As a non-essential necessity, cosmetics are used to improve the quality of life of residents rather than the basis of survival. The development of the cosmetics industry is closely related to the overall state of the national economy.
In 2019, China's cosmetics industry market retail sales reached 299.2 billion yuan
According to data from the National Bureau of Statistics: In 2019, the retail sales (above the limit) of China's cosmetics industry reached 299.2 billion yuan, a year-on-year increase of 12.6%, which clearly surpassed the overall growth rate of retail sales of goods by enterprises above the limit and was better than clothing / jewelry Selection category. From 2001 to 2019, the retail scale (above the limit) of China's cosmetics market will grow at a compound annual rate of 18%.
2019 high-end cosmetics sales scale reached 151.8 billion yuan
In recent years, consumption upgrades have accelerated the growth of high-end cosmetics in China. From the perspective of different grades of cosmetics, mass consumer products account for about 3/4 of the market share in China's cosmetics market, but in recent years, high-end products have grown faster and their proportion has gradually increased. In 2019, the scale of high-end cosmetics sales reached 151.8 billion yuan, accounting for 51% of cosmetics retail sales.
Export of beauty cosmetics and skin care products grows steadily
From 2013 to 2019, the export volume of China's beauty cosmetics and skin care products increased steadily. In 2013, China's export volume of beauty cosmetics and skin care products was 136,600 tons. By 2019, the export volume reached 211,000 tons. The compound growth rate reached 7.4%. As of March 2020, China's exports of beauty cosmetics and skin care products were 31,600 tons.
In terms of amount, the export value of China's beauty cosmetics and skin care products showed an increasing trend from 2013 to 2019. The export value of China's beauty cosmetics and skin care products was US $ 131.58 million in 2013. USD 2774.36 million. As of March 2020, the export value of China's beauty cosmetics and skin care products was 438.47 million US dollars.
Domestic brands in the domestic cosmetics market are expected to gradually replace foreign brands
With the advent of consumption upgrades, consumers have begun to pay more attention to the quality of products, and they are more willing to pay for products with high cost performance. At present, international brands firmly occupy the high-end market, and Chinese local brands want a strong market and need high prices to get consumer recognition. After entering 2016, the term "new domestic products" began to become the direction of Chinese brands chasing. It is not just China's manufacturing industry. In the Chinese cosmetics industry, domestic cosmetic brands have also set off a new national product movement. In the future, Chinese local brands may rely on high-end quality and mid-range prices to seize the market.
In the next 5-10 years, local brands will gradually rise, and local brands in the domestic cosmetics market are expected to gradually replace foreign brands. There are a lot of development opportunities for local brands such as Herborist, Han Shu, Baique, and Peraya.
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