Positive global boost in cosmetics e-commerce exports

Recently, a relevant institutions predict that health and cosmetics will become the second fastest growing categories in global e-commerce in the coming years,right after the pet care global market. Cosmetics e-commerce is about to usher in its own golden age.

Under the influence of the COVID-19 in 2020, many retail stores were closed, and the offline real economy of the global cosmetics industry, which accounted for 85% of the total purchase volume of the cosmetics market, was severely hit. The global lockdowns, prevention and control measures and other epidemic prevention measures have continuously expanded the cosmetics business online.

According to McKinsey's data, online sales in the global cosmetics market increased by 20% to 30% during the pandemic. The online sales of beauty products on Sephora and Amazon have both increased by about 30% year-on-year.

Retail Insight, the central research and data insight department, simultaneously pointed out that after COVID-19, the online sales share of global health and cosmetic products will rise to 16.5%, and will rise to 23.3% by 2025. On a global scale, health and beauty will become the second fastest growing category in e-commerce in the coming years.  

From a market perspective, the beauty industry in the Asia Pacific region has the largest market share at 46%, followed by North America at 24%, and Western Europe at 18%. By region, the Asia Pacific region and North America dominate, accounting for over 70% of the total market size.

Southeast Asia, which has been listed as a key future market for the global cosmetics industry. According to istara.com, the market size will reach 304.8 billion RMB by 2025, with a compound annual growth rate of 9.3%, higher than the 8.23% compound annual growth rate of cosmetics in the Chinese market over the next five years.

According to official Shopee data, cosmetics also has always been a hot selling and high potential category in Vietnam, Malaysia, Singapore, and the Philippines. In its recently announced hot sales and high potential categories in the two major Latin American markets of Brazil and Mexico in June, beauty is prominently among them; In Poland, cosmetics has also become one of the most popular categories among local consumers.

In recent years, there has been a significant increase in cosmetic products on Amazon as well. With years of market cultivation, overseas markets have increasingly recognized China's personal care and cosmetic products.

Chinese cosmetic brands such as Perfect Diary, FOCALLUR, GIRLCUT, VNK, etc. have successively set sail through channels such as Amazon and Shopee, and have achieved remarkable results.

The promotion of the epidemic has shown many people the booming business opportunities in global markets. At the same time, the strong recovery of China's supply chain has also accelerated the development speed of trade technology, making  consumers feel the power of China's technology. This is also an important driving force for Chinese cosmetic brands and raw materials to frequently enter the market.