French exports of cosmetics and fragrances edged down by 0.1% in 2025, totaling EUR 22.4 billion versus EUR 22.5 billion a year earlier. While the decrease was less pronounced than anticipated in the first ten months of the year, it represents the first contraction observed since the 2008 global financial crisis, apart from the pandemic period. Over the past decade, French exports had recorded an average annual growth of around 7%.
Impact of U.S. tariffs
This significant departure from the long-term trend appears to be driven primarily by the impact of U.S. tariffs introduced under the administration of President Donald Trump.
As a result of these new tariff barriers and the combined depreciation of the U.S. dollar, French cosmetics exports to the United States fell by nearly 19% in 2025, reaching a net amount of 2.4 billion euros, a decline of 541 million euros in value. French customs data show that the downturn accelerated in the fourth quarter, with exports plunging by 25% compared to the same period last year.
However, this drop was partly mitigated by robust demand in other regions, led by the European Union (+4%), which emerged as a major growth contributor over the period. The European Union’s share in French exports thus increased from 51.3% to 54.3% (12.1 billion euros in value).
Outside the European Union, growth was particularly strong in the United Arab Emirates (+8%) and the United Kingdom (+2.9%). China recorded a slight upward trend (+1.2%), with exports totaling €1.8 billion.
Shampoos and hair care products maintained strong growth (+5.5%), though they remain a smaller segment compared with perfumery, the leading contributor to French exports (+1.9% to EUR 8 billion, 36% of the total). Meanwhile, exports of makeup and facial care products — representing nearly half of international sales (EUR 11 billion) — saw a decline of 2.1%.
Deterioration of the trade balance
In 2025, French exports’ weaker performance coincided with a 6% rise in imports, reaching EUR 5.4 billion, led by growth from Asia, mainly South Korea and China. This contributed to a modest decline in the trade balance, which nonetheless stayed in substantial surplus at EUR 17 billion.
In contrast to the robust 12% global growth of South Korea’s cosmetics sector in 2025, the situation highlights concerns over a possible decline in the competitiveness of the French cosmetics industry.
"Despite this stagnation in total exports, the French cosmetics sector remains confident due to new opportunities opened up by free trade agreements with India and Indonesia, to name but a few. Despite the downturn in the US market, the sector is proving resilient. Above all, brands’ commitment to ecological transition and the global desirability of French cosmetics, particularly fragrances, remain solid assets," emphasized Emmanuel Guichard, General Delegate of the FEBEA.
