Hong Kong continues to be a thriving cosmetics and personal care market, with its local consumer base enjoying ample spending power, and with traders benefiting from its strategic location as an import gateway to mainland China.
GlobalData, a provider of business information and analytics, valued Hong Kong’s cosmetics market at Hong Kong dollars HK$18.1bn (US$2.3bn) in 2016, largely dominated by imports.
GlobalData defines this market as including sales of fragrances, hair care, make-up, male toiletries, skin care and sun care, as well as feminine, oral and personal hygiene products.
In 2016, skin care was the largest segment in the special administrative region’s overall personal care product industry, valued at HK$7.7bn ($996.7m).
This was followed by the colour cosmetics and hair care sectors, valued at HK$2.1bn ($269.5m) and HK$1.9bn ($251.0m) respectively.
Demand in this 7.3-million-people market was fragmented, with the top ten companies accounting for around 50% of cosmetic and toiletry sales.
Procter & Gamble, L’Oréal, Estée Lauder, Shiseido and Unilever are