Hong Kong SAR, China: Perfume Market 2025

Perfume Market Size in Hong Kong SAR, China

The Hong Kong perfume market rose slightly to $X in 2022, growing by 1.8% against the previous year. Over the period under review, the total consumption indicated a pronounced increase 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, consumption decreased by -12.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Perfume Production in Hong Kong SAR, China

In value terms, perfume production stood at less than $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern.

Perfume Exports

Exports from Hong Kong SAR, China

In 2022, the amount of perfumes and toilet waters exported from Hong Kong SAR was estimated at X tons, approximately reflecting 2021. Overall, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.0% 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 +73.4% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 29%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, perfume exports shrank slightly to $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 52%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China (X tons) was the main destination for perfume exports from Hong Kong SAR, with a 52% share of total exports. Moreover, perfume exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+8.1% per year) and Singapore (-6.8% per year).

In value terms, China ($X) remains the key foreign market for perfumes and toilet waters exports from Hong Kong SAR, comprising 52% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 21% share of total exports. It was followed by Singapore, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+15.5% per year) and Singapore (-0.4% per year).

Export Prices by Country

The average perfume export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.8% 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 +16.1% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 20% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then dropped slightly in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and the Philippines ($X per ton), while the average price for exports to Macao SAR ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas purchases of perfumes and toilet waters, when their volume decreased by -34.9% to X tons. In general, imports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 26%. Imports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, perfume imports contracted significantly to $X in 2022. Over the period under review, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 34%. Imports peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

Italy (X tons), France (X tons) and Singapore (X tons) were the main suppliers of perfume imports to Hong Kong SAR, with a combined 52% share of total imports. China, the United States, South Korea, Spain, the Netherlands, Switzerland, Germany and the United Arab Emirates lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +23.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest perfume suppliers to Hong Kong SAR were Italy ($X), France ($X) and Singapore ($X), with a combined 52% share of total imports. China, the United States, South Korea, Spain, the Netherlands, Switzerland, Germany and the United Arab Emirates lagged somewhat behind, together accounting for a further 39%.

South Korea, with a CAGR of +30.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average perfume import price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, perfume import price increased by +70.7% against 2012 indices. The pace of growth was the most pronounced in 2021 an increase of 12% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and the United States ($X per ton), while the price for Singapore ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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