In 2021, demand for beauty and personal care in Myanmar has remained steady. However, current value and volume sales have not yet recovered to the pre COVID-19 levels due to the negative impact both the pandemic and the coup is having on the economy.
Both imported and exported beauty and personal products experienced a decline in 2020, due to the COVID-19 pandemic. This also led to a rise in unemployment, and a subsequent decrease in income levels, which affected the sales of beauty products negatively.
The ongoing political turmoil and complexities caused by the COVID-19 pandemic continue to weaken Myanmar's economy. As a result, the World Bank projects that the country's economy may contract to around 18% in 2021.
Since the coup, the Myanmar kyat is experiencing more than a 50% depreciation, which has led to an increase in the retail price of imported beauty and personal care products. This has resulted in the cutting down of such products, along with a switch to alternative brands or products with lower prices.
Distribution remains difficult across much of Myanmar, following decades of underinvestment in road infrastructure. The majority of secondary routes are single-lane unpaved roads, with under half of the road network paved in 2021, causing a particular issue in rural areas.
The economic decline caused by the coup will have a significant negative impact on the demand for beauty and personal care products over the forecast period. Essentially, price sensitivity is projected to slow demand in the years to come.
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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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