Forecast: Import of Essential Oils, Perfumes, Cosmetics and Toileteries to China

From 2013 to 2023, the import value of essential oils, perfumes, cosmetics, and toiletries to China increased from $2.38 billion to $14.99 billion, showing a sizable growth overall. The strongest annual growth rates were recorded between 2014 and 2018, with a peak year-on-year increase of 61.61% in 2018. Recently, however, growth rates have slowed, with 2023 showing a modest year-on-year growth of 5.51%. The compound annual growth rate (CAGR) has followed a decreasing trend, dropping from 39.01% in 2018 to 3.92% over the past five years.

Future forecasts indicate continued modest growth, with values projected to reach $18.69 billion by 2028, yielding a 5-year CAGR of 3.48%. This trend represents a stabilizing but still growing market.

Future trends to watch for:

• Increasing demand for natural and organic products.
• Growth in e-commerce and online retail channels.
• Changes in consumer preferences influenced by sustainability and environmental practices.
• Impact of global economic conditions on consumer spending power.