Development of China's Cosmetics Market and Consumer Demand Analysis
2024-12-30
Currently, China has become the world's second-largest cosmetics consumer market, showing strong market demand and tremendous potential.
Data from the National Bureau of Statistics shows that in 2023, the total retail sales of cosmetics in China reached 414.2 billion yuan, a year-on-year increase of 5.1%, with the skincare market exceeding 200 billion yuan, accounting for more than 50% of sales.
With the rapid development of the skincare market, consumer habits and behavioral trends have also undergone significant changes.
Driven by factors such as the continuous increase in disposable income and the upgrading of national consumption, Chinese consumers have a strong demand for skincare products and seek products that can simultaneously meet their physical and mental health as well as aesthetic needs.
Research data on skincare demands show that 75.27% of surveyed consumers have skincare demands for soothing and stabilizing, and the proportion of people with demands for anti-oxidation and anti-aging, whitening and brightening, and oil control and acne removal all reach over 60%.
Leading brands in the industry, represented by HBN, focus on enhancing the scientific and safety "value" of their products, continuously increasing investment in research and development, and winning the broad favor of market consumers.
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