Retail sales of skin care products China 2018-2028
As the largest component of China’s cosmetics industry, the skin care market recorded a retail sales value of 463 billion yuan in 2023. It was expected to maintain its momentum, reaching a value of approximately 701.1 billion yuan in 2028.
Market overview
China’s skincare retail sales are concentrated in the low-end market, with products priced under 200 yuan accounting for over 60 percent of the total sales value. Creams and moisturizers have long held dominance, while anti-aging has become the most appealing effect of skincare products. Over the past decades, Chinese consumers have become more rational in selecting skincare products: most of them pay great attention to the products’ suitability, quality, and safety and are less brand conscious.
Douyin redefined the landscape of the skincare market
The significance of online retail in the skincare market has progressively heightened, with the number of users in the skincare segment of e-commerce markets continuously growing. In 2023, Douyin emerged as the fastest growing marketplace for skincare products, contrasted with the decline witnessed by comprehensive e-commerce platforms in their skincare sales. The strategic adoption of Douyin by small domestic brands has propelled them to surpass expectations, highlighting a clear competitive advantage, particularly in market access and new product launches.
