French perfume and cosmetics exports continue to surge

Despite slowdowns in major markets such as China and the United States, French perfume and cosmetics exports are still growing rapidly year-on-year. According to data disclosed by the French Federation of Beauty Companies (FEBEA), after growing by 18.8% in 2022, it grow by 10.8% in 2023, exceeding the 20 billion euro mark for the first time.

In 2023, French cosmetics exports increased by 10.8%, setting a new record of 21.3 billion euros, compared with 19.3 billion euros in 2022. This is the third consecutive year of double-digit growth, following an 11.8% drop in exports in 2020 due to pandemic-related accidents.

"Crossing the €20 billion mark is a clear symbol of the vitality of our industry. Despite the pandemic and the accompanying logistical obstacles, our export volumes have doubled in 10 years." said Emmanuel Guichard, General Representative of FEBEA.

Among the categories driving growth in French exports, fragrance appears to be the industry's powerhouse. Sales outside France rose by 10.5% to €7.1 billion in 2023, a figure that has doubled since 2019.

Facial makeup products and skin care products also performed well, growing by 9.9% to 11.0 billion euros, while hair care products had the strongest growth, increasing by 15.8%.

In 2023, the two main markets for the French beauty industry: the United States and China, slowed down sharply.

The United States is the main global buyer of French-made cosmetics, with exports to the United States growing by 2.8% in 2023 and 26.7% in 2022. While one fifth of France’s fragrance products are exported to the United States, exports in this category will grow by only 1.9% in 2023 to €1.2 billion. Exports of cosmetics and facial care products increased by 5.3% to reach €1.1 billion in 2023.

China became the French beauty brand's No. 1 customer in 2020, but growth continues to slow. In 2023, France's exports to China increased by 1.7%, reaching 1.99 billion euros. EU countries have become the growth baton for the French cosmetics industry. In 2023, the region accounted for 40.2% of total French exports, reaching 8.6 billion euros, an increase of 20.8% compared to 2022.

In the Middle East, French cosmetics exports fell by 2.9%, notably due to a sharp decline of 19% in exports to Saudi Arabia, partially offset by export growth of 6% in the United Arab Emirates.

"The strong growth in our exports to the EU is a nice surprise compared to the trends of previous years. It shows that when the global environment changes, French businesses are able to find new growth drivers and reposition themselves in new markets." Emmanuel Guichard added.

France remains the world's leading exporter of cosmetics. More than 60% of France's total cosmetics production is exported. In 2023, the industry became the second largest contributor to the trade balance, behind aviation and ahead of wine and spirits.