The revenue in the 'Prestige Cosmetics & Fragrances' segment of the luxury goods market in China was forecast to continuously increase between 2024 and 2029 by in total 3.5 billion U.S. dollars (+32.2 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 14.32 billion U.S. dollars and therefore a new peak in 2029.
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Revenue of the prestige cosmetics & fragrances market in China from 2019 to 2029
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Data provided by Statista Market Insights are estimates.
Definition:
Prestige Cosmetics & Fragrances are comprised of Prestige Skin Care, Fragrances and Decorative Cosmetics. Skin care products constitute the bulk of sales with roughly 50 percent of all sales revenues. With a high share of licensed designer and celebrity-themed products, prestige beauty products stand out from the other luxury segments covered here due to their relative affordability.
The overall market definition is aligned with the Consumer Market Insights Beauty and Personal Care Cosmetics market, while here only the super- and ultra-premium range is considered, and hair care, oral care and personal hygiene products are excluded. Likewise, professional products produced for hair salons or cosmetic parlors are not included. Covered are only product sales and no beauty services.
Structure:
The Prestige Cosmetics & Fragrances market is divided into 3 markets:
Prestige Cosmetics including decorative cosmetics like make-up, lipsticks and gloss, eyeshadow and mascara, nail polish and similar products.
Prestige Skin Care includes skin creams and lotions for face and body care, lip care products as well as hand and foot care products.
Prestige Fragrances includes perfumes and eaux de toilette. Not included are deodorants or room scents.
Additional Information:
The shown market data are based on an analysis of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Sales by smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.
An important sales driver in cosmetics, especially fragrances, are licenses from established fashion brands. Coty, for instance, holds licenses for Burberry, Calvin Klein, Gucci, Hugo Boss and Balenciaga among others, while Estée Lauder currently licenses Ermenegildo Zegna, Michael Kors, Tommy Hilfiger and Tory Burch, and L’Óréal markets cosmetics and fragrances under the Armani, Yves Saint Laurent and Valentino brands. All sales of licensed products are attributed only to the licensee to avoid double-counting of revenues.
Some of the key players are L’Óréal’s Luxe division (with brands such as Lancôme and Biotherm), Estée Lauder (Aramis, Clinique, MAC and other brands) and LVMH’s perfume and cosmetic brands (e.g. Givenchy, Benefit) as well as Coty’s Luxury and Shiseido’s Prestige divisions.
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Statista Market Insights. (October 1, 2024). Revenue of the prestige cosmetics & fragrances market in China from 2019 to 2029 (in billion U.S. dollars) [Graph]. In Statista. Retrieved February 22, 2025, from https://www.statista.com/forecasts/1436354/revenue-prestige-cosmetics-fragrances-luxury-goods-market-china
Statista Market Insights. "Revenue of the prestige cosmetics & fragrances market in China from 2019 to 2029 (in billion U.S. dollars)." Chart. October 1, 2024. Statista. Accessed February 22, 2025. https://www.statista.com/forecasts/1436354/revenue-prestige-cosmetics-fragrances-luxury-goods-market-china
Statista Market Insights. (2024). Revenue of the prestige cosmetics & fragrances market in China from 2019 to 2029 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: February 22, 2025. https://www.statista.com/forecasts/1436354/revenue-prestige-cosmetics-fragrances-luxury-goods-market-china
Statista Market Insights. "Revenue of The Prestige Cosmetics & Fragrances Market in China from 2019 to 2029 (in Billion U.S. Dollars)." Statista, Statista Inc., 1 Oct 2024, https://www.statista.com/forecasts/1436354/revenue-prestige-cosmetics-fragrances-luxury-goods-market-china
Statista Market Insights, Revenue of the prestige cosmetics & fragrances market in China from 2019 to 2029 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/1436354/revenue-prestige-cosmetics-fragrances-luxury-goods-market-china (last visited February 22, 2025)
Revenue of the prestige cosmetics & fragrances market in China from 2019 to 2029 (in billion U.S. dollars) [Graph], Statista Market Insights, October 1, 2024. [Online]. Available: https://www.statista.com/forecasts/1436354/revenue-prestige-cosmetics-fragrances-luxury-goods-market-china
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