Market Insights Consumer Beauty & Personal Care

Skin Care - Hong Kong

Hong Kong

In Hong Kong, the revenue generated in the Skin Care market is projected to reach US$622.20m by 2024.
This market segment is expected to experience an annual growth rate of 1.74% (CAGR 2024-2029).
When compared to other countries globally, in the United States leads in revenue generation, with an estimated amount of US$24,350m in 2024.
In terms of per capita figures, each person in Hong Kong is expected to generate US$83.00 in revenue in 2024.
Furthermore, it is anticipated that by 2024, [max[maxNon-LuxuryRevenueShare]RevenueShareValue] of the total sales in the Skin Care market will be attributed to [maxNon-LuxuryRevenueShare].
In Hong Kong, the demand for luxury skincare products has surged, with consumers seeking high-end brands to achieve flawless and radiant skin.

Key regions: United Arab Emirates, Malaysia, United Kingdom, South Korea, Indonesia

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.