APD | Japan, South Korea two largest cosmetics exporters to China

By APD writer Alice

South Korea and Japan are the first and second largest cosmetics exporters to China, accounting for 25.2 percent and 25.5 percent of China’s imported beauty products, respectively, in the first 10 months of this year.

France came in third, accounting for 18.7 percent of the country’s total cosmetics imports, followed by the United States and the United Kingdom, according to IHS Global Trade Atlas.

South Korea overtook France in 2016 and has maintained the status for three years

However, Japan is now threatening to overtake its No. 1 position in the Chinese market on the back of the growing popularity of low- to mid-priced "J-beauty" products, it said.

In the January-October period, China spent $9.67 billion importing cosmetics products, up 31.7 percent year-on-year. The figure is expected to surpass the $10 billion mark by the end of this year.

South Korea’s total cosmetics exports increased 26 percent to 6.29 billion USD in the first quarter of this year, making it the fifth largest exporter of beauty products in the world. Meanwhile, Japan’s cosmetics shipments hit 5.2 billion USD, up 42 percent year-on-year, jumping one place to the globe’s 7th position.

(ASIA PACIFIC DAILY)