Beiersdorf (Thailand) Co, the manufacturer of Nivea and Eucerin skincare products, sees the region's skincare market as promising right now as the weather is getting drier and people are returning to their regular lifestyles following the pandemic.
Waraporn Likhitchanyakul, general manager of Beiersdorf Thailand, said the company's performance in the Indochina region is expected to register double-digit growth this year.
"We are expecting the company's sales to surpass pre-pandemic levels this year as people return to their normal lives, resulting in a higher demand for skincare products," she said.
In Thailand, sales of cosmeceutical products are expected to grow by double digits this year, with single-digit growth for the skincare group, Ms Waraporn said.
The fourth quarter of every year is normally considered to be the high season for skincare products due to the cooler climes and drier weather conditions, which increases demand for skincare products, she added.
She said the company expects its 2024 sales trends to be in line with previous years.
However, as the Thai economy is still challenging, the company believes consumers will opt for skincare products that offer value for money, while it will create impactful marketing campaigns to address this challenge.
Ms Waraporn said cosmeceutical products may not be affected by the current stagnant economy as consumers who want to use them will purchase them anyway, regardless of the economic conditions.
She said the company is dedicated to driving sustainable change not only within its business but throughout the entire value chain.
Through ongoing innovation in product and packaging design, the company is reducing potential environmental impacts while ensuring the use of renewable energy and responsibly sourced materials.
Furthermore, Beiersdorf engages with local communities, fostering social responsibility through initiatives that create careers and support sustainable livelihoods.
The company recently reaffirmed its leadership in the skincare industry's sustainability movement by transitioning its Thai manufacturing base to renewable energy through the launch of its first solar farm covering 14 rai, generating 100% green energy with a peak capacity of 999 kWp.
Surakha Wanphen, production centre director at Beiersdorf Thailand, said the company currently generates 25% of electricity from solar energy, with 10% coming directly from the solar farm.
This initiative will reduce carbon dioxide emissions by up to 800 tonnes per year, equivalent to the absorption of 50,000 trees.