A report published today (10 May) by the Korea Trade Association has revealed that China’s cosmetics market for male consumers has grown rapidly over the past four years at an average annual rate of 7.7%. Indeed, the market size was predicted to reach 16.7 billion RMB ($2.6 billion) at the end of last year.
Cosmetics are most popular among males aged 18 to 25, i.e. China’s post-95 generation. They account for 59.5% of overall consumption, followed by 26 to 30 years old who make up 21.3% of the market.
In terms of products purchased, 18 to 25 years tend towards lip balm, cleansing strips for the nose and facial cleanser, the 26 to 30-year-old consumer group prefer sunscreen and facial masks, while 31 to 40-year-olds buy eye wrinkle masks and anti-ageing products.
Due to the rapid growth of the beauty market for young men in China, the Korea Trade Association has recommended Korean companies target this consumer group. They suggested that brands launch products focussed on oily skin, large pores, dull complexion, and acne scars.
According to Prospective Industry Research Institute, there are three main reasons behind the growth in the popularity of cosmetics among China’s males:
- Cosmetics for men is widely accepted and recognised by society, unlike in some other countries.
- Men in China think that their appearance can affect their income and career progression.
- Many women have high expectations about their male partner’s style and appearance.