In 2023, the import value of beauty, make-up, and skin care preparations to Singapore stood at USD 3.40 billion. From 2024, forecasted data sees a consistent upward trend. The year-on-year variation from 2024 to 2025 shows an increase of 4.03%. From 2025 to 2026, we observe a rise of 3.78%. The period from 2026 to 2027 reflects a growth of 3.58%. Finally, from 2027 to 2028, the import value is expected to grow by 3.38%, culminating in a projected value of USD 4.1084 billion in 2028. The compound annual growth rate (CAGR) over the last five years averages approximately 3.78%.
Future trends to watch for include the rising consumer demand for organic and eco-friendly beauty products, regional economic conditions affecting consumer spending, and technological advancements driving innovation in the beauty and skincare industry. The influence of social media and shifting consumer preferences towards premium and personalized products will also play a crucial role in shaping future imports.