Indonesia: Southeast Asia's Second Largest Cosmetics Market in 2024

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Akbar Ridwan 20/08/2025 17:05 WIB

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According to a Source of Asia study, Indonesia become the second largest cosmetics market in Southeast Asia in 2024, one rank below Vietnam.

Southeast Asian Cosmetics Market Share in 6 Key Countries (June 2024)

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Southeast Asian Cosmetics Market Share in 6 Key Countries (June 2024)

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According to Source of Asia, the cosmetics market in the six major Southeast Asian countries will reach US$5.6 billion in 2024.

Indonesia is the second-largest cosmetics market, one rank below Vietnam.

The following is a breakdown of the cosmetics market share in the six major Southeast Asian countries in 2024, according to Source of Asia:

Vietnam: 41%
Indonesia: 33%
Thailand: 11%
Philippines: 7%
Malaysia: 7%
Singapore: 2%

"Vietnam and Indonesia are leading the way, driven by the acceleration of e-commerce, social commerce, and a dynamic influencer economy," Source of Asia stated in its report (June 24, 2025).

"With a projected market value of US$5.6 billion in 2024, this region has become attractive to international brands, new digital brands, and local innovators," it continued.

According to Source of Asia, several factors are driving the growth of cosmetics sales in Southeast Asia, including:

Increased per capita income;
Tech-savvy Gen Z consumers;
Growing preference for products with clean ingredients, halal certification, and multi-functionality.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."