INSIGHTS
The Anti-aging Business in China
BY Ye ChenApr 15, 2021
Anti-aging has recently become female consumers’ top1 demand in the skincare sector and one of the most popular sectors for investors. There are some highlights worth noting in this booming sector: - Big high-end brands still dominate this sector, such as lamer, Lancome, CPB, etc. Consumers do prefer international brands while purchasing anti-aging skincare products. - Beauty devices are becoming more popular as an anti-aging tool. - More consumers are embracing medical beauty because of its stronger efficacy.

Anti-aging is a permanent topic in the skincare market.

In recent years, many data sources prove that the anti-aging sector grows fast and anti-aging has become many consumers’ primary demand. A recent report from Zlon Market Research shows that the global anti-aging market will reach 216 billion dollars in 2021, and the Chinese anti-aging market is growing at a fast pace. The data from Forbes also predict that the Chinese anti-aging market size will expand by 100 billion yuan in the future.1 The 2021 Female Anti-aging Investment Insight Report shows that anti-aging has become female consumers’ top1 demand and also one of the most popular sectors for investors (see below). 2

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Also, young people start to play an important role in this market. The New Youth Anti-aging Survey Report shows that 59.2% of the Chinese population begins to have pressure on aging at the age of 20-30. 3 2021 National Health Insight Report, another report from Dr. Dingxiang (A new media agency focusing on health), shows that among the various signs of aging, “saggy skin” is the one young people worry about most 4. These are reasons why the post-90s and post-85s female consumers have become an indispensable consumer force in the anti-aging market, and they are keen to buy high-end anti-aging skincare products.

In the meantime, consumers are turning to a variety of anti-aging methods to achieve a better result. The Consumption Report for New Consumers shows that post-90s consumers who are afraid of aging have begun to use different combinations of beauty devices, medical beauty, health care products, and sports and fitness. 49.74% choose to buy beauty products, such as eye creams and beauty devices, while 11.25% of respondents choose medical beauty. 5

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Skincare products are still undoubtedly consumers’ top priority when they consider purchasing anti-aging products. There are more than 100,000 posts about anti-aging facial creams on Little Red Book (a female-oriented social media platform in China). And most of these posts are about big high-end brands, such as Lamer, Lancome, HR, CPB, La prairie, etc.. What worth attention is that some niche brands from other countries are also mentioned on social media, such as Kate Somerville from the UK, Epigeneva from Switzerland, Academie from France. Like niche perfumes, niche anti-aging skincare brands are also popular with consumers, who do prefer international brands when buying anti-aging skincare products.

Beauty devices have become another popular choice in recent years. According to the consumption data of CBNData, the penetration rate of household beauty device consumption has increased year by year, and this sector’s consumption growth rate has outpaced the overall anti-aging consumption. 2

Medical beauty is an alternative choice for a small group of people, and its market share is increasing quickly. Consumers who opt for this approach believe that medical beauty treatments are more effective than skincare products and beauty devices. However, medical beauty’s effect can only last for a limited time, so some consumers have made medical beauty projects part of their routine life. Also, among all medical beauty projects, the anti-aging project is the most popular one. The data shows that the demand for anti-aging surged by nearly 60% in 2020 in the medical beauty sector. 6

Ye Chen
ChemLinked Research Analyst
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