In recent years, the whitening essence track has continued to expand driven by the popularization of the concept of functional skin care. Although the epidemic has brought a short-term slowdown to the industry, with consumption picking up and supply increasing, the medium and long-term development of the industry is still good. In the next three years, it will continue to grow at a compound growth rate of 12.7%.
The prosperity of the facial skin care products industry is improving, and the concept of skin care has advanced to increase the attention of whitening
The growth rate of China’s facial skin care industry has stabilized, and the overall scale will reach 258.7 billion in 2021. From the rising trend of facial skin care penetration rate year by year, it can be seen that the industry’s prosperity is stable and improving, and it also reflects that the demand for facial care is hot in the skin care track. Always remain high. With the upgrading of the concept of skin care in recent years, consumers’ demand for skin care has shown a trend of advanced efficacy. In addition to the basic efficacy of cleansing and moisturizing, the core population has obviously paid more attention to the advanced efficacy. It shows that whitening surpasses other functions and ranks first in the attention of users.
On the demand side: skin characteristics are sensitive, and mildness and high efficiency have become the main whitening appeal
Studies have shown that Chinese skin types are mostly concentrated between types II-IV. This type of skin is characterized by rich melanin bodies and prone to tanning. The demand for whitening and brightening effects is generally greater than that for sunburn repair. At the same time, considering skin health indicators such as water retention, skin barrier and cutin maturity, the skin of Asian people is more sensitive and fragile than that of African and European people. Based on such skin characteristics, mild and highly effective whitening products can better meet the whitening needs of Chinese consumers.
On the demand side: Essence, facial mask and cream have become the main products to meet consumers’ high-efficiency whitening demands
Essence is a high-efficiency facial skin care product rich in active ingredients. Depending on the ingredients it contains, it usually has specific effects such as whitening, moisturizing, and anti-aging. As consumers pay more attention to the ingredients and efficacy support behind skin care products As the degree of improvement has increased, essence products have gradually become the first choice for consumers to achieve specific skin care effects. Focusing on the whitening track, iResearch data shows that more than 70% of Chinese consumers value whitening efficiency most, and the top three preferred products are essence, mask and cream, among which whitening essence accounts for 57.8% of consumers. synonymous with efficiency.
Product end: refined development of whitening products, centering on the core essence and large single products, combined with facial masks and creams to form a matrix of branded whitening products
My country’s whitening products have transitioned from the early stage of extensive development using strong means such as covering and peeling to the stage of scientific and refined collaborative whitening. On the one hand, the refined whitening trend has promoted the development of effective whitening ingredients at the raw material side, and on the other hand, it has promoted the development of powerful products. Essence, as the product with the highest technology and R&D threshold, is generally regarded by the industry as a core item that enhances user stickiness and forms brand barriers. Through the combination of functions and ingredients, a large single product of whitening essence is created, and masks, creams, etc. are developed around it. The strategy of multi-category expansion will be an important strategy for forming differentiated advantages on the product side in the future.
Policy side: Strict regulation raises entry barriers and promotes healthy development of the whitening track
From January 1, 2021, the new “Regulations on the Supervision and Administration of Cosmetics” will be officially implemented, which not only emphasizes the certification standards for whitening skin care products, but also establishes a registration review mechanism for new raw materials with whitening functions. Combined with the “Evaluation Standards for Cosmetics Efficacy Claims” that will be implemented on January 1, 2022, the whitening track has ushered in a comprehensive system tightening from production research to efficacy promotion. Under strict supervision and implementation, the whitening product market is expected to further consolidate the basis of compliance operations and promote the overall high-quality and healthy development of the industry.
Post time: Mar-16-2023