Aggressive new product launches along with increasing awareness about professional skin care products will enable the cosmetics market in China to grow significantly in the next two years. Currently, China provides one of the fastest growing and still untapped cosmetics markets in the world. The skin care segment in particular, has been a key growth contributor and helped the overall industry to sustain its growth momentum. A growing number of discerning Chinese consumers are driving a more diversified demand for skin care products. To meet this demand arising from different consumer segments, skin care players are introducing new products with added functions. Besides moisturizers, other products like whitening formulations, toners, and anti-aging skin care have received positive responses from the consumers and shown impressive growth.
Chinese domestic skin care brands：Herborist (佰草集) and Inoherb (相宜本草)
Herborist (佰草集) is owned by Shanghai Jahwa United and was marketed in 1998. It is one of China’s domestic middle-end and high-end skin care companies. It takes advantage of Chinese herbal medicine and incorporates it into its skin care products. Inoherb (相宜本草) is also a Chinese domestic skin care company that uses Chinese herbal medicine technology. It focuses on research, design, production and sales.
International skin care brands: L’Oreal and Shiseido
The L’Oreal Group is the world’s largest cosmetics and beauty company. Its registered office is located in Paris and its head office is located in the Paris suburb of Clichy, Hauts-de-Seine, France. The company is active in the dermatological, tissue engineering and pharmaceutical fields and is the top nanotechnology patent-holder in the United States. Within these industry fields, the company produces hair coloring, skin care, sun protection, make-up, perfume and hair care products. L’Oreal is a listed company, but the founder’s daughter Liliane Bettencourt and the Swiss food company Nestle each control around 30 percent of the shares and voting rights. Brands like Lancome, Biotherm, L’Oreal Paris, Garnier, Maybelline and Vichy are all owned by the company. Shiseido Company, Limited is a major Japanese hair care and cosmetics producer. It is one of the oldest cosmetics company in the world and the fourth largest cosmetics company in the world.
China’s Skin Care Market For Men Crosses $1 Billion
China’s males are becoming wealthier. In the process, they are shifting their attention from the old traditional customs to the new metrosexual style defined by individual expression. The skin-care market for men is already worth $1 billion in China alone. Global grooming skin-care brands for women have taken notice and are launching male grooming products. The best-known of these brands are Procter & Gamble, Olay Men Solutions, L’Oreal, Men Expert, Nivea for Men and Mentholatum. These new products come at premium prices. With a rapidly growing population, all signs point to this trend continuing in China.
Written by Daxue Research China
Picture: L’Oreal China