The export of Essential Oils, Perfumes, Cosmetics, and Toiletries from China has shown a consistent upward trend over the years. Between 2013 and 2023, the value increased from $3.5691 billion to $6.5647 billion, representing robust growth with some fluctuations. In 2023, the exports stood at $6.5647 billion, which was a 3.69% increase over the previous year. The last two years showed growth rates of 3.91% and 3.69%, highlighting a stabilization phase. The 5-year CAGR ending in 2023 was 3.47%, marking a moderate growth trend.
Looking forward, forecast data indicates a continuation of this growth, with exports expected to reach $7.7838 billion by 2028. The forecasted 5-year CAGR is 2.68%, suggesting a slight deceleration in the rate of increase. Total growth over this period is anticipated to be 14.12%.
Future trends to watch for:
- Increasing demand in emerging markets.
- Impact of global economic conditions on luxury goods.
- Regulatory changes affecting the cosmetics and toiletries market.
- Innovations in product development and consumer preferences.