Alibaba.com B2B Pulse: April 3rd, 2024

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Skincare Products for Traveling in Summer 2024

The skincare market is thriving, with its value projected to reach a staggering $196.20 billion by 2030, a remarkable 4.7% increase from 2023. With the rise of influential content creators and the surge of organic products, the skincare industry is experiencing unprecedented growth. In 2022, the female segment dominated the market with over 61% revenue share, while the male segment is anticipated to grow rapidly at a 5.0% compound annual growth rate (CAGR). Face creams and moisturizers emerged as frontrunners in product sales, constituting 42.11% of total revenue. Notably, Asia-Pacific claimed the lion's share of revenue in 2022, with North America following closely behind, poised to experience a 4.4% CAGR from 2024 to 2030. Dive deeper into the trends shaping the skincare landscape here .

Freight Market Update

Ocean freight rates between China and North America have trended downwards in the past week, with rates to the US West Coast falling by 12%, and to the East Coast by 10%. The recent incident in the Port of Baltimore is expected to cause temporary logistical challenges, but minimal long-term disruption. The effect on rates remains to be seen. Similarly, the air freight market from China to both the US and Europe has also seen lower rates, decreasing by 5% to North America, and 10% to Northern Europe. The situation remains robust, however, as demand levels continue to evolve and carriers react to exogenous factors.

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