Chinese consumers love for the facial mask shows no signs of slowing, with new research predicting that the market will grow 15.8 percent in value each year over the next five years to reaching RMB 31,746 million (Au$6138 million) by 2021.
According to global market intelligence agency Mintel, the facial mask market in China grew at an impressive CAGR (compound annual growth rate) of 29 percent between 2011 and 2016.
In 2016, the market saw a steady increase of 26 percent in growth, hitting a sales value of RMB 15,218 million (Au$2941 million). In comparison, the overall growth rate of China’s beauty and personal care market stood at 8 percent in 2016, making the facial mask category one of the most dynamic in the country’s beauty and personal care market.
Mintel’s senior innovation and insights analyst of Beauty and Personal Care, Sharon Kwek, said that in recent years facial masks have successfully penetrated women’s skincare regimes in most parts of Asia including China, South Korea, Japan and Taiwan.
“The growing usage of facial masks in wider Asia is largely because of the beauty item’s ability to offer consumers different skin care benefits in a convenient manner and short turnaround time,” she said.
“Today, the usage of facial masks in China is commonplace, and the so-loved item will continue to be coveted among Chinese women.”
However, Mintel’s beauty and personal care associate director Jessica Jin stressed that Chinese consumers show no strong brand loyalty in the facial masks category.
“Our research shows that there is similar interest among female facial mask consumers to try out premium masks and new brands,” she said.
“Consumers’ growing demand for innovative products will require dynamic and vivid response from facial mask brands.”
Indeed, females in China today are increasingly accepting of the idea of premium facial masks, as Mintel research reveals just over half (54 percent) of female facial mask users surveyed in urban China have purchased a facial mask priced RMB 30 or above (per sheet) in the six months to January 2017.