Market Size of China Cosmetic Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 9.88 Billion |
| Market Size (2029) | USD 15.72 Billion |
| CAGR (2024 - 2029) | 9.71 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Cosmetics Products Market Analysis
The China Cosmetic Products Market size is estimated at USD 9.88 billion in 2024, and is expected to reach USD 15.72 billion by 2029, growing at a CAGR of 9.71% during the forecast period (2024-2029).
Consumers in China are becoming conscious of their external beauty and are making greater use of cosmetics products. They are increasingly incorporating cosmetics products in their daily routine, attributed to the rising concern for beauty and changing lifestyles, fuelling the market demand for cosmetics products.
- Also, the increase in the number of working women has led to an increased demand for premium products owing to growing disposable incomes. Furthermore, consumers in the market are seeking plant-based and natural botanical ingredients-based products that offer multi-functional properties due to growing consumer skepticism about the adverse effects of chemicals and synthetic ingredients on the skin.
- Consumers are also demanding functional cosmetics products that fulfill not only basic moisturizing needs but also offer professional-level skincare. As a result, the players in the market are focussing on expanding their presence in the country to capture the market's potential.
- For instance, in May 2021, Qingdao Baheal Medical Inc. launched China's first commercialization platform for functional cosmetics to facilitate such brands to enter the market through medical standards, consumer experience improvement, and precision marketing programs.
