Bangladesh’s skincare products (cosmetics) had a market size amounting to $1.16 billion in 2020. Research firm Allied Market Research said that the market was expected to grow to the size of $2.12 billion by 2027. Makeup items and skincare products have become a vital industry due to rise in income and subsequent improving lifestyle of people. However, the main target market of this fast-growing industry is female. Based on the age-group, the market is divided into generation X, millennial, and generation Z.The makeup segment includes foundation, primer, blush, lipstick, bronzer, eyeshadow pallets, lip-gloss, eyeliner, mascara, highlighter etc. Cleanser, facewash, soap, bodywash, moisturizer, serum, face masks, anti-aging products, scrub, face oil, body oil, face cream, lotion etc. are in skincare segment. These cosmetics items are present in supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel. But does the market guarantee of having only authentic products as cosmetics items?
There are many renowned brands available for makeup and skincare products to all over the world for beauty needs. Some of the top-quality brands are- Chanel, Estee Lauder, Dior, Mac, Nars, L’oreal, Clinique, Lancome, Ives Saint Laurent, The Ordinary, Neutrogena, Morphe, Huda Beauty, Givenchy, Bobby brown, The Bodyshop, Covergirl, Shiseido, Fenty Beauty, bare Minerals, Burberry, Anastasia Beverly Hills (ABH), Elizabeth Arden, Cover FX, Sephora, NYX, Cera Ve, Urban Decay, Maybelline, Inglot, Colourpop, Makeup Revolution etc. But only 2 out of these following brands have their stores or websites in Bangladesh. Few products from these brands are available in makeup stores in Bangladesh but these stores are not official/ authorized seller for the brands, such as Mac, Elizabeth Arden,The Body Shop etc. Maximum customers of these brands order through online pages of Facebook who bring these cosmetics personally. There are numerous numbers of counterfeit products of these brands in many stores and thus, the question remains about the authenticity of these products.
Inglot Bangladesh and Flormar are present in multiple locations across Bangladesh. The Body Shop has 2 outlets in Dhaka. The Lafz and Zayn and Myza have online stores and they ship at doorsteps. Almost all these brands have home delivery services where they offer exchange and refund policies. Also, The Lafz and Zayn and Myza are from the same parent company “Believe PTE Ltd. Miniso Bangladesh is a Japanese inspired lifestyle brand which has amazing skincare and makeup ranges at an affordable price range. Miniso has multiple stores in Dhaka, Chattogram and Khulna. There are also trusted online and physical stores who import branded makeup and skincare products such as The Mall BD, Banglashoppers, Shajgoj.com, Pixie La Bella, Lira import etc.
It should be noted that there are few homegrown brands which are quite popular in the market. These local makeup and skincare products have much recently entered the market. They are launched keeping in mind the weather conditions of our country and the wide range of our skin tones and types.
High-end brands like Mac, Estee Lauder, Dior, Nars, L’oreal, Clinique, The ordinary, Neutrogena, Lancome, Ives Saint Laurent, Morphe, Huda Beauty, Givenchy, Farsali, Inglot, The Body Shop etc. are premium, luxurious, costly and highquality cosmetics brands. Individuals from socio economy class A and B can afford these brands. Most of these brands are purchased from abroad by the customers or via pre order from trusted pages. There are many drugstore and budget friendly cosmetics brands such as- NXY, wet and wild, Colourpop, Garnier, Ponds, Dove, Simple, Makeup Revolution, The Lafz, Zayn and Myza, Nivea Flormar etc. These cosmetics brands offer a promising quality in an affordable price range, thus the demand for these brands is higher. Economy class C can afford these brands. These brands are available in trusted shops and online stores.
On the contrary, there are stores who sell counterfeit products as well and customers buy from those shops both knowingly and unknowingly. Many customers look for these counterfeit items as they cannot afford high-end or drugstore brands. Govt officials raided and fined many stores for selling fake cosmetics in their stores. There are few famous stores were reported of selling fake cosmetics to customers and were fined by government as well. Some of them areNot just stores, even popular beauty parlours, such as Persona and Farzana Shakil’s were fined Tk 1.5 million each for using expired and fake cosmetics in 2019. Chawkbazar is the production hub of all kinds of fake cosmetics and skincare items. Rapid Action Battalion [RAB] and Bangladesh Standards and Testing Institution (BSTI) had seized fake foreign cosmetics worth Tk 3.5 crore in Chawkbazar via mobile court. In Rajshahi, police had seized fake foreign branded cosmetics worth around Tk4.52 lakh. In 2020, only BSTI had seized fake cosmetics worth Tk 8.3 crore from 15 factories. Bangladesh Standard and Testing Institute (BSTI), Rapid Action Battalion (RAB), Directorate of National Consumers’ Right Protection, and police have seized huge quantities of substandard products and cosmetics from various mobile courts.
Long-term exposure to substandard cosmetic products causes many diseases, especially skin cancer. Counterfeit cosmetics contain a substance called mercury which can lead to rashes and skin discoloration. Many individuals reported of damaging their skin permanently by using fake and non-brand items from these fake products.
The government of Bangladesh has acknowledged the potential of beauty sector. Thus, they are trying to stop this syndicate by constant mobile court and tip off investigation. RAB, BSTI, National Consumers’ Right Protection, police and other govt officials have been working relentlessly to eradicate this unscrupulous cycle of counterfeit makeup and skincare items. Strict laws and punishments on counterfeit and replica products have been included which is supporting the market to rise with authentic items. Many syndicates were successfully arrested and eliminated from making crores of counterfeit items for skin. But, the customers need to be educated as they purchase regularly and keep the market running. They need proper knowledge on the effects of counterfeit products on skin. If not branded items, they can go for local or drugstore brands. There are almost sufficient drugstore local and international brand stores present in Bangladesh. If there are not sufficient alternatives, its better not to use anything but duplicate products as they make permanent damage to the skin.
Many international brands are not entering into Bangladeshi market and setting up operation like Inglot, Flormar etc. One probable reasoning might be the brands don’t see a profitable market here as the costs are going to be higher for tax. As the tax will be included with original pricing, the selling price might get a lot higher than the previous price, which will not be attractive for the customers.
Lastly, Bangladesh has huge potential in the market of cosmetics and skincare products. To capitalize the full potential, both government and brands should work together. If both parties can ensure quality, only then this sector will see a sustainable growth.
