Table of Contents
Overview
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- What you need to know
- Covered in this Report
Executive Summary
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- The market
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- Figure 1: Best- and worst-case forecast of retail value of facial skincare market, China, 2013-23
- Companies and brands
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- Figure 2: Market share of top 10 facial skincare companies, China, 2016 and 2017
- The consumer
- Facial skincare is the top spending priority
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- Figure 3: Changes in spending over the last six months, by category, June 2018
- Opportunities for seasonal skincare
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- Figure 4: Facial skincare usage habit, June 2018
- Morning usage of serum is catching up
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- Figure 5: Facial skincare products used in the last six months, June 2018
- Pores and complexion are consumers’ current focus
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- Figure 6: Skin conditions that drive consumers to change or upgrade facial skincare products, June 2018
- Sunscreen and colour cosmetics are on-the-go beauty essentials
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- Figure 7: Products used when going out in the last six months, June 2018
- Sleep is crucial to skincare
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- Figure 8: Attitude towards beauty and grooming, June 2018
- What we think
Issues and Insights
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- It’s time for more segmented skincare products
- The facts
- The implications
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- Figure 9: SkinCeuticals night serum and day serum, China, 2017
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- Figure 10: Vprove Rhodiola Power Cream, South Korea, 2018
- Skincare is not just about physical appearance but also a part of total wellbeing
- The facts
- The implications
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- Figure 11: W=Hb² Power Duo Face Serum, UK, 2018
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- Figure 12: REMIX Spirit Cleanse Face Wash, US, 2017
- How to expand on-the-go beauty
- The facts
- The implications
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- Figure 13: Examples of haircare swab and sheets, South Korea and US, 2017
- Figure 14: qii oral care tea drinks, Canada, 2018
The Market – What You Need to Know
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- Sustainable growth in value
Market Size and Forecast
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- Seeing a modest pickup in growth
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- Figure 15: Retail value and annual growth of facial skincare market, China, 2014-18 (est)
- Figure 16: Best- and worst-case forecast of retail value of facial skincare market, China, 2013-23
Market Factors
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- Tariff cut continuously benefits domestic sales
- Social media serves as a powerful channel for product information and marketing messages
- Beauty service may become a spending priority
Key Players – What You Need to Know
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- Local companies are gaining market share
- The way aging is discussed is being changed
Market Share
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- Domestic brands are rising
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- Figure 17: Market share of top 10 facial skincare companies, China, 2016 and 2017
- Figure 18: Example of Pechoin x Zhong Hua limited-edition products, China, 2017
- The comeback story
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- Figure 19: Examples of Olay Golden Aura range and Magnemasks Infusion range, China, 2018
Competitive Strategies
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- Overview of strategies by origin country
- Change the conversation on ageism
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- Figure 20: Olay ‘fearless of age’ campaign, China, 2018
- Figure 21: Lancôme Advanced Génifique Youth Activating Concentrate, Global, 2017
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- Figure 22: September cover of Allure magazine, August 2017
- K-beauty brands to expand the influence of multi-brand beauty stores
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- Figure 23: Nature Collection brands, China, 2018
- Introduce the source of natural ingredients
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- Figure 24: Example of Pechoin 30 Degrees North Latitude documentary, China, 2018
- Figure 25: Example of Yoshido x Cai Xukun livestreaming in Finland, China, 2018
Who’s Innovating?
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- Decline in genuine new facial skincare product launches
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- Figure 26: New launches of facial skincare*, by launch type, China, 2016-June 2018
- Figure 27: New launches of facial skincare, by sub-category, China, 2016-June 2018
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- Figure 28: New tinted lip care launches, China, 2018
- Sea ingredients continue to build on momentum
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- Figure 29: New facial skincare launches with ocean ingredients, China, 2017-18
- Probiotic/fermented skincare gets noticed
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- Figure 30: New facial skincare launches featuring probiotics or prebiotics, South Korea and France, 2017
- Figure 31: New facial skincare launches featuring kombucha ingredient, UK and China, 2017-18
- Protect the digital natives
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- Figure 32: New facial skincare launches with blue light protection, South Korea and UK, 2017-18
- Innovative applicators for synergy
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- Figure 33: Examples of skincare products with innovative applicators, South Korea, 2018
- Stick is the new star format
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- Figure 34: New facial skincare launches in stick format, South Korea and US, 2017-18
- Listen and respond to consumers
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- Figure 35: Examples of Glossier’s products, US, 2017
The Consumer – What You Need to Know
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- Facial skincare is still the biggest spending focus
- Two thirds varied facial skincare products depending on the season
- On average five types of facial skincare products used in the evening
- Enlarged pores are worth upgrading facial skincare products
- Suncare products and colour cosmetics are mostly used on-the-go
- Sleeping is a crucial part of skincare
Satisfaction with Appearance
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- Increasingly confident Chinese women
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- Figure 36: Satisfaction with appearance, China, 2016 vs 2018
Changes in Spending
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- When to scrimp, when to splurge
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- Figure 37: Changes in spending over the last six months, by category, June 2018
- The confident continue to invest
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- Figure 38: Changes in spending over the last six months – spent more, by satisfaction with appearance and category, June 2018
- Colour cosmetics: a growing spending focus
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- Figure 39: Changes in spending over the last six months – spent more on select categories, by category, 2017 vs 2018
- Hair: caring it instead of styling it
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- Figure 40: Changes in spending over the last six months – select categories, by category, June 2018
- Different priorities at different ages
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- Figure 41: Changes in spending over the last six months – spent more, by age and category, June 2018
Facial Skincare Usage Habit
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- Not an emotional decision yet
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- Figure 42: Facial skincare usage habit, June 2018
- Young women monitor their skin conditions…
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- Figure 43: Facial skincare usage habit, by age, June 2018
- Figure 44: Example of Bobbi Brown Skin Remedies range, global, 2017
- …while older women vary products used depending on schedule
Daily Facial Skincare Routines
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- Busier evening routine
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- Figure 45: Number of types of facial skincare products used in the morning and in the evening, June 2018
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- Figure 46: Facial skincare products used in the last six months, June 2018
- Morning facial treatments for older women
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- Figure 47: Eye cream/essence used in the last six months, by age, June 2018
Drivers to Change Facial Skincare Products
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- Change for minor skin problems
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- Figure 48: Skin conditions that drive consumers to change or upgrade facial skincare products, June 2018
- Pore issues are young skin’s priority; older women focus on visual markers
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- Figure 49: Skin conditions that drive consumers to change or upgrade facial skincare products, by age, June 2018
- Eye skin problems drive high earners
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- Figure 50: Skin conditions that drive consumers to change or upgrade facial skincare products, by monthly personal income, June 2018
On-the-Go Beauty Routines
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- Sunscreen and colour cosmetics are on-the-go beauty essentials
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- Figure 51: Products used when going out in the last six months, June 2018
- Soothing becomes a more important need for high earners
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- Figure 52: Products used when going out in the last six months – select items, by monthly personal income, June 2018
Attitude towards Beauty and Grooming
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- Sleeping beauty
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- Figure 53: Attitude towards beauty and grooming, June 2018
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- Figure 54: Dermalogica Sound Sleep Cocoon, UK, 2018
- Communicate emotional benefits with 25-39-year-olds
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- Figure 55: Attitude towards beauty and grooming – select statements, by age, June 2018
- Four groups of beauty consumers
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- Figure 56: Consumer segmentation based on their attitude towards beauty and grooming, June 2018
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- Figure 57: Attitude toward beauty and grooming – strongly agree, by consumer segmentation, June 2018
Meet the Mintropolitans
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- Are Mintropolitans more confident with their appearance?
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- Figure 58: Satisfaction about appearance, by consumer classification, June 2018
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- Figure 59: Satisfaction about appearance – very satisfied, by age and consumer classification, June 2018
- Willing to pay for services and not just about face
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- Figure 60: Changes in spending over the last six months – spent more, gaps between MinTs and Non-MinTs, by category, June 2018
- Adopt more but not all on-the-go beauty products
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- Figure 61: Products used when going out in the last six months, by consumer classification, June 2018
Appendix – Market Size and Forecast
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- Figure 62: Retail value of facial skincare market, China, 2013-23
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Appendix – Methodology and Abbreviations
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- Methodology
- Fan chart forecast
- Abbreviations
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