Year-on-year cosmetics market growth in Russia 2018-2020

The value of the Russian cosmetic market fluctuated over the observed period. The figures experienced a significant decrease of nearly 17 percent in 2020.  

Cosmetic market overview

In 2020, the Russian cosmetic industry was estimated at 11 billion Russian rubles. In 2018, Magnit Cosmetic outperformed the former market leader L’Etoile and accounted for over 90 billion Russian rubles in turnover in that year. In 2020, there were over 14.9 thousand shops of Magnit Cosmetic countrywide. The most sold cosmetic goods in Russia as of the first half of 2019 were perfumery and haircare products.

Global outlook

 The cosmetic market of Asia-Pacific has been expanding gradually year-on-year, making up over 40 percent of the global cosmetic market by 2020. In that year, Western Europe accounted for 16 percent of the industry, where Germany listed in the leading position with a cosmetic consumption of roughly 14 billion euros in 2019.