As a developing country, Bangladesh has now embarked on many new industries. Cosmetics and toiletries in one of them. Now, various cosmetics importers in BD are successfully doing their business. Though this industry is new but undoubtedly growing rapidly, even according to economists, the future of this sector in the business field is quite bright. As the concept of beauty products is still new, only a few companies produce these products. That is why this industry is very much dependent on imports. However, the companies that make cosmetic products procure some raw materials locally, but most are imported. All in all, this promising industry is mainly dependent on imports. Let’s discuss this industry in a little more detail.
Present scenario of cosmetics industry in Bangladesh
According to the AMR, in 2020, the Bangladesh cosmetic products market size was worth $1.16 billion. The expected worth is $2.12 billion by 2027. The rapid growth of F-commerce and E-commerce is the primary factor of developing this industry. Rising awareness regarding self-care among the people helps grow the cosmetic market in Bangladesh. Unfortunately, as the demand for cosmetics products increases, so does the supply of counterfeit products. However, remarkable improvement in marketing activities increases sales and creates a potential market for the products. Bangladesh cosmetic products market segmented on product types, gender, and age group. The cream segment covered nearly half of the total market. On the other hand, the female segment occupied more than three-fifths of the total yearly earnings.
Leading cosmetics importers in BD
Some leading cosmetics importers in BD have been doing business successfully for a long time. They are-
Korean cosmetics in Bangladesh
T F cosmetics zone
Sardar Enterprise
Pride cosmetics and company
Dream Shades BD limited
Bengal Organic Products limited
Venus Social marketing Company limited
Sardar enterprise is one of the leading cosmetic importers in BD. They import the famous and trustable brand’s products from Dubai, Hongkong, Malaysia, and Singapur. Well, this was the present condition of the cosmetics industry in Bangladesh. This industry is very promising and profitable also. Therefore, we should all efficiently remove the obstacles and expand this industry.