Finland: Market for Beauty, Make-Up And Skin Care Preparations 2024

Market Size for Beauty, Make-Up And Skin Care Preparations in Finland

In 2022, the Finnish market for beauty, make-up and skin care preparations increased by 2% to $X, rising for the seventh year in a row after two years of decline. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.1% against 2015 indices. Consumption of peaked in 2022 and is likely to see gradual growth in years to come.

Production of Beauty, Make-Up And Skin Care Preparations in Finland

In value terms, production of beauty, make-up and skin care preparations contracted modestly to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +75.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 37%. Production of peaked at $X in 2021, and then reduced modestly in the following year.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from Finland

After four years of growth, shipments abroad of beauty, make-up and skin care preparations decreased by -14.8% to X tons in 2022. In general, exports recorded a pronounced setback. The growth pace was the most rapid in 2020 when exports increased by 6.9%. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of beauty, make-up and skin care preparations stood at $X in 2022. Overall, total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +86.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Sweden (X tons), Russia (X tons) and Hong Kong SAR (X tons) were the main destinations of exports of beauty, make-up and skin care preparations from Finland, with a combined 53% share of total exports. Estonia, Germany, the United States, the UK, Kazakhstan, China, Denmark, Lithuania, Ukraine and Poland lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +107.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for beauty, make-up and skin care preparations exports from Finland, comprising 40% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 9.2% share of total exports. It was followed by Estonia, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+65.5% per year) and Estonia (-3.1% per year).

Export Prices by Country

In 2022, the average export price for beauty, make-up and skin care preparations amounted to $X per ton, with an increase of 19% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for beauty, make-up and skin care preparations increased by +107.4% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 30%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Russia ($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 UK (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Beauty, Make-Up And Skin Care Preparations

Imports into Finland

In 2022, approx. X tons of beauty, make-up and skin care preparations were imported into Finland; rising by 2.7% on 2021. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 11% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of beauty, make-up and skin care preparations reached $X in 2022. Overall, total imports indicated a temperate expansion from 2012 to 2022: its value 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, imports increased by +69.5% against 2015 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 19%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Germany (X tons), Denmark (X tons) and Sweden (X tons) were the main suppliers of imports of beauty, make-up and skin care preparations to Finland, with a combined 40% share of total imports. Poland, Spain, France, the UK, China, Belgium, Estonia, South Korea, the United States and the Netherlands lagged somewhat behind, together comprising a further 52%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +52.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Sweden ($X) were the largest beauty, make-up and skin care preparations suppliers to Finland, together comprising 40% of total imports. The United States, the UK, Denmark, Poland, South Korea, Spain, China, Belgium, the Netherlands and Estonia lagged somewhat behind, together accounting for a further 48%.

South Korea, with a CAGR of +46.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for beauty, make-up and skin care preparations amounted to $X per ton, declining by -2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then declined in the following year.

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 United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :