Thailand’s 2014 cosmetics industry was valued approximately $7 billion (10% growth from 2013). Domestic market was about $4 billion whereas export market was $3 billion. Thailand has currently 40% market share in the ten Association of Southeast Asian Nations (ASEAN)’s cosmetics market. High-end, premium products accounted for 20% of the market whereas mid-tier and low-tier products made up 50% and 30%, respectively. Skin care products have the highest market share of 35%. Make-up products captured 31% of the market. Hair care products made up for 29% of the total market. Perfume had the lowest market share at 5%. (U.S. Commercial Service Hong Kong, 2015)