Current Landscape and Emerging Trends in the Cosmetics Industry
Release time:
2023-06-21 17:01
Source:
From the market prospect, industry development stage, product trend and growth strategy to share the cosmetics industry.
1, market outlook-the fourth quarter of 2. is good.
The cosmetics market still has huge room for development. Although the growth rate of the industry has slowed down, its development space is still broad in the long run. The per capita consumption of cosmetics in Japan and South Korea in 2020 is 103 and 165 US dollars, while the per capita annual consumption of cosmetics in China is 45 US dollars, which is significantly lower than that of Japan and South Korea. Combined with the sinking market beauty awareness awakening and beauty consumption habits, as well as consumer demand continues to upgrade to drive the volume of the industry development law, China's beauty market still has a large penetration space. However, with the increase of the base and the reduction of the flow dividend, the industry will inevitably enter the stage of low growth. In terms of industry growth in 2022 alone, the first quarter, along with the continuation of the epidemic in many parts of the country, beauty consumption entered a period of weakness, superimposed on last year's high base, weak growth. And with the improvement of the epidemic, the recovery of consumer confidence, as well as the fourth quarter of 2. business promotion period, the release of consumer power, the industry is expected to gradually improve.
2, industry development stage-product polishing is an iron rice bowl.
Industry from the channel for the king into the product for the king of the stage. In the past, the growth of beauty brands was highly dependent on offline channels, and the traffic dividends brought about by online and offline channel switching. However, with the increasing maturity of consumers, and the intensification of market competition under the flow costs continue to rise, enterprises must return to the essence, pay attention to product polishing, China's beauty industry will gradually enter the product-driven stage.
3, product trends-plus code deep research and development is the key.
In the domestic beauty market competition intensified, and demand refinement, upgrading of the general trend, brand plus code deep-level research and development innovation on the agenda. From the past "big-name flat for", category dividends, product design innovation to further explore consumer demand, promote formula innovation, raw material innovation, process innovation and other basic levels of innovation and product differentiation. From the product layout, local beauty companies continue to attack high-end brands. For a long time, the high-end market has been the main battlefield of international brands, and the layout of local brands is limited. However, this year will be an important turning point for domestic beauty enterprises to attack the high-end market and supplement the vacancy of brand matrix. In 2021, after the completion of the 0.4 billion yuan B round of financing, the founder of colorkey's parent company, Meishang, said that he would further lay out the high-end beauty market and planned to push its brand share to the top three in 2022. Betini also repeatedly talked about the high-end market last year and plans to launch a high-end anti-aging brand this year with a price band of around 1000 yuan. Shanghai Jiahua also launched the skin care brand "herborist Taiji" at the end of last year, betting on the impact on the high-end beauty market this year. In addition, Marumei, Pereya, Lin Qingxuan, Huaxi Bio, etc. have released new products, focusing on high-end track, and European and American brands to compete. And domestic beauty brands in the high-end market collective investment formed by the scale of sound volume, market education efforts, is also expected to promote the accelerated growth of the industry.
4. Growth strategy
Consolidate product differentiation cognition
Under the background of the rise of domestic products and the homogenization of products, marketing differentiation has become the key to brand breakthrough-to avoid the traditional selling points of entering the aesthetic fatigue period, to deeply cultivate the demand of generation z, to track and apply the hot spots, to emphasize the research and development ability and star components, to tailor the more subdivided purchase scenes, to reshape the minds of consumers, and to compete with international brands in dislocation.
Focus on the promotion of brand power
Social media marketing is gradually entering the Red Sea market, traffic costs are increasing, ROI 1 has become the norm for more brands. Therefore, brand marketing methods are facing transformation, while embracing the new marketing methods, but also based on the purpose of achieving brand differentiation of consumer awareness, from focusing on conversion rate to product delivery balance, and cultivate the full link operation ability, to obtain the long-term comprehensive effect of brand power enhancement.
Remodeling Channel Value
On the basis of focusing on brand power, beauty companies need to re-examine the value of the channel. Online traffic continues to divide, offline new beauty collection stores, medical beauty channels and other emerging waves, mobilize marketing resources to deeply cultivate all kinds of purchase scenarios, in the public domain channels will be the existing brand power to spread and enlarge, in the private domain channels to sit on the enterprise reputation and brand power, establish user stickiness, and finally achieve sales growth.
Multi-brand, multi-category layout
In 2022, the development of multi-brand and multi-category will still be the core issue of beauty enterprises. In the past two years, the beauty group listing process accelerated, investment institutions to support new brands, for their own incubation and mergers and acquisitions to provide capital, beauty enterprises multi-brand, multi-category pace accelerated. With the improvement of the product and brand matrix, the synergy effect of enterprises in product development, channel bargaining and marketing resources will also be obvious, thus opening up the space for medium-and long-term development imagination.
The benign development of the industry under the tightening of supervision
The overall supervision of the cosmetics industry has become stricter, and the threshold has been continuously raised in terms of product safety and marketing compliance. This has increased the capital cost of corporate product testing, and the new time cost of products, but also to a certain extent. It is beneficial to the elimination of chaos in the industry, to obtain a more friendly development environment for enterprises, and to help the healthy growth of brands.
Open new growth at sea
National goods beauty makeup out to sea is speeding up. Hua Xizi, Perfect Diary, Zhiyouquan, Mao Geping, etc., either rely on the platform and channel resources to achieve brand output, or through the acquisition of local brands to achieve overseas market layout. With the rapid development of the global e-commerce industry, with mature online operating experience and product strength of the national brand, is expected to make a breakthrough in overseas markets.
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Data show that in 2024, the cosmetic packaging market will reach 223.5 billion yuan. Among them, plastic is still the big head, and the use of paper and wood is on the rise. Recently, the world's leading market research company transparency market research (TransparencyMarketResearch) announced the cosmetic packaging market data. Data show that by 2024, the global cosmetic packaging industry is expected to reach 33 billion US dollars (about 223.5 billion yuan). It is understood that the global cosmetics packaging industry in 2015 the overall valuation of $23 billion (about 115.6 billion yuan). The research shows that the industry's compound annual growth rate will stabilize at 4.4 percent from 2014 to 2024. Among them, there are more and more beauty consumers in emerging markets such as the Asia-Pacific region, the Middle East and Latin America, which are considered to be the main driving force for the growth of the packaging industry. A domestic brand engineer told the reporter of "Cosmetics Finance Online" that according to his understanding, the Asia-Pacific region is the main source of income in the cosmetics packaging market. In 2016, the region accounted for 32.5 percent of the global cosmetic packaging market and is expected to maintain this growth rate in the coming years. Transparency market research said that as more and more young people gradually urbanize, more disposable income is also one of the driving forces of growth. The analysis pointed out: "Packaging innovation may have a greater impact on young people, and these people happen to be the main target group of most cosmetics companies." In addition, research shows that plastics are still expected to be the choice in cosmetic packaging in the future; however, due to the increasing application of glass in high-end products, it will also occupy an "important share"; environmental protection is a hot topic in recent years, and the use of paper and wood in packaging will also be on the rise. The use of wood will also be on the rise.
Key Considerations When Selecting Cosmetie PackagingManulacturers
In daily life, we often talk about choosing the right cosmetics, but we seldom pay attention to the choice of cosmetic packaging materials. For cosmetics suppliers or manufacturers, this is a big problem.
Choose cosmetic packaging material factory to pay attention to some matters
Cosmetic packaging materials are divided into two types, including inner packaging materials and outer packaging materials. The inner packaging materials are glass bottles, plastic bottles and hoses. Common ones are: lip gloss tubes, lipstick tubes, eye shadow plates, powder boxes, loose powder tubes, eyeliner pens, eyebrow pens, etc., which are directly used to carry cosmetic pigments. The packaging material is the first thing you see, and it plays a certain role in the choice of customers. Therefore, it is very important to choose a cosmetics factory. Today we will talk to you about some matters that should be paid attention to when choosing a cosmetics packaging material factory.
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Current Landscape and Emerging Trends in the Cosmetics Industry
The cosmetics market still has huge room for development. Although the growth rate of the industry has slowed down, its development space is still broad in the long run. The per capita consumption of cosmetics in Japan and South Korea in 2020 is 103 and 165 US dollars, while the per capita annual consumption of cosmetics in China is 45 US dollars, which is significantly lower than that of Japan and South Korea. Combined with the awakening of beauty awareness in the sinking market and the formation of beauty consumption habits
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