The import of eye make-up preparations to China has seen notable growth from 2013 to 2023. Starting at $59.089 million in 2013, the value has increased to $250.54 million in 2023. The annual growth rate showed substantial variability; significant peaks include 57.79% in 2018, while negative growth occurred in 2019. Over the last two years, the growth rates moderated to 5.55% in 2022 and 5.15% in 2023. The CAGR over the last five years stands at 3.57%.
The forecasted data from 2024 to 2028 predicts a continuation of growth, with a five-year CAGR of 3.29% and an overall forecasted increase of 17.57% from 2023 to 2028. This suggests a steady, albeit slower, growth compared to some of the peaks in earlier years.
Future trends to watch for:
- Consumer preferences shifting towards premium and sustainable products could drive higher import values.
- Impact of economic policies and potential tariff adjustments that may affect import costs.
- Continued growth in online beauty retailing providing new market opportunities.
- Influence of changing demographics and increasing urbanization on cosmetic consumption patterns.