Eastern Asia: Perfume Market 2025

Perfume Market Size in Eastern Asia

In 2022, the East Asian perfume market decreased by -1.7% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a buoyant increase from 2012 to 2022: its value 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, consumption decreased by -2.5% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Perfume Production in Eastern Asia

In value terms, perfume production rose modestly to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 growth pace was the most rapid in 2016 when the production volume increased by 45% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Perfume Exports

Exports in Eastern Asia

In 2022, overseas shipments of perfumes and toilet waters increased by 28% to X tons, rising for the second consecutive year after three years of decline. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +44.6% against 2020 indices. The pace of growth was the most pronounced in 2017 when exports increased by 68% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, perfume exports reached $X in 2022. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, China (X tons) was the major exporter of perfumes and toilet waters, generating 78% of total exports. It was distantly followed by Hong Kong SAR (X tons), generating a 21% share of total exports.

China was also the fastest-growing in terms of the perfumes and toilet waters exports, with a CAGR of +2.8% from 2012 to 2022. At the same time, Hong Kong SAR (+1.0%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +3.1 percentage points.

In value terms, Hong Kong SAR ($X) and China ($X) constituted the countries with the highest levels of exports in 2022.

Hong Kong SAR, with a CAGR of +7.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with a decrease of -13.9% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +86.4% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 50% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.8%).

Perfume Imports

Imports in Eastern Asia

In 2022, the amount of perfumes and toilet waters imported in Eastern Asia shrank significantly to X tons, reducing by -16.9% against the year before. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, perfume imports contracted to $X in 2022. In general, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 34%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Hong Kong SAR (X tons) was the major importer of perfumes and toilet waters, committing 36% of total imports. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and China (X tons), together mixing up a 60% share of total imports. Macao SAR (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to perfume imports into Hong Kong SAR stood at -4.0%. At the same time, Taiwan (Chinese) (+11.3%), Macao SAR (+7.9%), South Korea (+6.2%) and China (+6.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.3% from 2012-2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Taiwan (Chinese), South Korea, China and Macao SAR increased by +10, +7.1, +4.8 and +1.8 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported perfumes and toilet waters in Eastern Asia, comprising 44% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by Macao SAR, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +29.0%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+1.3% per year) and Macao SAR (+31.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 9.5% against the previous year. In general, the import price recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 an increase of 27%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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