Taiwan is a small island state, but its cosmetics market is important (3.98 billion euros) and has a good growth (+ 2.4% in 2020). And despite a drop in the value of beauty product imports due to the health crisis, this country remains an area of interest for all French brands seeking to expand internationally. Business France’s Team France Export has listed all the fundamentals to master in order to export cosmetics.
The Taiwanese beauty sector is divided as follows:
• Skin care (2 billion euros in value)
• Make-up (660 million)
• Hair care (433 million)
• Perfumes (166.7 million)
• Dermocosmetics (154.3 million)
Unlike other countries, the premium cosmetics segment (3.9% growth) has not suffered from the pandemic.
On the contrary, citizens indulged themselves and allocated more budget to their beauty spending thanks to the savings they made by not being able to travel, for example.
Market characteristics
Foreign supply accounts for nearly 70% of the market. Taiwan’s main suppliers are Japan (24%), France (17%) and the United States (16%).
“The local offer is gradually developing with a cosmetic production estimated at 1.17 billion euros, of which 240 million euros will be exported in 2020,” comments Business France. “Historically present on the mid-range and entry-level, Taiwanese brands are trying a more qualitative positioning on facial care, cleansers, dermo-cosmetics, ingredients and professional care.”
Positioning of the French offer
France is the leading supplier of perfumes and the second largest supplier of cosmetics to Taiwan.
Imports fell by 15% in 2020 due to transport difficulties linked to the Covid-19 crisis. The image of French skincare is very positive in the Taiwanese imagination. …
