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Wednesday, November 30, 2022Market

Export: understanding Northeast Asia

Export : bien appréhender l'Asie du Nord-Est

In order to help all French cosmetic companies to expand internationally, Business France has just published a brochure that brings together some elements (figures, trends…) to know about three key countries in North-East Asia: China, South Korea and Japan.

Reading time
~ 3 minutes

Business France has identified the opportunities presented by these three promising countries.

China

In 2021, the cosmetics market was worth $84.8 billion. After a complicated health period, growth is back as all segments are on the rise (+29.7% more sales for fragrances, +10.1% for hair care, +8.8% for skin care and +10.1% for make-up).
“French cosmetics enjoy a very good reputation in China, especially in terms of health safety and environmental responsibility. In 2021, China has become the leading export market for French products, ahead of the United States and Germany (11.7% of total exports),” explains Business France.

Despite strong digitalization, the majority of sales (in value) of care is still made in the physical circuit (56%). This does not mean that we should neglect e-commerce, which represents 38.6% of purchases.

Among the growth sectors, we find:
• Perfumes
• Men’s care
• Dermocosmetics
• Natural products

South Korea

In the country of K-Beauty, the cosmetics sector will be worth 13.8 billion dollars in 2021.
As in China, all categories are showing renewed growth (+12.4% for fragrances, +2.6% for hair care, +12.5% for skin care). Despite a very high quality local offer, France has a very good image in South …

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