Top Export Markets for Makeup & Cosmetics
If you are a makeup or cosmetics manufacturer looking to expand internationally, identifying the right countries to target internationally can be difficult. This article analyzes import volumes for these products for different countries between 2012 and 2016. Based on this analysis we identify the fastest growing and largest export markets for these products to help you prioritize your international expansion strategies.
The data in this analysis is from the International Trade Centre (ITC). It is limited to the following product categories as categorized by the ITC:
Product Group 3304 (Beauty or make-up preparations)
Product Group 3305 (Preparations for use on the hair)
Product Group 9616 (Scent sprays and similar toilet sprays)
Product Group 9617 (Vacuum flasks and other vacuum vessels)
Makeup & Cosmetics Imports Analysis by Region
We can see that the largest import market for these products is Europe & Central Asia (approximately US$ 23 billion in 2016). Average annual import growth between 2012 and 2016 was also positive in this region. This means entering the market and gaining share could be relatively easier. In addition, East Asia & the Pacific and North America also showed strong growth during this time period with substantial import volume. Targeting these regions could also be beneficial.
Targeting countries in your own region of the world first is sometimes the easiest way to start growing intentionally. We now focus on each one of these regions individually to understand what countries might be your best targets for international expansion. High import volume and high year over year import growth are two metrics you want to continue focusing on when looking at countries within a specific region.
Makeup & Cosmetics Imports Analysis for East Asia & Pacific Countries
Within East Asia & Pacific, the countries with the highest volume of imports in 2016 are China, Hong Kong, Japan, Singapore, South Korea, Taiwan, Australia and Thailand. Most of these countries have strong import growth with China growing extraordinarily fast. In addition, the Philippines and Vietnam also have high growth in imports making them great targets for expansion.
Makeup & Cosmetics Imports Analysis for Europe & Central Asia Countries
Within Europe & East Asia, the countries with the highest volume of imports in 2016 are United Kingdom, Germany, Belgium, Spain, Italy, Russia, Netherlands and Poland. Most of these countries have strong import growth with the exception of Russia. In addition, Czech Republic, Ireland Turkey, Romania and Hungary have high growth in imports although limited volume.
Makeup & Cosmetics Imports Analysis for Latin America & Caribbean Countries
Within Latin America & Caribbean, the countries with the highest volume of imports in 2016 are Mexico, Chile, Argentina, Peru, Colombia and Brazil. Import growth in Mexico and Peru has also been strong. In addition, Guatemala, Costa Rica, El Salvador, Dominican Republic and Honduras have all been posting high growth in imports as well.
Makeup & Cosmetics Imports Analysis for Middle East & North Africa Countries
Within the Middle East & North Africa, the countries with the highest volume of imports in 2016 are United Arab Emirates, Kuwait, Israel and Iran. Saudi Arabia, Kuwait and Israel have strong growth in imports as well. In addition, Algeria, Morocco, Jordan, Lebanon, Oman and Bahrain have had high growth in imports although limited volume.
Makeup & Cosmetics Imports Analysis for North America Countries
Within North America, the countries with the highest volume of imports in 2016 are the United States and Canada. Both also have strong year over year import growth with imports in the United States growing especially fast.
Makeup & Cosmetics Imports Analysis for South Asia Countries
Within South Asia, the countries with the highest volume of imports in 2016 are India, Pakistan, Nepal and Sri Lanka. All of these countries have had quite strong year over year growth in imports as well.
Makeup & Cosmetics Imports Analysis for Sub-Saharan Africa Countries
Within Sub-Saharan Africa, the country with the highest volume of imports in 2016 is South Africa. Import growth in South Africa however has been negative. Other countries in this region with positive import growth include Kenya, Guinea, Zambia, and Ethiopia although they have more limited volume.
Getting Serious About Expanding Internationally?
Analyzing data is the first step to building a strategic plan for international expansion. Once you've identified your potential target countries for expansion, you can use our online platform to find local partners in those countries. Learn more about our platform here and then signup to add your products, set your partnership terms and review partnership offers you'll start receiving from local partners.