In 2019, the global toiletries market sales reached 118.26 billion U.S. dollars, with a growth rate of 10%-15%. It is expected to continue to grow in the next five years, but the growth rate is expected to slow down after 2023. The following is an analysis of the development trend of the toiletries industry.
With the continuous improvement of living standards, people’s needs are not limited to food and clothing, but also the pursuit of quality of life. The external pursuit is bright and beautiful, and the internal home must be clean and stylish. In 2019, the market size of my country’s toiletries market exceeded 110 billion, and the market size of baby toiletries exceeded 70 billion, with the total market exceeding 180 billion. The analysis of the toiletries industry pointed out that the compound growth rate from 2014 to 2019 reached 5.8%.
Trend 1: The compound annual growth rate of the industry is as high as 20%
With the opening of my country’s second-child policy and the upgrading of consumer demand, the toiletries market has entered a stage of rapid growth. According to the development trend of the toiletries industry, the market size of infant care products for 0-3 years old in my country will increase from 7 billion in 2019. Yuan increased to 17.6 billion yuan in 2021, with an average compound annual growth rate of up to 20%.
Trend 2: New generation parents of the post-85s and 90s prefer high-end products
Young parents of the new generation born in the 85s and 90s generally have good education and avant-garde consumption concepts, and more choose high-end toiletries. At the same time, domestic and foreign maternal and child brands have gathered together to enter the Chinese market, and the demand for high-end markets continues to grow. Taking the field of baby toiletries as an example, high-end and mid-to-high-end products can account for nearly 50% of all channels in 2019. Globalization, consumption light and luxury, and brand internationalization have become trends. For example, the high-end brand Avino saw an online growth rate of 116% in 2019.
After struggling to grow in a highly competitive market environment, local companies have formed their own unique advantages in terms of brand, technology, marketing channels, etc., and have completed initial accumulation in sub-sectors. The local daily chemical industry is in a breakthrough period. The local brands of mass cosmetics are particularly competitive and gain advantages in some market segments through the strategy of “channel sinking”. There is still room for further localization in the Chinese daily chemical product market.
Looking ahead to 2020, as a rigid demand for toiletries, in this era of e-commerce outbreak, it will naturally occupy an important seat. At the same time, due to the rise of overseas shopping, cross-border e-commerce and e-commerce channels, as well as the growth of personal hygiene expenditures, and the increase in the awareness of national hygiene, they have jointly promoted the development of my country’s personal toiletries industry. The above is the development of the toiletries industry. Trend analysis of all content too.
Post time: Jan-22-2021