Beauty & Personal Care - Hong Kong

  • Hong Kong
  • The revenue in the Beauty & Personal Care market in Hong Kong is projected to reach €2,126.00m in 2024.
  • It is anticipated that the market will grow annually by 2.21% (CAGR 2024-2028).
  • The largest segment in this market is Personal Care, with a market volume of €938.30m in 2024.
  • When compared globally, in the United States generates the highest revenue in this market, amounting to €93bn in 2024.
  • In terms of per person revenue, in Hong Kong generates €283.60 in 2024.
  • Furthermore, online sales are expected to contribute 25.4% of the total revenue in the Beauty & Personal Care market in Hong Kong by 2024.
  • Hong Kong consumers are increasingly gravitating towards clean and sustainable beauty products, reflecting a growing demand for eco-conscious choices in the Beauty & Personal Care market.

Key regions: United States, Worldwide, India, Indonesia, Canada

 
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Analyst Opinion

The Beauty & Personal Care market is thriving and one of the fastest growing consumer markets, driven in particular by the Cosmetics and Skin Care segments. The main reason for this strong growth is the generational shift with young consumers entering the market. At the same time, this change is reinforced by social media, internationality, and eCommerce, which have a lasting effect on buying behavior when it comes to beauty products. Trends from all over the world are spreading and changing the daily beauty and care routine.

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.

Visión general

  • Revenue
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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