A Roadmap For Cosmetic Growth And Innovation In Indonesia

From https://connect.in-cosmetics.com
May 17 , 2023 by Mediana Hadiwidjaja President Director of Infinisia Sumber Semesta

Put simply, the cosmetic industry in Indonesia is developing at a remarkable pace. Statistics from the Indonesian FDA (BPOM, Indonesia’s National Drug and Food Control Agency) show that the industry, which includes the pharmaceutical, chemical, traditional medicine and cosmetic industry sectors experienced a growth of 9.61% in 2021.

New brands compete and blossom in Indonesia

In parallel, within a year (2021 to 2022), the number of cosmetic companies in the country jumped by over 20%, from 819 to 913 entities.

The emergence of new industries inevitably leads to the proliferation of new brands, which must navigate a variety of challenges and issues in order to establish themselves as viable and successful enterprises within the market.

A major challenge that new brands face is the need to differentiate themselves from existing competitors. In the sunscreen market, for instance, emerging brands must compete against established players such as Azarine and Wardah, as well as other large brands.

Wardah Sunscreen

Additionally, with the influx of Chinese brands into the Indonesian market, there is intense competition and pricing pressure as these newcomers regularly offer lower prices to capture market share.

Thus, it is imperative for new brands to effectively communicate their value proposition to their target audience in order to succeed.

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