Skin Care Market - Increasing Exports to China Has Become a Key Growth Driver of the European Skin Care Industry
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The EU is actively expanding skin care exports to the foreign markets. The U.S. remains the largest export market, while Asian countries, specifically China and Singapore, are the fastest growing importers. Export expansion on the external market is the main source of growth in the European manufacturing of skin care.
Total exports of skin care by the EU Member States have exhibited higher growth rates over the last four years, amounting to X million EUR in 2015. Data regarding the EU trade with non-EU countries shows that the EU remains a net exporter of skin care.
France has traditionally been the main supplier on the EU skin care market, with a stable X% share of total exports. Germany (X%), the U.K. (X%), and Italy (X%) followed. From 2007 to 2015, the leading countries showed an increase in exports, with Italy growing at +X% per year, France at +X%, and Germany and the U.K. growing at +X% per year each.
The skin care trade remains intensive within the European countries. Meanwhile, about a half of the total exports were sent outside the EU in 2015. The extra-EU exports reached X million EUR that year, rising rapidly over recent years.
The EU skin care industry keeps strongly oriented on foreign markets, as the share of extra-EU exports in the total EU skin care output amounted to about X% in 2015. Stable demand from overseas markets offers significant support to the recovery of the EU skin care manufacturing. For many years, the U.S. (X%) was the main foreign market, followed by Russia (X%), Switzerland, China, and Singapore (X% each). Exports to these countries have traditionally comprised a little over X% of extra-EU exports. Despite the relatively stable volumes of deliveries, Russia's share of extra-EU exports declined by X percentage points from 2008. At the same time, China and Singapore have increased their shares in the extra-EU trade, which enabled these countries to enter the top-X key foreign markets for European skin care.
Since the European market has traditionally been saturated with skin care products, a sharp increase in consumption on the domestic market is unlikely. Moreover, European producers are experiencing significant pressure from rapidly increasing imports. Under these conditions, the rapid growth in supply towards Asian is a key driver of the development of the European skin care industry. High rates of economic growth and active urbanization, as well as the popularization of western fashion, makes Asian markets promising consumers, particularly China and Singapore. Significantly increasing exports to the U.S. are also making a significant contribution.
Do you want to know more about the EU skin care market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- skin care market share
- skin care prices
- skin care industry
- skin care sales
- skin care market forecast
- skin care price forecast
- key skin care producers
Source: IndexBox AI Platform
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