Hong Kong SAR, China - Cosmetics - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingRemarkable Decrease in Hong Kongs Cosmetics Imports to $3.7 Billion in 2024
Hong Kong Cosmetics Imports
For the fourth year in a row, Hong Kong recorded decline in purchases abroad of cosmetics, which decreased by -39.7% to 105K tons in 2024. In general, imports saw a mild shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 53% against the previous year. As a result, imports attained the peak of 290K tons. From 2021 to 2024, the growth of imports remained at a somewhat lower figure.
In value terms, cosmetics imports contracted dramatically to $3.7B (IndexBox estimates) in 2024. Overall, imports, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2020 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at $7.3B in 2021; however, from 2022 to 2024, imports failed to regain momentum.
| COUNTRY | Import Value of Cosmetics in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| South Korea | 324 | 531 | 909 | 942 | 1,090 | 915 | 3,221 | 3,342 | 3,149 | 2,244 | 1,560 |
| Singapore | 437 | 395 | 437 | 615 | 870 | 784 | 975 | 836 | 613 | 658 | 383 |
| China | 264 | 279 | 312 | 347 | 526 | 615 | 412 | 462 | 348 | 567 | 326 |
| Switzerland | 217 | 178 | 168 | 228 | 344 | 325 | 457 | 375 | 423 | 600 | 326 |
| Japan | 269 | 329 | 477 | 592 | 791 | 755 | 621 | 619 | 548 | 472 | 300 |
| France | 295 | 282 | 258 | 286 | 344 | 367 | 283 | 284 | 193 | 305 | 168 |
| United States | 229 | 276 | 284 | 293 | 400 | 399 | 397 | 310 | 216 | 203 | 133 |
| Others | 566 | 606 | 654 | 738 | 957 | 863 | 869 | 1,045 | 720 | 757 | 497 |
| Total | 2,602 | 2,876 | 3,500 | 4,042 | 5,322 | 5,023 | 7,234 | 7,275 | 6,211 | 5,805 | 3,692 |
Imports by Country
In 2024, South Korea (46K tons) constituted the largest cosmetics supplier to Hong Kong, with a 44% share of total imports. Moreover, cosmetics imports from South Korea exceeded the figures recorded by the second-largest supplier, Singapore (11K tons), fourfold. The third position in this ranking was held by Switzerland (8.8K tons), with an 8.4% share.
From 2014 to 2024, the average annual growth rate of volume from South Korea totaled +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-5.9% per year) and Switzerland (-1.7% per year).
In value terms, South Korea ($1.6B) constituted the largest supplier of cosmetics to Hong Kong, comprising 42% of total imports. The second position in the ranking was taken by Singapore ($383M), with a 10% share of total imports. It was followed by China, with an 8.8% share.
From 2014 to 2024, the average annual growth rate of value from South Korea stood at +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-1.3% per year) and China (+2.1% per year).
Imports by Type
In 2024, beauty, make-up and skin care preparations (100K tons) was the main type of cosmetics supplied to Hong Kong, accounting for a 96% share of total imports. It was followed by eye make-up preparations (1.8K tons), with a 1.7% share of total imports. Talcum and cosmetic powder (1.4K tons) ranked third in terms of total imports with a 1.3% share.
From 2014 to 2024, the average annual growth rate of the volume of beauty, make-up and skin care preparations imports amounted to -1.7%. With regard to the other supplied products, the following average annual rates of growth were recorded: eye make-up preparations (+0.6% per year) and talcum and cosmetic powder (+0.8% per year).
In value terms, beauty, make-up and skin care preparations ($3.4B) constituted the largest type of cosmetics supplied to Hong Kong, comprising 91% of total imports. The second position in the ranking was taken by eye make-up preparations ($150M), with a 4.1% share of total imports. It was followed by lip make-up preparations, with a 2.5% share.
Import Prices by Country
In 2024, the cosmetics price stood at $35,202 per ton (CIF, Hong Kong), growing by 5.5% against the previous year. Overall, import price indicated strong growth from 2014 to 2024: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cosmetics import price increased by +41.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 16%. The import price peaked in 2024 and is likely to see steady growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2024, amid the top importers, the countries with the highest prices were China ($41,953 per ton) and Germany ($39,674 per ton), while the price for South Korea ($33,709 per ton) and Italy ($33,896 per ton) were amongst the lowest.
From 2014 to 2024, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- 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
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
