China's lipstick market growth potential attracts attention

It is speculated that the demand for lipstick from Chinese consumers is increasing, and the possibility of growth such as increasing consumption is very high.

According to the Korea Trade and Investment Promotion Corporation (KOTRA), China's lipstick market has expanded from about 5 billion yuan in 2013 to 13.1 billion yuan in 2018.

The reporter learned that, in particular, increased consumer demand has driven market growth.

A Chinese middle-class female consumer buys 4 lipsticks a year, and lipstick also occupies an overwhelming advantage in the questionnaire survey of the most-watched makeup products.

China's lipstick market will reach 30 billion yuan by 2024.

Therefore, not only general cosmetics companies, but also pharmaceutical companies have entered the lipstick market one after another.

Based on 2018, the sales of Chinese pharmaceutical manufacturers were 2.3986 trillion yuan, a year-on-year decrease of 15%, and total revenue also fell by 6.6% year-on-year.

Pharmaceutical manufacturers distressed by worsening earnings have chosen the lipstick market as a new growth driver.

Forbidden City lipsticks introduced by Huaxi Biological Company are very popular, and Ma Yinglong and China Resources Sanjiu also successively launched lipstick products.

A person from KOTRA said: "Lipsticks have a low unit price and high consumption, which is easy to attract consumers and is also conducive to exports. Therefore, companies should launch various products such as organic lipsticks according to the needs of consumers and develop sales through live broadcasts. Work hard. "