The growth potential of lipstick market in China

According to the high growth of consumer demand, it is expected to achieve an increase of about 5 trillion won. It is speculated that the demand of Chinese consumers for lipstick is increasing, and the consumption is increasing.

According to KOTRA, China's Lipstick market expanded from about 5 billion yuan in 2013 to 13.1 billion yuan in 2018. &The reporter understands that the market growth is driven by the increase of consumer demand in particular. A middle-class female consumer in China buys 4 lipsticks a year, and lipstick also occupies an overwhelming advantage in the questionnaire survey of the most popular cosmetics. &The lipstick market in China will reach 30 billion yuan by 2024.

Therefore, not only the general, but also the pharmaceutical companies have entered the lipstick market one after another. Based on 2018, the sales volume of Chinese pharmaceutical companies is 2.3986 trillion yuan, down 15% year on year, and the total revenue is down 6.6% year on year.

The lipstick market has been chosen as a new growth engine by pharmaceutical companies suffering from deteriorating earnings. The lipstick produced by Huaxi biology company is very popular. Ma Yinglong and Cr Sanjiu have also launched lipstick products. kotra said: "lipstick has low unit price and high consumption, which is easy to attract consumers and also conducive to exports. Therefore, enterprises should, according to the needs of consumers, launch various products such as organic lipstick, expand the market through live broadcast, etc., and make multiple efforts. "