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 €345.90m.
It is projected that the market will experience an annual growth rate of 2.22% (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 €18,660m in 2024.
Taking into account the population figures, per person revenues of HKD €46.13 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

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.