J-beauty celebrates record year as exports hit ¥500 billion

J-beauty celebrates record year as exports hit ¥500 billion

Exports of Japanese cosmetics were on course to break the ¥500 billion barrier for the first time as the J-beauty camp delivered another record performance in 2018, according to a report published by the Nikkei Asian Review.

Exports accelerated 44 percent year-on-year in the Jan-Nov 2018 period, reaching ¥482.8 billion. Nikkei is estimating that holiday gifting will boost the total to approximately ¥520 billion for the full year.

China accounts for 34.9 percent of exports by value, while Hong Kong is the second biggest market for J-beauty (25.9 percent). South Korea is third with 10.3 percent, tailed by Taiwan (7.3 percent) and Singapore (7.3 percent). Some 90 percent of all J-beauty exports are destined for Asian markets.

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