On December 3, according to a report from China Business Intelligence Network, data from the China Business Industry Research Institute shows that in 2023, China’s exports of beauty, cosmetics, and personal care products saw a slight increase, reaching 1,102,862 tons. The latest data indicates that from January to October 2024, the export volume of these products reached 1,080,902 tons, representing a year-on-year growth of 18%.
In terms of export value, the data reveals that from January to October 2024, China exported beauty, cosmetics, and personal care products worth $5.9138 billion, marking a year-on-year increase of 8.7%.
The growth in the export volume and value of China’s beauty, cosmetics, and personal care products for the period from January to October 2024 is as follows:
Specifically, apart from a decline in export volume and value in March compared to the same period last year, all other months recorded growth compared to the previous year. Notably, October showed the highest year-on-year increase, with export volume up by 35.1% and export value up by 25.1%.
It is worth noting that as competition intensifies, traffic dividends diminish, and regulations become increasingly stringent, China’s cosmetics industry is undergoing a reshuffling. This transformation signifies a shift from incremental competition focused on capturing market share to stock competition aimed at achieving more efficient operations within the existing market.
Meanwhile, the rapid rise of domestic brands and the increasing diversification and professionalization of consumer demand are propelling China’s cosmetics industry into a new phase of high-quality development centered on innovation and quality.
