1.Overview of beauty market
In the past two years, the global beauty industry has been severely affected by the COVID-19. This outbreak has led to a shift in consumer preferences, with consumers increasingly concerned about health and environmental issues. There is a growing emphasis on skincare and overall well-being, with more people seeking out skincare products with “Health” labels and functionality. The demand for beauty products is no longer solely focused on external results, but also on safety, healthiness, and sustainability.

As a result, the demand for beauty products which is labeled healthy has increased. Health-conscious beauty products with natural and organic ingredients, hypoallergenic properties, and no additives are gaining more attention and popularity. Furthermore, in recent years, there has been a trend towards a healthier lifestyle encompassing healthy diets, exercise, and skincare. It has further driven the development of the health and beauty industry. It can be said that the beauty industry is closely linked to the health trends of the past year, as they both contribute to the rise and development of a healthier lifestyle.

2.Beauty market trends
(1) Natural skin care products are in high demand
The cosmetics sales of products with the concepts of "plant / plant extract", "natural", and "health" are high. The sales on Tmall in the past year were 2.72 billion RMB, 900 million RMB, and 160 million RMB respectively. However, the sales have shown a downward trend compared to the previous year. Products with the concept of "additive-free" experienced the largest decrease, reaching -68.15%. Sales of products related to the concept of "environmental protection" are relatively low, but have grown by 308.16% compared to the previous year.

Overall, consumers still have a high demand for skincare products with natural and healthy attributes. However, due to the overall decline in the beauty market, sales have decreased compared to the previous year. At the same time, environmental protection has become an emerging consumer demand and it is expected to be a trend in the future beauty market. In addition, alcohol-free and hormone-free products have also shown growth advantages.

(2) The changing environment impacts consumer demand
The leading brands in the beauty industry have been consistently promoting sustainable concepts in recent years. The environmental awareness within the beauty community continues to raise, with many international brands launching a series of promotional campaigns centered around sustainability. Consumer awareness has also been steadily increasing. In 2022, discussions about sustainable beauty products have grown by 56% compared to that in 2021. 

However, affordability is a major obstacle to the promotion of sustainable products. Consumers is unwilling to pay more for these products, this hinders the implementation of corporate sustainability programs. Sustainable innovation, product redesign, supply chain volatility and certification-related costs will lead to higher product prices, which could become a major challenge.

(3) Pure beauty has become a trend topic
As consumer awareness of health and environmental protection grows, clean beauty products are gradually receiving more attention from Generation Z and millennials. Youngsters  prefer natural, gentle and non-irritating products, and they are more willing to endorse the concept of sustainable development. The topic of natural clean beauty, once a niche subject, has evolved into a trending topic, leading to various ingredient and process demands in different niche scenes.

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