Unlocking the Potential of Customized Cosmetics In China
The cosmetics industry is witnessing a surge in customized cosmetics demand. This report delves into the current market size, data analysis, case studies, and future trends in this field. As consumers lean towards personalized beauty solutions, understanding this trend is vital for industry professionals.
Customized cosmetics cater to individual consumers based on skin analysis and specific preferences. It involves collecting data on age, lifestyle, and skin condition to formulate tailored beauty products.
Two models exist:
- Modular Cosmetics: Mixing different cosmetic modules (e.g., serums) offers customized results within a broad framework.
- Unique & Exclusive Cosmetics: These create entirely unique formulations for individual diversity, albeit on a narrower scale.
Recent Surge in Popularity
- WeChat data shows a rapid increase in customized cosmetics popularity, with a recent index of 56,980.
- Research institutions predict that customized cosmetics will revolutionize traditional customer targeting standards.
Market to Exceed CNY 500 Billion by 2028
Customized cosmetics contributed 22% to skincare consumption in 2014. Global personalized beauty markets grew from USD 29.25 billion (CNY 212 billion) in 2021 to USD 37.72 billion (CNY 273.4 billion) in 2022, with an 11.87% CAGR. Projections indicate it’ll exceed CNY 500 billion by 2028.
Shift from “One for All” to “All for One”
- Consumers now demand finely-tailored, personalized skincare solutions, driving the shift from “one for all” to “all for one.”
- Overseas customized cosmetics are gaining traction on platforms like Little Red Book, while domestic brands focus on hair and body care due to cost considerations.
Challenges Ahead for Customized Cosmetics in China
Regulatory hurdles and high costs hinder the viability of “one product, one person” customization in China.
Dependence on New Technologies like AI for Skin Analysis
AI and new technologies are essential for efficient and accessible customization.
Innovative approaches, like Neutrogena’s personalized nutrition gummies, offer a glimpse into the future of customized cosmetics in China.Customized cosmetics hold promise in the beauty industry. Navigating regulatory challenges and harnessing technology are key to success. The future of customized cosmetics in China is bright, with technology and innovation leading the way.