China Cosmetics Trends Report 2023 Q1

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By Chaileedo Research  JAN 14, 2023, 12:00 AM

This report is Pro Member (yearly) Free


According to the proportion of new skincare products, the essence category ranks first. Creams ranked second with a 26% proportion. Masks accounted for 12%, ranking third.

In 2022, the cosmetics industry experienced a “magical” year due to the pandemic and various uncertainties. Fortunately, the current hope has arrived. So, where should the cosmetics industry go in the new year?

Recently, CHAILEEDO conducted research on the sales, policies, capital dynamics, filing situations, dynamics of top companies, and marketing cases of the cosmetics market for nearly three months and released the “China Cosmetics Trend Report (Q1 2023)” (hereinafter referred to as the “China Cosmetics Trend Report”), which discusses from three dimensions of national policies, corporate dynamics, and consumer demand, and provides decision-making basis for the development of beauty companies in the new year.

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  • The industry generally says that “times are tough.”
  • The strong become even stronger, the “oligopoly effect” in the industry is particularly obvious.
  • Moisturizing, repairing and anti-aging are the “main” effects.
  • Foreign companies are making unprecedented efforts to increase their presence in China.
  • “Microecological skincare” is becoming a new blue ocean in the beauty field.

Key Stats to learn

  • 2517 billion yuan, a year-on-year decrease.

  • The size of the Chinese cosmetics market is expected to reach 8177 billion yuan in 2026, with a compound annual growth rate of 7.54% from 2022 to 2026.

  • From January to November 2022, the total retail sales of cosmetics were 365.2 billion yuan, a year-on-year decrease of 3.1%. This is the 8th consecutive month of negative growth in the cumulative value for 2022 and the 4th consecutive month of negative growth in the monthly value.

  • In the fourth quarter of 2022, the total retail sales of cosmetics increased on a quarter-on-quarter basis due to the positive promotion of the Double 11 shopping festival, but it still decreased compared to the same period of the last year.

  • Compared with the new products in the third quarter of 2022, the proportion of essence new products in the fourth quarter of 2022 increased from 27% to 35%. The majority of these new products are from domestic brands.

  • In the fourth quarter of 2022, the core effects of new facial skincare products were moisturizing, repairing and anti-aging. Additionally, sub-effects such as oil control and acne treatment showed high growth trend.



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