Following a stellar year in 2022, the French cosmetics industry continues to experience robust growth in its exports, registering an impressive 15.6% increase in the first five months of 2023. This growth persists despite a slowdown in the Chinese market.
The demand for French cosmetic products remains high, primarily driven by European markets and the United States. According to data from the Federation for Beauty Companies (FEBEA), France exported cosmetics worth 8.6 billion euros in the first five months of 2023, reflecting a 15.6% surge compared to the 7.4 billion euros exported during the same period the previous year.
This demonstrates the enduring global appeal of French cosmetic products. In 2022, these products witnessed an 18.8% surge, and the mid-year report for 2023 affirms the strength of the two most successful categories in French beauty: “Perfumes” and “Make-up and face skin care,” which posted impressive growth rates of 16.7% and 16%, respectively. Together, these two categories account for nearly 86% of French exports. Nevertheless, the FEBEA notes that “all categories of cosmetic products recorded good results.”
The driving force behind French cosmetic exports has shifted from China to the European Union and the United States. The European Union remains the top export market for French cosmetics, with 3.4 billion euros exported between January and May 2023, marking a substantial 26.1% increase compared to the previous year. Germany, Europe’s largest beauty market, has emerged as the primary importer of French cosmetics, with a growth rate of 22.2% in the first five months of 2023. Spain and Italy also showed strong growth, with export increases of 22.6% and 21.3%, respectively.
In the United States, French cosmetic exports expanded by 15.4% during the same period, solidifying the United States’ position as the leading buyer of French cosmetic products. Currently, one in five perfume products is exported to the USA.
In contrast, exports to China grew by a modest 1.1% in the first five months of the year compared to 2022. This slight increase is disappointing for the French industry, although the “Makeup and face skin care” category managed a 5.9% growth. China’s economic struggles have cast a shadow on the entire Asian region, where exports only grew by 6.7%. Meanwhile, the Middle East experienced a slight decline in performance, with a 0.4% drop in exports, primarily attributed to reduced sales to Saudi Arabia (-25.4%), while the United Arab Emirates continued to exhibit robust growth (+14.5%).
Emmanuel Guichard, the general delegate of FEBEA, commented on these disparities, noting that they do not hinder the overall remarkable export growth of the French cosmetics industry. He highlighted the industry’s role in improving the French trade balance, emphasizing its innovation capacity and the contributions of small and medium-sized enterprises (SMEs) and very small enterprises (VSEs), which make up more than 80% of companies in the sector. Their dynamism and creativity continue to enhance the attractiveness of French cosmetics worldwide.
In total, over 60% of the French cosmetics industry’s total production is exported, reaffirming its position as a global leader in the beauty and cosmetics sector.
