Asia Pacific is the world’s largest cosmetic market followed by Western Europe, North America and Latin America. Demands for skin care products, hair care articles and cosmetics are still the largest in all cosmetic types. Global market size of skin care products was EUR 64.62 billion in 2015, accounting for 36.1% of the overall cosmetic market; that of hair care articles was EUR 40.99 billion, accounting for 22.9%; that of cosmetics was EUR 30.97 billion, accounting for 17.3%; that of perfume was EUR21.84 billion, accounting for 12.2%.
Multinational corporations still remain their unshakable hegemonies and dominate the cosmetic industry with strong R&D capability, great brand influence and marketing capability. The top-ranking corporations are L’Oreal, P&G, Unilever, Estee Lauder and Shiseido, the market share of which accounts for 43.9% of the global market. The European, American and Japanese enterprises lead global beauty concepts and industrial development trend, which will continue in the foreseeable future. Concentration rate of brands is high in mature markets. For instance, market share of the top 3 cosmetic brands P&G, L’Oreal and Revlon accounts for 80% of the total Canadian cosmetic market.
According to the data from L’Oreal group, China, Japan, India, Brazil and America will be the top 5 markets with the largest demands in global cosmetic industry. The size of global cosmetic industry grew at a rate of close to 4% annually in the past ten years according to the calculation. Global cosmetic industry will on a booming trend with the steady recovery of global economy, the rising income level of residents and the increasing awareness of body care. It is estimated that the size of global cosmetic market will reach EUR 235.5 billion by 2022. As an important part of cosmetic industry, the global market size of skin care products is estimated to reach EUR 87.84 billion by 2022, accounting for about 37.3% of the size of global cosmetic industry.
Reference:
Skin Care Product Manufacturing Industry Overview in China, 2016-2020
According to CRI, the skin care product market in China is the leading emerging one in the globe for the economy and population.
China Cross-border E-commerce Industry Overview, 2017-2021
In 2015, the import origins of top 10 cross-border e-commerce products in China included the U.S.A., Japan, Germany, South Korea, Australia, Holland, France, the U.K., Italy and New Zealand, of which the products are preferred by Chinese consumers.