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Hong Kong SAR, China - Cosmetics - Market Analysis, Forecast, Size, Trends And Insights

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Article Publishing Date: Jul 6, 2024

Hong Kong Sees Cosmetics Import Drop to $5.8B in 2023

Hong Kong Cosmetics Imports

In 2023, imports of cosmetics into Hong Kong contracted to 187K tons, waning by -11.4% on the year before. Over the period under review, imports, however, showed a pronounced increase. The growth pace was the most rapid in 2020 when imports increased by 53%. As a result, imports reached the peak of 290K tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, cosmetics imports shrank to $5.8B (IndexBox estimates) in 2023. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 44%. Imports peaked at $7.3B in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure. Hong Kong Cosmetics Imports By Country (Million USD)

COUNTRY	Import Value of Cosmetics in Hong Kong (million USD)
COUNTRY	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
South Korea	234	324	531	909	942	1,090	915	3,221	3,342	3,148	2,734
Singapore	392	437	395	437	615	870	784	975	836	613	671
Japan	254	269	329	477	592	791	755	621	619	548	499
Switzerland	173	217	178	168	228	344	325	457	375	423	356
China	253	264	279	312	347	526	615	412	462	348	343
United States	270	229	276	284	293	400	399	397	310	216	255
France	261	295	282	258	286	344	367	283	284	193	209
Others	543	566	606	654	738	957	863	869	1,045	720	744
Total	2,379	2,602	2,876	3,500	4,042	5,322	5,023	7,234	7,275	6,211	5,811

Imports by Country

In 2023, South Korea (87K tons) constituted the largest supplier of cosmetics to Hong Kong, with a 47% share of total imports. Moreover, cosmetics imports from South Korea exceeded the figures recorded by the second-largest supplier, Singapore (22K tons), fourfold. Japan (16K tons) ranked third in terms of total imports with an 8.7% share.

From 2013 to 2023, the average annual growth rate of volume from South Korea totaled +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+0.8% per year) and Japan (+2.3% per year).

In value terms, South Korea ($2.7B) constituted the largest supplier of cosmetics to Hong Kong, comprising 47% of total imports. The second position in the ranking was taken by Singapore ($671M), with a 12% share of total imports. It was followed by Japan, with an 8.6% share.

From 2013 to 2023, the average annual rate of growth in terms of value from South Korea stood at +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+5.5% per year) and Japan (+7.0% per year).

Imports by Type

In 2023, beauty, make-up and skin care preparations (180K tons) was the main type of cosmetics supplied to Hong Kong, with a 97% share of total imports. It was followed by eye make-up preparations (2.2K tons), with a 1.2% share of total imports. The third position in this ranking was taken by talcum and cosmetic powder (2.1K tons), with a 1.1% share.

From 2013 to 2023, the average annual growth rate of the volume of beauty, make-up and skin care preparations imports stood at +4.2%. With regard to the other supplied products, the following average annual rates of growth were recorded: eye make-up preparations (+1.8% per year) and talcum and cosmetic powder (+4.4% per year).

In value terms, beauty, make-up and skin care preparations ($5.4B) constituted the largest type of cosmetics supplied to Hong Kong, comprising 93% of total imports. The second position in the ranking was held by eye make-up preparations ($163M), with a 2.8% share of total imports. It was followed by lip make-up preparations, with a 2.1% share.

Import Prices by Country

In 2023, the cosmetics price amounted to $31,150 per ton (CIF, Hong Kong), with an increase of 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were China ($31,560 per ton) and South Korea ($31,515 per ton), while the price for the United States ($30,191 per ton) and Italy ($30,470 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cosmetics market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20421250 - Lip make-up preparations
Prodcom 20421270 - Eye make-up preparations
Prodcom 20421300 - Manicure or pedicure preparations
Prodcom 20421400 - Powders, whether or not compressed, for cosmetic use (including talcum powder)
Prodcom 20421500 - Beauty, make-up and skin care preparations including suntan (excluding medicaments, lip and eye make-up, manicure and pedicure preparations, powders for cosmetic use and talcum powder)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023

Hong Kong SAR, China - Cosmetics - Market Analysis, Forecast, Size, Trends And Insights

Hong Kong Sees Cosmetics Import Drop to $5.8B in 2023

Hong Kong Cosmetics Imports

Imports by Country

Imports by Type

Import Prices by Country

Product coverage:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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