a 2021 survey by the Katadata Insight Center (KIC) and Sirclo, there was a shift in the product categories most favored by consumers when shopping online. The number of transactions for health and beauty products increased to 40.1% during the Covid-19 pandemic. This figure is up from 29.1% in 2019.

The increase in health and beauty product transactions surpassed that of fast-moving consumer goods (FMCG). FMCG transactions only grew from 30.5% in 2019 to 31.2% in 2020/2021.

The high transaction volume for health and beauty products and FMCG is attributed to people spending more time at home. Furthermore, public awareness of health increased during the Covid-19 pandemic.

(read: List of the Most Popular Vegan Cosmetics in Indonesia According to Populix)