China Business Intelligence Network News: Cosmetics refer to daily chemical industrial products that are rubbed, sprayed or other similar methods and scattered on any part of the human surface (skin, hair, nails, lips, etc.) to achieve the purpose of cleaning, eliminating bad odors, skin care, beauty and modification. Cosmetics can be divided into five categories, mainly including skin care products, personal care products, makeup, perfumes, etc. China is a major consumer of cosmetics and is currently the world's second largest market after United States.
(1) The market size of the cosmetics industry
In recent years, although the growth rate of China's cosmetics market has slowed down, it still maintains a steady growth trend. According to the "2024-2029 China Cosmetics Market Competition Analysis and Investment Advisory Report" released by the China Business Industry Research Institute, the market size of China's cosmetics industry will reach 953.7 billion yuan in 2023, with an average annual compound growth rate of 5.18% from 2019 to 2023. Analysts at the China Business Industry Research Institute predict that the market size of China's cosmetics industry will grow to 1,025.2 billion yuan in 2024.
Data source: China Commercial Industry Research Institute
(2) The market size of the subdivided industry
1. Skincare products
Skincare products refer to products that improve skin integrity, alleviate skin conditions, and address specific skin problems, including acne, dark spots, pigmentation, fine lines, and inflammation. Skincare is the largest segment of the cosmetics industry. According to the "2024-2029 China Skincare Products Market Competition Analysis and Investment Consulting Report" released by the China Business Industry Research Institute, the market size of China's skincare industry in 2023 will be 463 billion yuan, with an average annual compound growth rate of 6.80% in the past five years. Analysts at the China Business Industry Research Institute predict that the market size of China's skincare industry will increase to 500.1 billion yuan in 2024.
Data source: China Commercial Industry Research Institute
2. Personal care
Personal care refers to products that cleanse and repair the skin, body and hair, mainly including bath and shower products, hair care and oral care products. Personal care is the second largest segment of the cosmetics industry. According to the "2024-2029 China Personal Care Market Competition Analysis and Investment Advisory Report" released by the China Business Industry Research Institute, the market size of China's personal care industry in 2023 will be 268.5 billion yuan, with an average annual compound growth rate of 4.83% in the past five years. Analysts at the China Business Industry Research Institute predict that the market size of China's personal care industry will increase to 283.3 billion yuan in 2024.
3. Makeup
Make-up refers to the act of emphasizing or changing the color of the skin, lips, eyes, face, or other parts of the body through makeup in everyday life, with the aim of highlighting personal features, enhancing skin tone, or creating a diverse appearance. Makeup products are mainly divided into face products (such as foundation, concealer, powder, blush, brighter, etc.), eye products (such as eyeliner, eye shadow and mascara), lip products (such as lipstick and lip gloss). According to the "2024-2029 China Cosmetics Industry Market Competition Analysis and Investment Consulting Report" released by the China Business Industry Research Institute, the market size of China's cosmetics industry will increase from 104.5 billion yuan to 116.8 billion yuan from 2019 to 2023, with an average annual compound growth rate of 2.82% during the period. Analysts at the China Business Industry Research Institute predict that the market size of China's cosmetics industry will reach 126.1 billion yuan in 2024.
4. Perfume
Perfume refers to an aromatic liquid, usually made from essential oils extracted from flowers and spices, and is used to provide a pleasant scent to hair, body, or clothing. The main ingredients of perfume are alcohol, fragrance and a small amount of water. At present, international luxury brands such as Chanel, Dior, Hermès, etc. still dominate the high-end perfume market. From a domestic point of view, China's perfume industry is currently in a stage of rapid development. The improvement of national consumption level, the broadening of consumption scenarios and the rise of "other economy" are all important factors driving the growth of China's perfume market. According to the "2024-2029 China Perfume Industry In-depth Analysis and Development Prospect Forecast Report" released by the China Business Industry Research Institute, the market size of China's perfume industry will reach 22.9 billion yuan in 2023, with an average annual compound growth rate of 12.69% in the past five years. Analysts at the China Business Industry Research Institute predict that the market size of China's perfume industry will grow to 26.5 billion yuan in 2024.
Data source: Frost & Sullivan, China Business Industry Research Institute
For more information, please refer to the "Research Report on Market Prospects and Investment Opportunities of China's Cosmetics Industry" released by the China Commercial Industry Research Institute, and the China Commercial Industry Research Institute also provides industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, feasibility study reports, industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meeting, "15th Five-Year Plan" and other consulting services.