China is one of the countries to target when you want to export your cosmetics. But as everywhere, there are certain facts to know before thinking about leaving for a foreign zone. Business France’s Team France Export has listed all the parameters to keep in mind to conquer the hearts (and bathrooms) of the Chinese.
The Chinese cosmetics market is the second largest in the world, after the United States.
In 2020, it represented 53.11 billion dollars. There are 170,000 specialized stores in the country and nearly three million institutes. “It is estimated that the area has about 800 million consumers of beauty products,” says Business France.
Trends
Because of the Covid-19 crisis, makeup saw its slowest growth in five years (+1%).
On the other hand, perfumes (+10.5%), facial care (+10.3%) and products for pregnant women and young children (+10%) performed well.
The pandemic has also exacerbated the need for “cleaner” formulations that respect the planet.
Finally, social networks and live broadcasts are still very popular. Containment has made these events even more popular. Be careful not to neglect them, as they are decisive in the act of buying.
Market characteristics
In China, there are 5,447 local cosmetics manufacturers. Ninety percent of these companies are SMEs. The positioning of the products is mostly mid-range/low-end, with the top end of the market dominated by foreign competition.
The five players on the Chinese market in 2020 are: L’Oréal, Procter & Gamble, Estée Lauder, Shiseido and LVMH. But beware, because local brands made in 2019 nearly 56% of …
