China cosmetics factory   Laeyo   2025-02-17   23

Based on the most recent data, China's cosmetics industry is substantial and growing rapidly. Here are the key points about the size and scope of this market: Market Size and Growth - In 2022, the personal care and beauty market in China reached a scale of 531.8 billion yuan. Despite the impact of the global pandemic, the market has continued to grow at a brisk pace. - The market is expected to expand significantly in the coming years. By 2027, it is projected that the personal care and beauty market in China will reach 728.8 billion yuan. Global Position -...

Based on the most recent data, China’s cosmetics industry is substantial and growing rapidly. Here are the key points about the size and scope of this market:

Market Size and Growth
– In 2022, the personal care and beauty market in China reached a scale of 531.8 billion yuan. Despite the impact of the global pandemic, the market has continued to grow at a brisk pace.
– The market is expected to expand significantly in the coming years. By 2027, it is projected that the personal care and beauty market in China will reach 728.8 billion yuan.

Global Position
– As of 2021, China was the second-largest consumer of cosmetics globally, holding a market share of 17.3%. The United States remained the largest market with a 19.99% share. Other significant markets include Japan, Brazil, Germany, the United Kingdom, and France.
– The global cosmetics market has seen steady growth from 2020 to 2022. In 2020, the market size was 484.03 billion USD, which dipped by 3.8% due to the pandemic. However, it rebounded in 2021 to 524.91 billion USD, an 8.4% increase, and continued to grow in 2022, reaching 565.2 billion USD.

Product Segmentation
– The cosmetics market in China includes various product segments such as skincare, haircare, oral care, makeup, and baby care products. In 2022, the market shares for these segments were as follows:
– Skincare: 51.95%
– Haircare: 11.95%
– Oral Care: 9.07%
– Makeup: 10.44%
– Baby Care: 5.81%
– Future growth predictions for 2023 indicate increases across several categories, with makeup expected to grow by 10.30%, oral care by 7.54%, and perfumes by 24.39%.

Regional Focus: Guangdong Province
– Guangdong province is a critical hub for the cosmetics industry in China. The province boasts around 3300 licensed cosmetics manufacturing enterprises, accounting for 56% of the national total. This region has developed a comprehensive industrial chain that includes upstream raw materials and packaging, midstream research and development, and downstream branding and marketing.
– Guangzhou, the capital city of Guangdong, is particularly notable. Known as “China’s Cosmetics City,” it houses the largest concentration of cosmetics manufacturers in the country. As of November 2024, the city had 1841 cosmetics production enterprises, contributing to over 100 billion yuan in annual output value.
– Guangzhou also features extensive specialized markets like Xingfa Plaza and Yifa Plaza, which serve as major distribution centers for cosmetics, facilitating the nationwide circulation of nearly 400,000 types of cosmetics annually.

Consumer Spending
– Despite the large market size, the per capita expenditure on cosmetics in China is relatively low compared to developed markets. By the end of 2022, the average spending per person was only 55.9 USD. This figure is lower than in countries like the United States, Japan, and South Korea, indicating significant room for growth in consumer spending on cosmetics in China.

Industry Dynamics
– The cost structure of cosmetics products reveals that a significant portion of the retail price is allocated to various expenses beyond the cost of the product itself. For instance, a product sold for 1000 yuan typically incurs the following costs:
– Marketing: 40%
– Research and Development: 3%
– Management: 6%
– Loan Interest and Taxes: 9%
– Profit: 17%
– Production: 5%
– Storage and Logistics: 5%
– Packaging and Labeling: 13%
– Actual product content: 2%

Future Prospects
– The Chinese cosmetics market is poised for continued growth, driven by increasing consumer demand, expanding middle-class income, and a growing focus on personal appearance and grooming.
– The industry is also supported by robust manufacturing capabilities and a well-developed supply chain, particularly in regions like Guangdong. This local production strength aids in meeting both domestic and international demand, with exports showing a significant increase.

In conclusion, China’s cosmetics industry is vast and dynamic, with significant growth potential. The market is characterized by a diverse range of products, strong regional manufacturing hubs, and increasing consumer expenditure. As the market continues to expand, it is likely to play an even more prominent role in the global cosmetics landscape.

Keywords：China cosmetic industry Guangdong