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China Cosmetics Imports Gain 50% Boost

Jul. 14 2021

China cosmetic imports experience 50% growth to $ 7 billion USD in Apr-21 YTD compared to $ 4.7 billion USD for same period of 2020

With the burgeoning demand for premium cosmetics and the increasing number of working women populations who tend to spend more on cosmetic products in China, cosmetic products import value experienced 50% growth to a total value of $ 7 billion USD from Jan - Apr 2021, compared to $ 4.7 billion USD for same period of 2020. “Beauty or Make-Up Preparations & Preparations for Care of the Skin” dominated 86% of the total import valued at US$ 6 billion. The second came with “Perfumes & Toilet Waters” with 109% increase.

France, Japan and South Korea were the top 3 trade partners contributing $ 1.6, 1.5 and 1.3 billion USD respectively, which accounted for 23%, 21% and 18% of the total export value. Among them, France experienced the largest growth with nearly 60% growth compared to last year. Factors such as increasing female working population is resulting in an upsurge in premium and trustworthy skincare brands with France being a very mature and trusted supplier.

Additionally, air pollution is thought to lead to some skin problems such as dryness, itching, & rashes and is anticipated to increase the purchase and use of organic and mild cosmetic products to prevent and control damage.

The # 4 & 5 exporters were United Kingdom & United States, achieving $ 0.77 and 0.76 billion USD. UK surged 104% rising from $ 0.38 billion USD. Among the top 10 exporters, Belgium, Italy and Germany showed strong growth potential in the market, experiencing 188%, 84% and 67% growth.

All in all, the Chinese cosmetics market is expected to record a value of almost $90 billion USD in 2025, increasing at a CAGR of 6%. China is the second largest market of cosmetic products after United States in terms of revenue and consumption. The beauty and personal care market is facing rising demand as a result of increasing urbanization, social media influence, rising online penetration of beauty & personal care products in online stores such as Alibaba Tmall & JD.com, occurrence of cosmetic fairs & exhibitions, etc... All these factors are expected to fuel the lucrative growth of the cosmetics market in China in the coming 5 years.

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