Import of products in the category
increased by 20 percent in Fiscal Year 2016/17
KATHMANDU, Dec 4: The consumption of cosmetic products grew by 19.6 percent in Fiscal Year 2016/17 compared to FY2015/16.
According to Nepal Rastra Bank, Nepal imported cosmetic products worth Rs 4.36 billion in FY2016/17.
Consumption of cosmetic products rising steadily
Kamala Shrestha, president of Beautician Professionals Association of Nepal, attributed the rise in consumption of cosmetic products to growing pollution in urban areas.
Statistics maintained by the central bank shows that import of cosmetic products has seen a steady growth in the last three fiscal years. “Nepalis use cosmetic products worth around Rs 5.5 billion annually, including the products manufactured in the country,” she added.
According to Shrestha, the major reason behind the growth in cosmetic product consumption is unhealthy food habit and growing pollution. “Growing pollution and unhealthy food habit is the reason behind several skin diseases. People use cosmetic products to treat such diseases” Shrestha added.
Skin care products like tonner, moisturizer, lotions, face wash, soap, sunscreen and other daily skincare products are the most consumed cosmetic products in Nepal, according to Shrestha. “Skin care precuts that treat acne, wrinkles, marks and other skin problems are high in demand,” she added.
Healthy growth in the demand for cosmetic products, meanwhile, has increased supply of counterfeit products in the market. “Taking undue advantage of the growing demand for cosmetic products in the market, some traders are also selling counterfeit products to make some fast bucks. Consumers should know that such products harm their skin,” Shrestha added.
Nepal had imported cosmetic products worth Rs 3.65 billion in FY2015/16, while cosmetic products worth Rs 3.24 billion had entered the country in FY2014/15.
According to Shrestha, Nepal mostly imports cosmetic products from countries like India, China, South Korea, the US and the UK, among others. “As more Nepalis are becoming brand conscious these days, import of cosmetic products from Europe and the US is increasing in recent years,” she added.
