TradeMonday - Retail Data and Insight PlatformE-commerce has experienced a significant rise worldwide including Thailand in recent years and spans various segments. The beauty segment is no exception to this.
According to Statista, revenue in the Beauty segment in Thailand is projected to reach USD 361.6 million in 2023, with an annual growth rate (CAGR 2023-2027) of 48.2%, resulting in a projected market volume of USD 536 million by 2027. Cosmetics account for most of this growth.
Shopee and Lazada are the key e-commerce players in this market with Shopee taking up 30% of the brand share according to Statista.
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