Modest sales growth was seen in beauty and personal care in 2022 as household spending remained under pressure. The exchange value of the kyat continued to slide in the wake of the 2021 military coup, although demand continued to increase as consumers began spending much more time outside of the home.
Beauty and personal care recorded further positive sales growth in 2022 as demand continued to rise as the lifestyles of local consumers returned to some semblance of pre-pandemic normality as the post-pandemic era unfolded. However, daily life throughout the country continued to be marred by widespread civil unrest as resistance to the rule of the military junta and armed conflict in some parts of the country meant because the threat of violence for very many people living in Myanmar.
Data from the Asian Development Bank shows that Myanmar’s economic performance during 2022 was underwhelming, with GDP contracting marginally amidst high inflation, with the rate of inflation hovering between 8.0% and 8.
2022 saw improvements in mobility and personal freedom among the population of Myanmar as restrictions on movement of the population that were imposed in response to the COVID-19 pandemic during 2020 and in the wake of the February 2021 military coup were lifted. This meant that consumers local were much more likely to be spending time outside the home, especially working professionals who were required to return to their previous habits of commuting into the office on a basis, rather than working remotely, as was typical at the peak of the pandemic.
There were interruptions to the supply chains for imported beauty and personal care products during 2022 due to regional conflicts and the knock-on effects of higher fuel prices and the rising cost of international transportation. Exacerbating this already unfavourable situation was high inflation due to the falling exchange value of the Myanmar Kyat, which led to much higher unit prices on retail shelves, keeping in mind that the vast majority of and personal care products sold in Myanmar are imported.
Beauty and personal care in Myanmar is slated for a moderate positive performance over the forecast period, with population growth and improvements in the socioeconomic situation expected to continue underpinning an expansion of the consumer base for many categories. However, sales growth is expected to remain under pressure due to the ongoing political stalemate in the wake of the February 2021 military coup, with the international trade sanctions that have been levied against the military junta and the elites that occupy key positions within the current regime likely to continue contributing to the economic downturn that is unlikely to be resolved before the end of 2024.
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Understand the latest market trends and future growth opportunities for the Beauty and Personal Care industry in Myanmar with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
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Beauty and Personal Care
This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.See All of Our Definitions
This report originates from Passport, our Beauty and Personal Care research and analysis database.
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