PALMOILMAGAZINE, TOKYO – Japan has emerged as one of the world’s top five markets in the global cosmetics and toiletries retail industry. With cosmetics exports reaching USD 4.8 billion in 2023, the market is projected to grow at a compound annual growth rate (CAGR) of 2.77% between 2023 and 2028.
Key drivers of this growth include technological innovation, rising consumer preference for organic products, and supportive government policies. Japanese consumers are known for their meticulous standards, especially concerning the safety and efficacy of cosmetic ingredients.
According to the Malaysian Palm Oil Council (MPOC), the skincare segment dominates Japan’s domestic market, accounting for 48% of total cosmetic shipments, followed by haircare products. Industry giant Shiseido Company Limited continues to lead the market with high-quality products favored both domestically and globally.
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While Japan’s cosmetics exports experienced their first decline in 2022—due to inflationary pressures and a consumer boycott in the Chinese market—the industry outlook remains positive, with growth expected to regain momentum in the coming years.
This evolving market presents a promising opportunity for Malaysian palm oil, widely used in cosmetics and personal care formulations, to play a key role in supporting Japan’s demand for effective and sustainable ingredients. (P2)
