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Cosmetics industry grows in importance in IndonesiaWednesday, June 22, 2016 > 10:02:59
(Premium Beauty News)
The beauty industry is one of the top 10 priorities of the Indonesian government’s masterplan for economic growth and development.
“Cosmetics play a strategic role in Indonesia given the reality and potential of the market and the 760 existing companies directly employing 75,000 people and sustaining an additional 600,000 jobs in related industries,” stressed Minister of Industry Saleh Husin, while inaugurating the II National Conference of the association PPA Kosmetika in Jakarta on June 1, 2016.
However, this industry is still highly dependent from imports. For instance, over 90 percent of cosmetic raw materials still have to be imported. An increased integration of upstream and downstream will be crucial for any significant acceleration of the industry.
“Indonesia has a strong potential given the large domestic market, its exports, the qualified human resources and the vast herbal raw materials that can be used as cosmetic ingredients. The export value in 2015 reached USD 818 million or around 11 trillion Indonesian rupiahs,” Husin said.
To address local demand, UBM, the biggest trade exhibitions organizer in Asia, is launching Beauty Indonesia. The new show will contribute to the exchange of information, innovation, research, business development and education. This premier beauty trade show for industry professionals will be held during April 19-21, 2017 at the Jakarta International Expo (JIExpo), with a clear focus on international participation and on representing all beauty sectors: ingredients, packaging & machinery, contract manufacturing, finished cosmetics, toiletries & personal care, wellness & spa, natural health, beauty salons, professional hair, nail and accessories.