Cosmetics and skin care market in Finland

Earlier Report Observations

The Finnish cosmetics and skin care market demonstrated steady expansion between 2018 and 2022, rising from 158.3 million USD to 205.2 million USD. This growth occurred despite emerging challenges such as higher energy prices raising production costs and local raw material availability issues in 2022, which were offset by increased sales within the organized industry sector.

A sharp market surge of 25% to 257.3 million USD took place in 2023, coinciding with regulatory authorities removing non-compliant and hazardous products from sale, likely reinforcing consumer confidence. The upward trend continued in 2024, reaching 274.7 million USD, as new EU-wide restrictions on ingredients and stricter packaging labeling rules came into effect, prompting industry adaptation.

Production cosmetics and skin care in Finland

In value, 2017-2020, K $ US

Finland's cosmetics and skincare production has grown for the third consecutive year. In 2020, output reached 81 543 thousand US dollars, marking a moderate increase of 7.6% compared to the previous year. Over the period from 2017 to 2020, production rose by 62.4%, with an average annual growth rate of 17.6%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

Exports cosmetics and skin care from Finland

Exports in kind, t

The market displayed an unstable trend throughout the period. Exports bottomed in 2019 at 41 tonnes and peaked in 2020 at 737 tonnes, representing an 18-fold difference. In 2020, Finland's cosmetics and skincare export volume surged by 1,718.0% year-over-year. The largest decline occurred in 2019, dropping by 94.4%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Russia, Sweden, and Estonia were the leading destinations for Finland's cosmetics and skincare exports in volume terms. Russia accounted for 31.9% of exports, Sweden for 19.3%, and Estonia for 11.5%, with their combined share totaling 62.8% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

After a two-year increase, Finland's cosmetics and skincare exports declined. In 2020, exports were recorded at 36.3 million US dollars, showing no significant change compared to 2019. Between 2017 and 2020, exports grew by 26.3%, equivalent to an annualized rate of 8.1%. The maximum value was reached in 2019 at 36.4 million US dollars, with the largest increase that year at 15.4%.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

From 2017 to 2020, Sweden, Russia, and Estonia remained the top destinations for Finland's cosmetics and skincare exports in value terms. Sweden represented 32.4% of exports, Russia 22.2%, and Estonia 8.9%, together accounting for 63.6% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports cosmetics and skin care to Finland

Imports in kind, t

The market showed signs of volatility over the observed period. Import volumes peaked in 2018 at 5 795 tonnes and fell to a trough in 2019 at 216 tonnes, with a top-to-bottom ratio of 27 times. In 2020, Finland imported approximately 5 769 tonnes of cosmetics and skincare, representing a sharp rise of 2,566.1% year-over-year. The largest decline occurred in 2019, dropping by 96.3%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

During 2017–2020, cosmetics and skincare imports to Finland were distributed across many different markets. Even the largest suppliers—France, Germany, and Sweden—together represented only 47.0% of total imports in volume terms.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

In 2020, Finland's cosmetics and skincare imports amounted to 137.2 million US dollars, which is 1.9% higher than the previous year. Between 2017 and 2020, imports increased by 14.6%, equating to an annualized rate of 4.6%. The largest decline was recorded in 2019 at 0.7%, while the largest increase occurred in 2018 at 13.2%.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

From 2017 to 2020, the country breakdown of imports in value terms was scattered. France, Sweden, and Germany were the leading suppliers, accounting for 18.7%, 11.8%, and 11.7% of imports, respectively, but together they represented just 42.1% of total flows, with no single partner standing out as clearly dominant.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020