Beauty, Make-Up And Skin Care Preparations Market

The article discusses the growth trends in the global market for beauty, make-up, and skin care preparations from 2022 to 2030. It highlights the expected increase in volume and value of the market, reaching 7.9M tons and $133.7B by 2030. The consumption, production, imports, and exports of beauty products are analyzed, with key insights on the leading countries in each category. The article also covers the average annual growth rates, fluctuations, and prominent rate of growth recorded in specific years. Overall, it provides a comprehensive overview of the market dynamics and trends in the beauty industry.

Market Forecast

Driven by increasing demand for beauty, make-up and skin care preparations worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 7.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $133.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Beauty, Make-Up And Skin Care Preparations

In 2022, global consumption of beauty, make-up and skin care preparations amounted to 6.3M tons, surging by 2.6% on the year before. The total consumption volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to continue growth in years to come.

The value of the market for beauty, make-up and skin care preparations worldwide expanded to $92.9B in 2022, increasing by 5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +70.5% against 2014 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1M tons), Russia (881K tons) and the United States (627K tons), together comprising 40% of global consumption. India, Japan, Indonesia, Brazil, Singapore, Pakistan, Turkey, South Korea, Mexico and France lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +39.1%), while preparations for the other global leaders experienced more modest paces of growth.

In value terms, the largest beauty, make-up and skin care preparations markets worldwide were the United States ($16.3B), Japan ($14.3B) and China ($10.4B), with a combined 44% share of the global market. Russia, Singapore, South Korea, India, Brazil, Mexico, France, Turkey, Indonesia and Pakistan lagged somewhat behind, together comprising a further 28%.

Among the main consuming countries, Singapore, with a CAGR of +43.9%, saw the highest rates of growth with regard to market size over the period under review, while preparations for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of beauty, make-up and skin care preparations was registered in Singapore (27 kg per person), followed by Russia (6.1 kg per person), South Korea (2.3 kg per person) and Japan (2 kg per person), while the world average per capita consumption of beauty, make-up and skin care preparations was estimated at 0.8 kg per person.

From 2012 to 2022, the average annual growth rate of the per capita consumption of beauty, make-up and skin care preparations in Singapore totaled +37.9%. In the other countries, the average annual rates were as follows: Russia (+7.0% per year) and South Korea (+3.5% per year).

Production

World Production of Beauty, Make-Up And Skin Care Preparations

In 2022, global production of beauty, make-up and skin care preparations contracted slightly to 6.3M tons, reducing by -1.7% compared with the year before. The total output volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Over the period under review, global production of hit record highs at 6.4M tons in 2021, and then fell slightly in the following year.

In value terms, production of beauty, make-up and skin care preparations shrank slightly to $94.8B in 2022 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +71.4% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Global production peaked at $96.6B in 2021, and then reduced modestly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (967K tons), Russia (860K tons) and the United States (536K tons), with a combined 37% share of global production. India, France, Japan, South Korea, Indonesia, Singapore, Brazil, Poland, Pakistan and Germany lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of preparations, amongst the leading producing countries, was attained by Singapore (with a CAGR of +12.8%), while preparations for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Beauty, Make-Up And Skin Care Preparations

For the eleventh consecutive year, the global market recorded growth in purchases abroad of beauty, make-up and skin care preparations, which increased by 1.7% to 2.7M tons in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.8% against 2012 indices. The most prominent rate of growth was recorded in 2018 with an increase of 12%. Over the period under review, global imports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, imports of beauty, make-up and skin care preparations shrank modestly to $59.8B in 2022. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. Global imports peaked at $61.3B in 2021, and then contracted in the following year.

Imports By Country

The purchases of the twelve major importers of beauty, make-up and skin care preparations, namely the United States, Hong Kong SAR, China, the Netherlands, the UK, France, Germany, Singapore, Belgium, Italy, Poland and Spain, represented more than half of total import. Malaysia (56K tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +19.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($16.7B) constitutes the largest market for imported beauty, make-up and skin care preparations worldwide, comprising 28% of global imports. The second position in the ranking was held by Hong Kong SAR ($5.9B), with a 9.9% share of global imports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +32.5%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+11.2% per year) and the United States (+9.0% per year).

Import Prices By Country

The average import price for beauty, make-up and skin care preparations stood at $22,309 per ton in 2022, declining by -4.1% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for beauty, make-up and skin care preparations increased by +55.9% against 2012 indices. The most prominent rate of growth was recorded in 2018 an increase of 12%. Over the period under review, average import prices hit record highs at $23,262 per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($95,494 per ton), while Malaysia ($8,195 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Beauty, Make-Up And Skin Care Preparations

In 2022, global exports of beauty, make-up and skin care preparations contracted to 2.7M tons, which is down by -7.7% against the year before. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.2% against 2012 indices. The pace of growth was the most pronounced in 2018 with an increase of 11% against the previous year. Over the period under review, the global exports of attained the peak figure at 2.9M tons in 2021, and then declined in the following year.

In value terms, exports of beauty, make-up and skin care preparations fell modestly to $55.7B in 2022. In general, exports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 23%. The global exports peaked at $58B in 2021, and then contracted slightly in the following year.

Exports By Country

In 2022, France (307K tons), followed by South Korea (202K tons), Germany (179K tons), Poland (163K tons), the United States (152K tons), China (134K tons), Hong Kong SAR (128K tons) and Spain (127K tons) represented the main exporters of beauty, make-up and skin care preparations, together creating 52% of total exports. The following exporters - the Netherlands (112K tons), Singapore (101K tons), Cote d'Ivoire (81K tons), Japan (80K tons) and the UK (74K tons) - together made up 17% of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +19.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, France ($8.8B), South Korea ($6.1B) and Singapore ($5.5B) appeared to be the countries with the highest levels of exports in 2022, together accounting for 37% of global exports.

South Korea, with a CAGR of +23.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for beauty, make-up and skin care preparations stood at $20,780 per ton in 2022, surging by 4.1% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for beauty, make-up and skin care preparations increased by +53.5% against 2013 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 10%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($55,623 per ton), while Cote d'Ivoire ($2,274 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+12.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform