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

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

In 2022, the Norwegian market for beauty, make-up and skin care preparations decreased by -1.5% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Exports of Beauty, Make-Up And Skin Care Preparations

Exports from Norway

In 2022, after three years of growth, there was significant decline in shipments abroad of beauty, make-up and skin care preparations, when their volume decreased by -38.2% to X tons. In general, exports, however, enjoyed a moderate increase. The pace of growth appeared the most rapid in 2016 when exports increased by 74%. The exports peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, exports of beauty, make-up and skin care preparations shrank rapidly to $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 61% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Sweden (X tons) was the main destination for exports of beauty, make-up and skin care preparations from Norway, with a 45% share of total exports. Moreover, exports of beauty, make-up and skin care preparations to Sweden exceeded the volume sent to the second major destination, Germany (X tons), twofold. Denmark (X tons) ranked third in terms of total exports with a 20% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+31.5% per year) and Denmark (+1.8% per year).

In value terms, Sweden ($X), Denmark ($X) and Germany ($X) were the largest markets for beauty, make-up and skin care preparations exported from Norway worldwide, together accounting for 93% of total exports. The Netherlands, Finland, Spain and Lithuania lagged somewhat behind, together accounting for a further 3.7%.

Among the main countries of destination, Lithuania, with a CAGR of +105.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for beauty, make-up and skin care preparations stood at $X per ton in 2022, increasing by 6.5% against the previous year. In general, the export price saw a buoyant expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 56% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Lithuania ($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 Finland (+12.0%), 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 Norway

Imports of beauty, make-up and skin care preparations into Norway rose remarkably to X tons in 2022, increasing by 6.7% against the year before. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of beauty, make-up and skin care preparations shrank to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

France (X tons), Denmark (X tons) and Sweden (X tons) were the main suppliers of imports of beauty, make-up and skin care preparations to Norway, with a combined 35% share of total imports. The Netherlands, Poland, Germany, the United States, the UK, Spain, Belgium, South Korea, China and Italy lagged somewhat behind, together accounting for a further 57%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +58.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest beauty, make-up and skin care preparations suppliers to Norway were France ($X), the United States ($X) and Denmark ($X), with a combined 48% share of total imports. The UK, Germany, Sweden, South Korea, the Netherlands, Poland, Spain, Italy, Belgium and China lagged somewhat behind, together comprising a further 41%.

South Korea, with a CAGR of +67.2%, saw the highest growth rate of 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 import price for beauty, make-up and skin care preparations stood at $X per ton in 2022, waning by -12.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 when the average import price increased by 21%. As a result, import price reached the peak level of $X per ton, and then contracted 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 ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :