The Chinese cosmetics market is expected to register a CAGR of 13.76% during the forecast period (2021 – 2026). The beauty industry (comprising skin care, color cosmetics, hair care, perfumes and personal care) has been shocked by the COVID-19 crisis.
New York, November 04, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Cosmetics Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” – https: // www.reportlinker .com / p06179095 /? utm_source = GNW
First quarter sales were weak and store closings were widespread. The industry responded positively to the crisis, with brands shifting their manufacturing to produce hand sanitizers and cleaning agents and offering free beauty services to frontline response workers.
Cosmetic products have become an essential part of the daily life of Chinese consumers. These cosmetic products are labeled and manufactured taking into account regulations specified by government agencies, to ensure product safety.
Consumer demand for improved functionality and environmental friendliness in the design of cosmetics is resulting in exciting innovations in the packaging and design of cosmetic products. Packaging manufacturers offer a wide variety of innovative choices and creative technologies to serve the market. Various large companies are showing innovative changes in packaging and design.
For example, Procter & Gamble recently announced a major shift to plant-based packaging for some of its leading global cosmetic brands and uses plastic derived from Braskem’s sugar cane in Brazil. In addition, L’Oréal recently contributed to reducing the environmental impact of its packaging by introducing two new assessment tools, namely Sustainable Packaging Scorecard (SPS) and Packaging Impact Quick Evaluation Tool (PIQET), in its design process. of packaging.
Key market trends
Styling and coloring products? Hold a significant market share
In China, more and more women are joining the workforce, thus stimulating the instinct to look good in the workplace. Interestingly, the cosmetics industry has seen an increase in demand among men as well, due to factors such as awareness, the importance of grooming, and the presence of more women in the workplace. . In the cosmetics category, the hair is considered the main element that establishes the individual style and spells out a fashion statement. Thus, the industry has witnessed the increasing demand for styling products and hair dyes. Products based on natural ingredients, especially fruit and herbal products, are in great demand. For example, L’Oréal launched Garnier Olia Coloration Permanente with 60% natural flower oils in an anti-drip cream.
Supermarkets and hypermarkets remain the largest distribution channel
The supermarket / hypermarket segment of the market studied holds the largest share, indicating a consumer preference for this segment. Due to strong consumer demand, large supermarkets are expanding the range of cosmetic products, representing diversity in products. The growth seen in the supermarket segment has been driven by the appeal it creates among baby boomers looking for a safe exploration of various cosmetic products formulated with innovative technology and packaging. The trend of bulk buying is increasing due to increased income and busy lifestyle of consumers. Selling the products in supermarkets signifies the seller’s transaction building strategy as it leads to an increase in impulse buying by consumers.
The Chinese cosmetics market is heavily dominated by foreign players. The main key players are L’Oréal Group, Avon Products Inc., Estée Lauder Companies Inc., Shiseido Co. Ltd, Dior, Yves Rocher International and Oriflame Holding AG, among others. Product innovation remains the strategy most adopted by folders in the country. The advanced and diverse distribution networks of global players give them an additional advantage to expand their product line across the country.
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