China make-up market to climb 7.4% through 2026- GlobalData

Through 2026, the market is expected to register a compound annual growth rate (CAGR) of 7.4%, reaching $11.7 billion, according to a new report by GlobalData, a data and analytics company.Previously, the per capita expenditure (PCE) on make-up in China increased from $1.2 in 2016 to $2.8 in 2021, surpassing the regional average of $2.4. Still, it lagged the global average of $3.9.คำพูดจาก สล็อตเว็บตรง

In particular, the eye make-up category is set to register the fastest value CAGR in China over 2021 through 2026, followed by the lip make-up category.“The Covid-19 lockdowns in Shanghai and Beijing undermined demand for color cosmetics in China in the first half of 2022,” explained Bobby Verghese, consumer analyst at GlobalData. “[…] with Omicron infections on the rise, consumers began cocooning longer at home, and donning protective face masks in outdoor areas, thereby sapping demand for color cosmetics. However, consumers made use of eye make-up products such as eyeliners and eye shadows, as their eyes remained exposed above the mask.”Looking at 2021, e-retailers were the leading distribution channel in the Chinese make-up market, followed by department stores, and hypermarkets & supermarkets. Likewise, Maybelline and L’Oreal Paris were recognized as the leading brands in 2021, in the Chinese make-up market, while L’Oreal, Carslan, and The Estee Lauder Companies were the top three companies in value terms. “As all pandemic controls are lifted, the revival of on-site work and education, social gatherings, and celebrations will bolster make-up usageคำพูดจาก สล็อตเว็บตรง. With consumer footfall and impulse purchases accelerating at beauty retailers, China’s PCE on make-up is projected to increase to $4.1 by 2026,” concluded Verghese. “New product launches with natural and safe formulations, improved functionality, and sustainable packaging will attract consumers. Additionally, the adoption of virtual make-up apps and ecommerce portals will surge in the post-pandemic years. Moreover, underpinned by the ‘guachao’ or ‘China Chic’ nationalism trend, Chinese beauty brands are gaining an edge over multinational brands through 2026.”

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