Got Potential Market, Home Cosmetics Industry Assessed More Sheen in the Future

INDUSTRY.co.id - Jakarta, the Ministry of Industry assesses the business prospects of the domestic cosmetics industry is still quite shiny in the future. Moreover, demand in domestic and export markets is on the rise, as the trend of people starting to pay attention to body care products as a key requirement.

"Indonesia is one of cosmetic product market which is quite potential so that this business can promise for our producers who want to develop it," said Director of Chemical Industry of Textile and Multi Various Industry (IKTA) Ministry of Industry Achmad Sigit Dwiwahjono in Jakarta, Thursday (19/7/2018) .

Ministry of Industry noted, in 2017, the national cosmetics industry grew to reach 6.35 percent and rose to 7.36 percent in the I quarter / 2018.

"This means that the performance of this sector is above the national economic growth and we expect that by 2018 it can be up to 7 percent, in line with the startup growth and the growing consumer needs," said Sigit.

In addition, the domestic cosmetics industry has grown to 153 by 2017, bringing the total to over 760 firms today. Of the total, as many as 95 percent of the national cosmetics industry is a sector of small and medium industries (IKM) and the rest of large-scale industries.

"From medium and large scale industries, some of them already export their products to countries in Asean, Africa, Middle East and others," he said.

In 2017, recorded export value of national cosmetics products reached USD516, 99 million, up compared to the year 2016 amounted to USD470, 30 million.

Meanwhile, Chairman of the Indonesian Cosmetics Companies Association (Perkosmi) Sancoyo Antarikso believes, cosmetic product market in Indonesia has the potential to continue to grow in line with the growing trend of usage.

"If previously only two steps, now many consumers apply cosmetics 5-10 steps, starting from cleaning, serum, and others," he said.

Therefore, continued Sancoyo, cosmetics manufacturers in the country are required to meet the tastes of consumers today if you do not want to lose to compete with imported products.

"To know the trend of demand for cosmetic products, we actively hold an exhibition every year that invites global players in the field of raw materials, packaging, and machinery," he concluded.