China Has Become the World's Largest Consumer Market for Cosmetics
With Chinese aesthetics gaining global attention, China's cosmetics industry is showing strong development momentum. According to recent reports from CCTV Finance and related data, China has become the world's largest consumer market for cosmetics, with the industry scale exceeding one trillion yuan threshold for two consecutive years.
Data from the National Bureau of Statistics shows that in the first quarter of 2025, the export value of cosmetics nationwide reached $1.69 billion, a year-on-year increase of 14.1%. The total retail sales of cosmetics in the first half of the year reached 229.1 billion yuan, setting a new high in nearly five years. From the perspective of trade structure, the total import and export volume of cosmetics products in the first quarter was $5.6 billion, a year-on-year increase of 1.6%. Among them, the import volume was $4.03 billion, a year-on-year decrease of 3.1%.
In terms of market structure, domestic brands performed outstandingly. In 2024, the transaction volume share of domestic brands reached 55.2%, surpassing international brands for the first time, marking a significant improvement in the competitiveness of China's local cosmetics industry.
From the distribution of export markets, the United States, Hong Kong (China), Indonesia, the United Kingdom, and Japan constitute the top five export markets, accounting for a total of 45.9% of the total exports. It is worth noting that the export growth to Indonesia is particularly prominent, with a year-on-year surge of 147.9% in the first quarter.
On the other hand, the primary sources of imported cosmetics remain concentrated in Europe, America, Japan, and South Korea. France, Japan, South Korea, the United States, and the United Kingdom rank in the top five, accounting for 80.2% of the total imports. Among them, the total import value of cosmetics from France reached $1.15 billion, accounting for 29.6% of the total import value, achieving growth for the first time after three consecutive years of decline.
In terms of product categories, beauty and skincare products dominate both import and export trade. On the export side, the export value of beauty and skincare products was $960 million, a year-on-year increase of 16.6%. Perfume surpassed body care products for the first time and became the second largest cosmetics import category.
Insiders stated that driven by domestic consumption upgrades and overseas expansion demand, China's cosmetics industry is accelerating supply-side structural reform. It is enhancing market competitiveness by improving product quality and optimizing the industrial structure.
