Eastern Asia: Cosmetics Market 2024

Cosmetics Market Size in Eastern Asia

In 2023, the East Asian cosmetics market decreased by X% to $X, falling for the second year in a row after six years of growth. The total consumption indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Cosmetics Production in Eastern Asia

In value terms, cosmetics production expanded slightly to $X in 2023 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Cosmetics Exports

Exports in Eastern Asia

In 2023, the amount of cosmetics exported in Eastern Asia stood at X tons, growing by X% on the year before. In general, exports posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, cosmetics exports shrank modestly to $X in 2023. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

China (X tons) and South Korea (X tons) were the key exporters of cosmetics in 2023, accounting for approx. X% and X% of total exports, respectively. Hong Kong SAR (X tons) ranks next in terms of the total exports with a X% share, followed by Japan (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cosmetics supplying countries in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), together comprising X% of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, which is down by X% against the previous year. Export price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cosmetics export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Cosmetics Imports

Imports in Eastern Asia

In 2023, overseas purchases of cosmetics decreased by X% to X tons, falling for the third year in a row after nine years of growth. Overall, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, cosmetics imports fell notably to $X in 2023. In general, imports, however, saw buoyant growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons) and China (X tons) represented the major importers of cosmetics in 2023, accounting for near X% and X% of total imports, respectively. It was distantly followed by South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together comprising a X% share of total imports. Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported cosmetics in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Macao SAR, with a X% share.

In China, cosmetics imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Macao SAR (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price, however, posted a resilient expansion. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Macao SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Macao SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform