The China makeup market is expected to reach USD 6.81 billion by 2025 owing to the rising demand from the fashion conscious consumers and increasing disposable income. Consumers in China are inclined towards personal appearance with style statement which is expected to drive the makeup market in future. Moreover, the hectic lifestyle of consumer is compelling them to buy on the go beauty products such as stick foundation, long lasting lipstick to meet their perfect appearance needs throughout the day. Advent of numerous innovative products is expected to augment growth of the China cosmetics market over the forecast period.
Innovative product offerings catering to the specific need of the consumers are being launched by the manufacturers. For instance, pure color envy lipstick by Estee Lauder offers smooth finish with hydrating properties. The variants in shape, form and ingredients are available to cater the diverse needs of consumers. Such as lipstick comes in stick, liquid form to fulfill the need of consumer. The consumer behavior is age specific, thus they buy product catering to targeted age group. Thus, the geriatric consumer prefers skin care, anti-ageing and eye makeup products, whereas younger generation prefer smoothening, bright lipsticks, nail makeup products.
The popularity of Chinese fashion brands offering cosmetics product lines witnessed a splurging growth driven by the increasing consumer spending on premium beauty products. Consumers’ increasing demand for designer cosmetics as a must have product is driving the manufacturers to add innovation and variations in their product offerings. Premium cosmetic products such as Chanel’s Le Blush Crème De Chanel, Ford’s Eye Color Quad, Yves Saint Laurent’s (YSL) Touche Éclat Face Highlighter Pen and Christian Dior’s Addict Lipstick, fashion brands’ beauty products are some of the products that are considered to be the must have beauty products among the Chinese consumers.
China makeup market is competitive in nature. The offline distribution channel is expected to be dominant over the forecast period owing to the strong presence of convenience stores. Hence, the price competition is fierce in China haircare market. The rising purchasing power of the economy is attracting retail chains to invest in the market, which is expected to result in the offline distribution channel growth.
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Hexa Research has segmented the China makeup market report based on type and distribution channel:
Segmentation by type, 2015 - 2025 (USD Billion)
Segmentation by distribution channel, 2015 - 2025 (USD Billion)
Key players analyzed:
• Estée Lauder
• Shiseido Co.
• Procter & Gamble
• L'Oréal S.A.