Market Insights Consumer Beauty & Personal Care

Cosmetics - Hong Kong

Hong Kong

In 2024, the revenue in the Cosmetics market in Hong Kong amounts to HKD €342.30m.
It is projected that the market will experience an annual growth rate of 1.85% (CAGR 2024-2029).
When compared to other countries globally, in the United States generates the highest revenue in the Cosmetics market, with a total of HKD €18,470m in 2024.
Taking into account the population figures, per person revenues of HKD €45.66 are generated in 2024.
Additionally, it is estimated that 72% of sales in the Cosmetics market by 2024 will be attributed to Non-Luxury.
The demand for skincare products in Hong Kong has surged, with consumers increasingly seeking out natural and organic options.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.