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HKTDC Research
Consumer analysis Social media Cosmetic and toiletries E-commerce/CBEC Market overview
China’s Cosmetics Market
China’s cosmetics sector has been growing rapidly in recent years, in line with the growth of the economy. According to Euromonitor, retail sales of skincare products in China reached RMB260.4 billion in 2020, while sales of make‑up products totalled RMB52.5 billion according to Shenzhen‑based Forward Industry Research Institute. Though the trade through physical stores was affected by the Covid-19 pandemic, online sales of skincare products and make‑up conducted via the Alibaba group of e‑commerce platforms grew respectively 31.8% and 32.5% year‑on‑year. According to the China Cosmetics Industry Research and Development in 2021 released by mainland‑based iiMedia Research, the cosmetics market in China is projected to reach RMB478.1 billion in 2021.
Nov 18, 2021
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