High demand for skin care and make up product and thriving e-commerce sector are some of the key factors fuelling the growth of China cosmetics market.
According to TechSci Research report, “China Cosmetics Market By Type (Skin care, Hair Care, Bath & Shower products, Makeup & Color Cosmetics, Fragrances & Deodorants), By Demography (Men, Women), By Distribution Channel (Offline (Supermarkets/Hypermarkets, Exclusive Retail Stores, Beauty Parlours/Salon, Multi Branded Retail Stores), Online), By Region, Forecast & Opportunities, 2025”, the market is expected to undergo a double digit CAGR during the forecast period as the country is world’s second largest cosmetics market with presence of some leading cosmetic brands. Big foreign cosmetic companies such as L’Oreal, NIVEA, Avon and OLAY are some top selling brands in the country and have already gained favourite spot among Chinese customers. Moreover, the rising disposable income of China is leading to burgeoning demand for premium cosmetics. Also, increasing population of working women and rise in per capita expenditure on personal appearance are some other key factors propelling the growth of China cosmetics market. With increasing urbanization and social media influence, the market is poised to grow significantly in upcoming years.
Additionally, China is witnessing increasing penetration rate of online cosmetics since 2009 and is further expected to reach to grow rapidly through 2025 due to thriving e-commerce industry. Manufacturers are trying to increase their market share through marketing strategies such as advertisements, collaborations and partnerships. Furthermore, the demand for organic and herbal cosmetic products is pushing manufactures to include Chinese herbs and natural extraction methods for their products. The tremendous economic development in China has increased the use of cosmetics in urban as well as rural areas.
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China Cosmetics market can be segmented based on type, demography, distribution channel and region. Based on type, the market can be segmented into skin care, hair care, bath & shower products, makeup & color cosmetics and fragrances & deodorants. Among them, the skincare segment is anticipated to undergo fastest growth during the forecast period. The prevalence of skin problems such as dryness, itching and rashes due to high level of pollution in Chinese cities is leading to burgeoning demand for skincare products.
Based on demography, China cosmetics market can be categorized into men and women. Among them, women constitute the largest consumer base in China as they tend to spend more on skincare, haircare and makeup products. Moreover, the high purchasing power of working women is enabling them to spend on high end cosmetic products. The influence of social media and presence of foreign makeup brands is another factor which is attracting more female consumers.
Major players operating in the China cosmetics market are Jiangsu LONGLIQI Bio-Science Co, Ltd. (Longrich), Shanghai Inoherb Cosmetics Co, Ltd., JALA Corporation, Zhejiang Osmun Group, Zhejiang Proya Cosmetics Co, Ltd, Tianjin Yumeijing Group Co, Ltd., Softto Co, Ltd., BaWang International (Group) Holding Limited, Guangzhou Huanya Cosmetics Technology Co, Ltd. and Guangdong Marubi Biotechnology Co, Ltd. Leading companies are undertaking growth strategies such as new product launches and collaborations to strengthen their position in China cosmetics market.
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“The average growth rate of China cosmetics market size had maintained at 7.87% from 2010 to 2018. In terms of import trading pattern, in 2018, the country imported more than 200,000 tons of cosmetics products having value of 92 million USD. This figure indicates that foreign cosmetic brands hold a strong position in Chinese market. Moreover, online channel constitutes major distribution channel in China’s cosmetics market and are expected to continue their dominant position during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based China management consulting firm.
“China Cosmetics Market By Type (Skin care, Hair Care, Bath & Shower products, Makeup & Color Cosmetics, Fragrances & Deodorants), By Demography (Men, Women), By Distribution Channel (Offline (Supermarkets/Hypermarkets, Exclusive Retail Stores, Beauty Parlours/Salon, Multi Branded Retail Stores), Online), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of cosmetics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in China cosmetics market.
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