China Cosmetics Market
U.S. cosmetics and toiletries exports to China reach a new record, indicating ample opportunities for U.S. firms in the Chinese beauty market.
A strong growth forecast driven by China’s growing middle-class, is estimated to reached 1.2 billion by the end of 2030. Rising consumer disposable income has contributed to the spike in demand.
Online sales are driving this market expansion, given the numerous advantages of selling through cross-border channels, as opposed to traditional retail stores. Cross-border products largely bypass Chinese product registration requirements if shipped directly to consumers, thereby saving significant time and costs for U.S. exporters. It also provides American firms the opportunity to avoid China’s stringent animal testing requirement.
According to Statista, with a total market size of $42.8 billion in 2019 and $13.2 billion in imports, China is forecast to become the largest global market for personal care and cosmetics products within the next five years. The U.S. exported $891 million of cosmetics and toiletries to China in 2019, up 27 percent from the previous year, and an increase of 115 percent from 2016.
For more information contact Office.Beijing@trade.gov.