Unit: $1 million
The demand for cosmetic products diminished globally during the pandemic as there were fewer occasions to wear make-up given guidelines on working from home, social distancing and wearing masks. Meanwhile, there was a rise in consumption focused on skincare products to address skin troubles that stemmed from wearing masks for a long period of time. This led to increased exports of facial masks and hair products driven by increased homecare and self-care beauty routines.
Export growth rate continues in China and Japan
Unit: $1 million
Five countries, including China, accounted for 80% of total exports in 2020. Among them, exports to Greater China accounted for 50.3% while exports to Japan rose by 58.9% compared to the year-earlier period thereby demonstrating a strong export growth to key countries.