China: Perfume Market 2024

Perfume Market Size in China

The Chinese perfume market dropped to $X in 2022, declining by -1.8% against the previous year. In general, the total consumption indicated a temperate 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, consumption decreased by -5.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Perfume Production in China

In value terms, perfume production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion 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, production decreased by -1.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 45% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Perfume Exports

Exports from China

In 2022, shipments abroad of perfumes and toilet waters increased by 38% to X tons, rising for the second year in a row after three years of decline. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +50.2% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 83%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, perfume exports surged to $X in 2022. Over the period under review, exports posted a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 74%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The Netherlands (X tons), the United States (X tons) and the UK (X tons) were the main destinations of perfume exports from China, with a combined 43% share of total exports. The United Arab Emirates, Morocco, the Philippines, Venezuela, Spain, Saudi Arabia, Chile, Panama, Australia and Pakistan lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +65.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and the UK ($X) appeared to be the largest markets for perfume exported from China worldwide, with a combined 35% share of total exports. The United Arab Emirates, the Philippines, Australia, Morocco, Panama, Pakistan, Saudi Arabia, Venezuela, Chile and Spain lagged somewhat behind, together accounting for a further 26%.

Morocco, with a CAGR of +65.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average perfume export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, perfume export price increased by +58.7% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of 23%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into China

In 2022, perfume imports into China fell to X tons, which is down by -5.4% compared with the previous year. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +48.8% against 2016 indices. The growth pace was the most rapid in 2014 when imports increased by 35% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, perfume imports stood at $X in 2022. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 97% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, France (X tons) constituted the largest perfume supplier to China, with a 50% share of total imports. Moreover, perfume imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was held by Italy (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+27.4% per year) and Italy (+4.6% per year).

In value terms, France ($X) constituted the largest supplier of perfumes and toilet waters to China, comprising 60% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Spain, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+30.7% per year) and Spain (+50.8% per year).

Import Prices by Country

The average perfume import price stood at $X per ton in 2022, picking up by 12% against the previous year. Overall, the import price showed a significant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 82% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+28.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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