The future prospects of China's skincare market

Gabrielle Kong, Ting Yuan, Vonnie Wan, Joy Long, Esperanza Wang, Iris Song

The penetration rate of China's skin care market is relatively saturated, but the per capita consumption is only 27.8 US dollars (2020 data), which is lower than that of developed countries such as the United States and Japan. Therefore, the industry has entered the era of stock competition in the year of recovery (2023), which is expected by everyone.
  • China's facial skin care products market industry has gone through a period of high-speed development of high-quality domestic economic development, upgrading of national consumer demand, and the rise of the "beauty economy". However, due to the impact of the epidemic in 2020, the growth rate of the market scale has slowed down. However, full competition in the market has brought about high-end, high unit price, diversified and segmented consumption.
  • Large international groups have layouts in segmented tracks (top luxury, high-end, mid-to-high end, and mass), and the high-end of domestic brands like uface or QuadHA may be a future opportunity....

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