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The Russian cosmetics market grew steadily between 2017 and 2022. In the latest year observed, retail sales of cosmetics and perfumes in specialized stores exceeded ** Russian rubles. Over the course of 2022, the revenue increased by over * Russian rubles.

Cosmetic market overview

The cosmetics market in Russia was estimated to generate approximately **** billion U.S. dollars in revenue in 2024 and reach nearly *** billion U.S. dollars by 2028. The face cosmetics recorded the largest revenue, at around *** million U.S. dollars in 2024. In terms of the luxury and non-luxury cosmetics divide, roughly **** of the revenue on the Russian cosmetics market was generated by luxury products. 

COVID-19 impact on the cosmetic market

Given a high dependency on in-store sales, a lockdown of retail businesses as one of the preventive measures of the coronavirus (COVID-19) expansion in the country, had a drastic impact on the cosmetics business in Russia. While the shopping mall traffic evolved at a negative pace, major cosmetic retailers tried to reinvent their businesses, heavily relying on e-commerce and hygienic product sales. Nevertheless, the average receipt value dropped by approximately ** percent in 2021 relative to the previous year.