PT Mustika Ratu Tbk. (MRAT) expressed its confidence that the beauty and personal care industry in the country will continue to record positive growth through 2026. This optimism remains intact even as the market faces considerable economic challenges, ranging from weakened consumer purchasing power to global economic uncertainty.
Mustika Ratu Director, Kusuma Ida Anjani, revealed that current beauty trends have undergone a profound transformation. While the 'lipstick effect' phenomenon was previously the main reference point during economic downturns, consumer behavior has now structurally shifted. For Millennials and Gen Z, personal care products have transformed from impulsive consumer goods into essential daily routine items.
Kusuma explained that today's consumer purchasing decisions are strongly influenced by higher standards, including quality, ingredient safety, product benefits, and relevance to lifestyle. Therefore, Mustika Ratu no longer views this trend as a temporary phenomenon, but rather as a permanent shift requiring continuous innovation.
As a strategic move, the company continues to strengthen its position through creative cross-industry collaborations, such as launching a Body Serum product line specifically designed to meet the preferences of the younger generation. This strategy is combined with strengthening research based on natural Indonesian ingredients integrated with modern technology, as well as optimizing distribution through digital channels.
Data from Statista further reinforces this positive projection, with the market value of Indonesia's personal care industry predicted to reach US$10.55 billion by 2026. By prioritizing product innovation and digital transformation, Mustika Ratu is determined to continue capturing opportunities amid an increasingly competitive and dynamic market.
