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Hong Kong SAR, China - Cosmetics - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Feb 1, 2025

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

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Oct 29, 2024

In 2023, Cosmetics Imports in Hong Kong Drop by 7%, Totaling $5.8 Billion

Hong Kong Cosmetics Imports

For the third consecutive year, Hong Kong recorded decline in purchases abroad of cosmetics, which decreased by -17.3% to 174K tons in 2023. Overall, imports, however, showed a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of 53%. As a result, imports attained the peak of 290K tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, cosmetics imports shrank to $5.8B (IndexBox estimates) in 2023. In general, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 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)

COUNTRYImport Value of Cosmetics in Hong Kong (million USD)
20132014201520162017201820192020202120222023
South Korea2343245319099421,0909153,2213,3423,1492,245
Singapore392437395437615870784975836613658
Switzerland173217178168228344325457375423600
China253264279312347526615412462348568
Japan254269329477592791755621619548472
France261295282258286344367283284193305
United States270229276284293400399397310216204
Others5435666066547389578638691,045720754
Total2,3792,6022,8763,5004,0425,3225,0237,2347,2756,2115,805

Imports by Country

In 2023, South Korea (69K tons) constituted the largest supplier of cosmetics to Hong Kong, accounting for a 40% share of total imports. Moreover, cosmetics imports from South Korea exceeded the figures recorded by the second-largest supplier, Singapore (20K tons), threefold. The third position in this ranking was held by Switzerland (18K tons), with a 10% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from South Korea stood at +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-0.2% per year) and Switzerland (+7.0% per year).

In value terms, South Korea ($2.2B) constituted the largest supplier of cosmetics to Hong Kong, comprising 39% of total imports. The second position in the ranking was held by Singapore ($658M), with an 11% share of total imports. It was followed by Switzerland, with a 10% share.

From 2013 to 2023, the average annual growth rate of value from South Korea amounted to +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+5.3% per year) and Switzerland (+13.3% per year).

Imports by Type

In 2023, beauty, make-up and skin care preparations (168K tons) was the main type of cosmetics supplied to Hong Kong, accounting for a 97% share of total imports. It was followed by eye make-up preparations (2K tons), with a 1.2% share of total imports. The third position in this ranking was taken by talcum and cosmetic powder (1.9K tons), with a 1.1% share.

From 2013 to 2023, the average annual rate of growth in terms of the volume of beauty, make-up and skin care preparations imports totaled +3.5%. With regard to the other supplied products, the following average annual rates of growth were recorded: eye make-up preparations (+1.1% per year) and talcum and cosmetic powder (+3.2% 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 ($162M), 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 $33,359 per ton (CIF, Hong Kong), increasing by 13% against the previous year. Overall, import price indicated a strong expansion from 2013 to 2023: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cosmetics import price increased by +33.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 16% against the previous year. Over the period under review, average import prices reached the maximum in 2023 and is likely to continue 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 ($36,510 per ton) and France ($33,860 per ton), while the price for South Korea ($32,651 per ton) and Italy ($32,665 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by China (+6.7%), 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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