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Cosmetics Industry Becomes a Potential Business Line in Indonesia

24 July 2018 | Author : Manufakturindo
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Indonesia has a variety of raw materials and processed industries that are able to compete in and outside the country. Not only the automotive, food beverages, and fashion industries that began to show a significant increase, but the cosmetics industry is also showing a potential growth.

 

"Indonesia is one of the potential cosmetics products market, that this business line can be promising for our producers who want to develop it," said Achmad Sigit Dwiwahjono, General Director of Textile and Aneka Industries (IKTA) in Jakarta on Thursday (19/7).

 

According to Ministry ofIndustry , in 2017, the national cosmetics industry grew by 6.35 percent and rose to 7.36 percent in the first quarter of 2018.

 

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

 

In 2017, the number of cosmetics industry in the country increased as many as 153 companies. Currently, the total of cosmetic companies in Indonesia reaches more than 760 companies and 95 percent of them is a small and medium industries (IKM) and the rest is large-scale industries.

In the same year, the export value of national cosmetics production reached USD 516,99 million. This is better than the previous year, 2016, that stop in USD 470,30 million. The increase in export value mainly caused by tendencies of the communities to go back to nature, where it opens bigger chance for development of nature-made cosmetics products, such as spa products from Bali.

 

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

 

Sancoyo added if domestic cosmetics manufacturers are required to meet the tastes of consumers.



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