This report looks at the following areas:
- Factors influencing the development trends of beauty ingredients
- Marketing activities related to beauty ingredients and ingredient trends in new beauty launches
- Ingredient information that consumers focus on and how those priorities evolve over time
- Ingredient upgrade directions that attract purchases
- Ingredient associations by ingredient type
- Benefit associations of TCM ingredients
- Motivations for minding ingredients
Product formulations are at the forefront of the competitive landscape, with TCM ingredients and bio-synthetic ingredients standing out as particularly noteworthy for brands, deserving of their close attention and investment.
Tina He, Analyst, China Insights
Market Definitions
This report focuses on ingredient trends and consumer perceptions of the ingredients in beauty and personal care products. This report examines the following categories of beauty and personal care products:
- Haircare products
- Skincare (face and body)
- Colour cosmetics
- Nail colour and care
- Fragrances
- Soap, bath and shower products
- Shaving and hair removal products
- Antiperspirant and deodorant
- Oral care
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Executive summary
- Key issues covered in this Report
- Definitions
- What you need to know
- The market
- Market factors: ingredient information influences purchase decisions, with bio-synthetic and TCM ingredients being highly popular
- Companies and brands
- Trends in marketing activities: differentiation through patented/specialised ingredients and exclusive formulations
- New product trends: the popularity of functional ingredients continues unabated, aligning with consumers’ pursuit of highly effective skincare products
- Graph 1: functional skincare ingredients with the highest growth rate, 2019-2023
- Product examples: bio-synthetic ingredients highlight their highly active properties and enhanced safety features as selling points. Their effective mechanism at the cellular level has become the focus of ingredient upgrades
- The consumer
- Consumers are increasingly attentive to formulations, patented ingredients and the extraction methods used
- Graph 2: ingredient information minded, 2023 vs 2024
- Plant- and TCM-derived ingredients attract the most purchase interest, while bio-synthetic ingredients are the trendiest
- Graph 3: ingredient associations by ingredient type, 2024
- Using simplified formulas is the most compelling approach for ingredient upgrades
- Graph 4: ingredient upgrade direction that attracts purchase, 2024
- Ginseng, Ganoderma lucidum and Cordyceps sinensis are closely associated with anti-ageing benefits
- Graph 5: benefit associations of TCM, 2024
- The primary objective of understanding ingredients is to determine a product’s safety and suitability for one’s skin type
- Graph 6: motivations for minding ingredients, 2024
- Domestically sourced ingredients continue to attract local consumers
- Issues and insights
- What we think
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The market
- Market factors
- Ingredients are an important purchase factor for beauty and personal care products, second only to benefits
- Graph 7: purchase factors of BPC products, October 2023
- Consumers pay more attention to formulations, decomposition and extraction methods and patents
- Bio-synthetic and TCM ingredients are gaining attention, while upgrading classic ingredients could be a promising direction for product iterations
- Starting in 2025, a complete cosmetic safety assessment report and upgraded testing requirements for ingredients and formulations will be enforced
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Companies and brands
- Marketing activities
- ‘Star products’ create competitive moats through the use of patented/specialised ingredients
- Demonstrate exclusive formulation strategies to consumers to enhance the credibility of functional claims
- Discussions on ‘Chinese ingredients’ can help broaden the scope of ingredient application in this area
- Seize the opportunity to establish authority in emerging ingredients, thereby gaining a competitive advantage
- New product trends
- Ingredients that can act as preservatives are replacing traditional preservatives, thereby enhancing the product’s safety image
- Graph 8: mainstream preservatives/ingredients act as preservatives in skincare, 2019-2023
- The popularity of functional ingredients remains unabated, aligning with consumers’ pursuit of high-efficacy skincare products
- Graph 9: functional skincare ingredients with the highest growth rate, 2019-2023
- When purchasing anti-ageing and lightening products, consumers recognise the value of specific ingredients
- Bio-synthetic ingredients have emerged as a selling point due to their highly active properties and safety profile
- The mechanism that works at the cellular level has become the focus of ingredient upgrading
- Penetration at the small molecule and supramolecular levels can enhance ingredient utilisation
- Products with simplified formulations emerge on the market, emphasising product safety
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The consumer
- Ingredient Information Minded
- Consumers pay more attention to formulations, patented ingredients and the methods used for ingredient decomposition and extraction
- Graph 10: ingredient information minded, 2023 vs 2024
- Consumers aged 30-39 pay attention to comprehensive information about ingredients
- Graph 11: ingredient information minded, by age, 2024
- Consumers in tier 1 cities focus on patented ingredients, while those in tiers 2 and 3 prioritise main ingredients and cautionary ones
- Graph 12: ingredient information minded, by city tier, 2024
- Consumers with sensitive skin take a more comprehensive approach when examining ingredients
- Graph 13: ingredient information minded, by skin sensitivity, 2024
- Ingredient dosage is an important indicator of effectiveness and safety, while origin sparks word-of-mouth discussion
- Graph 14: ingredient information minded, by motivations for minding ingredients, 2024
- Consumers who prefer upgraded classic ingredients pay more attention to the dosage of ingredients and formulations
- Graph 15: ingredient information minded, by attitudes towards classic/new beauty product ingredients, 2024
- Ingredient associations by ingredient type
- Ingredients extracted from plants and TCM are the most well-rounded…
- Graph 16: ingredient associations by ingredient type, 2024
- …bio-synthetic ingredients are the trendiest
- Consumers aged 30-39 and those with high incomes recognise the effectiveness of TCM ingredients…
- Graph 17: ingredient associations by ingredient type – effective, by monthly personal income, 2024
- Graph 18: ingredient associations by ingredient type – effective, by age, 2024
- …and are willing to pay for them
- Graph 19: ingredient associations by ingredient type – attractive to me to purchase, by age, 2024
- Graph 20: ingredient associations by ingredient type – attractive to me to purchase, by monthly personal income, 2024
- Consumers with sensitive skin have a greater appreciation for the safety of plant-derived ingredients
- Graph 21: ingredient associations by ingredient type – safe, by skin sensitivity, 2024
- Consumers aged 25-29 exhibit a higher appreciation for the eco-friendly aspects of bio-synthetic and medical-grade ingredients
- Graph 22: ingredient associations by ingredient type – eco-friendly, by age, 2024
- Ingredient upgrade directions that attract purchases
- Simplified formulas are the most compelling way to upgrade ingredients
- Graph 23: ingredient upgrade direction that attracts purchase, 2024
- Consumers aged 25-39 are particularly interested in simplified formulations
- Graph 24: ingredient upgrade direction that attracts purchase, by age, 2024
- Consumers with sensitive skin prefer simplified formulations and the incorporation of new technologies
- Graph 25: ingredient upgrade direction that attracts purchase, by skin sensitivity, 2024
- Benefit associations of TCM ingredients
- Ginseng and Ganoderma lucidum have the broadest association with benefits…
- Graph 26: benefit associations of TCM, 2024
- …Cordyceps sinensis is closely associated with anti-ageing and repairing benefits, while peony is known for its hydrating and moisturising properties
- Consumers aged 30-39 connect specific benefits with ginseng, Ganoderma lucidum and saffron
- Graph 27: benefit associations of TCM – soothing/repairing, by age, 2024
- Graph 28: benefit associations of TCM – anti-ageing, by age, 2024
- Consumers aged 30-39 also show greater recognition of peony’s hydrating/moisturising benefits
- Graph 29: benefit associations of TCM – lightening/brightening, by age, 2024
- Graph 30: benefit associations of TCM – hydrating/moisturising , by age, 2024
- Consumers suffering from fine wrinkles and a dull complexion have higher expectations for the anti-ageing benefits of ginseng and Ganoderma lucidum
- Graph 31: benefit associations of TCM – anti-ageing, by skin issues, 2024
- Consumers experiencing pigment issues seek to manage their skin tone by using Ganoderma lucidum and Cordyceps sinensis
- Graph 32: benefit associations of TCM – oil control/anti-acne, by skin issues, 2024
- Graph 33: benefit associations of TCM – lightening/brightening, by skin issues, 2024
- Consumers with sensitive skin are interested in the soothing effects of Ganoderma lucidum, Cordyceps sinensis and tea leaves
- Graph 34: benefit associations of TCM – soothing/repairing, by skin sensitivity, 2024
- Consumers who consider TCM ingredients suitable for high-end brands favour Tricholoma matsutake
- Graph 35: benefit associations of Tricholoma matsutake, by attitude towards TCM beauty ingredients, 2024
- Motivations for minding ingredients
- Ensuring product safety and suitability for skin are the main factors that drive consumers to learn about ingredients
- Graph 36: motivations for minding ingredients, 2024
- In addition to safety and effectiveness, higher income groups also prioritise the sustainability of ingredients
- Graph 37: motivations for minding ingredients, by monthly personal income, 2024
- Using their skin issues as a starting point, consumers with sensitive skin seek information about ingredients and are eager to learn
- Graph 38: motivations for minding ingredients, by skin sensitivity, 2024
- Attitudes towards ingredients
- Domestically sourced ingredients continue to attract consumers
- However, consumer interest in marine-derived ingredients has declined…
- Graph 39: mentions and engagement of ‘ocean-related ingredients’ (海洋成分*) on social media**, 2023-2024
- …the waning interest is particularly pronounced among consumers aged 18-39, those with lower incomes and those in tier 3 cities
- Graph 40: agree that ‘ocean-related ingredients are more attractive to me’, by demographics, 2023 vs 2024
- Consumers who prefer domestically sourced ingredients also tend to favour plant-derived ingredients
- Graph 41: attitude towards marine- and plant-derived ingredients, by attitude towards domestically sourced and foreign ingredients, 2023
- Upgrading classic ingredients remains an attractive option
- Graph 42: attitude towards classic/new beauty ingredients, by skin sensitivity, 2024
- Consumers believe that TCM ingredients can better represent ‘Chinese ingredients’ and align with the image of prestigious brands
- TCM ingredients are compatible with various brand positioning strategies and are recognised by consumers across income groups
- Graph 43: attitude towards TCM beauty ingredients, by monthly personal income, 2024
- Consumers perceive bio-synthetic ingredients as more expensive
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Issues and insights
- Consumers’ knowledge of ingredients has become more sophisticated, with a growing focus on formulations
- The appeal of individual popular ingredients is declining, shifting the focus of competition towards formulations
- Breaking down the layers of skin ageing issues and combining hero anti-ageing ingredients to achieve exceptional results
- Delivers a unique lightening effect by utilising different ingredients to target various stages of melanin production
- The future of TCM ingredients: craft stories based on their origins and enhance their benefits with technology
- Crafting stories based on the origins of TCM ingredients can effectively attract local consumers
- Patented technologies and formulations can enhance the functional profile of TCM ingredients
- Derivatives of classic ingredients can enhance product iterations
- By utilising derivatives of classic ingredients, brands can enhance product performance and maintain the interest of existing consumers
- Ingredient dosage and formulations are key areas of focus for consumers
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Appendix – methodology and abbreviations
- Methodology
- Abbreviations
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