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From China Beauty Expo, What changes will happen to the international cosmetic accessories market in 2023 ?

May 29, 2019

What changes will happen to the international cosmetic accessories market in 2023 from China Beauty Expo?

 

China beauty expo (Shanghai CBE), one of the world's three major exhibitions, has gained an unparalleled advantage in daily chemical products. On May 20, 2019-22, 24 TH China beauty expo (CBE) in Shanghai will be in Shanghai new international expo center set sail once again, as one of the three largest theme exhibition the exhibition of Chinese cosmetics exhibition, deeply rooted, daily chemical industry exhibits covering nine pavilions, covering 16 big category, sharing global innovation resources, collection of Chinese cosmetic elite squad to the three days, to show the world China's cosmetics to thrive.

 

The exhibition site brings together the perfume, skin care, cosmetics, cosmetics appliances, men's care, pregnancy, and child care, personal care, oral care, washing, and other products distributed through retail;It covers 8 cosmetics sales channels in China, including wholesale, agency, shopping malls, supermarkets, specialty stores, cosmetics chain institutions, pharmacies, and baby stores. Exhibitors can communicate with buyers directly and keep abreast of the latest cosmetic retail and distribution market trends and information.

 

Makeup accessoriesindustry concentration is not high

 

There are more than 100 manufacturers in the world, and high-end products are mainly from the United States and Western Europe.

The world's biggest manufacturers are mainly in America and the European Union. The main consumer markets are in developed countries. Europe's market share was 26 percent, followed by North America at 20.4 percent. From 2013 to 2018, the consumer market in the Asia-pacific region grew at a compound rate of 18.15 percent.

 

 

PUSPONGE, the sponge manufacturer in China, tends to think that the makeup tools industry is becoming more mature and that consumption growth will plateau.

 

In the international market, the characteristics of marketing channels vary from company to company. Global market leaders prefer to choose Chinese OEMs to manufacture their products. In North America, the European Union, Japan, and South Korea, makeup tools are usually sold together with cosmetics such as personal care and eye shadow, but in China, makeup tools are usually sold separately over the counter, which leads to a lower market penetration rate in China than in developed countries. Now that Chinese merchants have realized the disadvantage of marketing channels, they are working on improving marketing channels.

 

The market is affected not only by price but also by product performance. Although small enterprises have price advantages, their application range is limited due to poor manufacturing and processing, cheap raw materials and less product diversity.

 

Looking ahead, the slow upward trend in prices in recent years will remain unchanged. As competition intensifies, the price gap between different brands will narrow. Similarly, gross margins can fluctuate.

 

Superior companies have the advantages of better performance, richer product types, better technology, and impeccable after-sales service. As a result, they occupy most of the market share in the high-end market.

 

Corporate mergers and acquisitions and cooperation between companies have grown and grown. Companies in developed regions have been more inclined to invest in less developed regions in recent years, as downstream consumption is usually accompanied by developed and rapid economic growth areas such as the BRICS countries.

 

With the recovery of the global economy, more and more people pay attention to the improvement of living standards, especially in the less developed areas with a large population and rapid economic growth, the demand for cosmetic tools will increase.

Looking ahead, the global makeup tools market will grow from $1.83 million in 2017 to $3.15 billion in 2023, with a compound annual growth rate of 9.45 percent.

 

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