The import of lip make-up preparations to Finland exhibited fluctuations over the past decade. In 2013, the value stood at $10.569 million, experiencing a general downtrend until 2015. Post-2015, Finland saw a significant positive shift, peaking in 2018 at $13.623 million. Following a minor slowdown in 2019 and 2020, the market witnessed consistent growth from 2021 onwards, reaching $14.882 million by 2023. Year-on-year growth for the past two years was 2.47% in 2022 and 2.36% in 2023, with the 5-year CAGR ending 2023 being 1.78%.
Future Trends to Watch For:
- Increased consumer demand for premium and organic lip products.
- Technological advancements in formulations, such as long-lasting and multi-functional lip products.
- Rise in online retailing and e-commerce influence.
- Potential external economic factors affecting disposable income and consumer spending.
The forecast indicates steady growth in the import value, projected to reach $16.678 million by 2028, suggesting a robust market outlook.