Malaysia Cosmetic Overview
Malaysia's total trade for cosmetics and personal care in 2015 was valued at RM8.83 billion and about 50% of the trade was met by import which valued at RM4.45 billion. Since then, the domestic production of cosmetics and toiletries products in Malaysia has been increasing its foothold in the market .
Malaysia's population size in 2016 is 31.9 million which comprises 52.69% of total population is men and 48.31% is women . Furthermore, from 48.31% of women population 46.8% are in workforce which have the purchasing power for themselves. In terms of consumer group, the younger generation females age group of 12-25, with a high school or higher education level, urban dwellers who resides in middle to upper-middle income households tend to purchase the Korean branded products due to the massive advent of K-pop and K-drama in Malaysia. It is also due to the price for Korean cosmetics and personal care products that are available are more affordable in comparison to the U.S., EU, Australian and Japanese products. Meanwhile, the 25-54 age group is more open to U.S., EU, Australian and Japanese products.
1)Asia Personal Care & Cosmetics Market Guide 2016, U.S. Department of Commerce Forecasts
2)Department of Statistics Malaysia