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Expanding the multi-billion-dollar beauty market in 2019 – 6 opportunities to watch

2019-09-05

Beginning with the consumption trends of the beauty economy, skin care has become a nation-wide topic in China, giving birth to beauty businesses with new markets and opportunities arisen.

 

According to the Mintel Report, the sector of skin care product of China will reach 240.1 billion RMB of the beauty market share in 2022, becoming the second biggest market in the world; whilst the overall sales of the facial mask will reach 45.125 billion RMB in 2022. The enormous market opportunity prompted NBC to identify six opportunities in assisting clients to open the door of the beauty market.

NOX BELLCOW-Expanding The Multi-billion-dollar Beauty Market In 2019 – 6 Opportunities To Watch

 

At the 2019 Beauty Economy and CIBE 30 Anniversary Ceremony, Eric Mak, vice president of Marketing, NBC, revealed that females of Gen Y is the target group of the beauty market in which they prefer product diversifications, thus, it is difficult to gain their loyalty as they love to try new things.

 

Natural and Safe are top priorities

To many consumers, natural beauty products are safer when their concerns over safety have been increased. Thus, female consumers in China are opting for ‘natural’ and ‘safe’ beauty products ever than before.

 

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NBC has foreseen the desire of ‘back to basics’ by consumers in terms of skin care, launching the Biomass graphene Facial Mask in 2017. Employed natural material such as extracts of natural corn cob and green additive, the new facial mask material is safe, natural, hi-tech and skin friendly – leading the facial mask market to incorporate a more advanced technique into manufacturing.

 

High ‘efficacy’ won confidence from consumers who are ingredient-centric

At the same time, consumers are more aware of the ingredients being used in the products; and their demand over efficacy has increased. Questions like what the ingredients were employed and what for. When consumers knowledge over ingredients are increased, they know what to choose from and thus, pushing the market to become more transparent to gain their trust.

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Facing this factor, NBC laughed Regenerating & Healing series which used Anthyllis vulneraria L as material, was an experiment focusing on efficacy and ingredient.

 

Cosmeceutical – the tornado that swipes the beauty market

The coming of the beauty era has changed the concept of cosmeceutical that people usually perceived in the past. This has swiftly developed in China over the past couple of year where just in 2016, the market reached 77.6 billion RMB, and is expected to reach 100 billion in 2019.

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Fast, convenient and less risk are the reasons behind cosmeceutical that consumers are favored of. NBC launched the series light medic-beauty products that are the ampoule and freeze-dried series that are protective and functional that helps our clients to enter and win in the cosmeceutical beauty market easier.

 

Recognizing the anti-aging treatment early on for better preparation

Firm, young skin is most preferable. Delaying skin to becoming mature is the top priority of many young consumers of today. As they already have acquired some knowledge over anti-aging treatments, they aim at preventing the formation of wrinkles and ensuring suppleness of skin.

 

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NBC focuses on the desire the consumers have over anti-aging treatments, launched the Nano Instant Tightening Facial Mask. Each collagen and active peptide fiber formed the solid essence mask, quickly restore the elasticity of skin, achieving suppleness swiftly. The V-line Facial Mask features V-shaped, tightening and 3-D effects for a sharper contour.


Blue-ray prevents urban pollutants to skin

The digital era is the biggest challenge to the young generation as the frequent use of digital devices brings negative effect to skin – aging. Chinese consumers were aware of this situation very early on. They are keen at using anti blue ray products.

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To help consumers from the damages of blue-ray, NBC launched the Anti Blue Ray Restorative Series which adopted the 360° 3-steps prevention technique. This acts as a ‘shield’ to stop blue ray penetrating to skin.

 

‘Fun + Personalization’ are key to win consumers heart

Personalization and self-recognition speak well about today’s young generation. When they look for cosmetic products, they are looking for something new and fun too.


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Trendy, fun and functional are the three key criteria consumers are looking for today. Therefore, NBC launched the Bubble Cap series which features a transparent packaging and easy to carry, which adds some interesting features to delight consumers.

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(Second right) Fan Zhanghua, CEO of NBC

 

 

 

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Eric Mak, vice president of Marketing, NBC representing NBC to receive award

 

From 2017 to 2018, NBC launched over 150 products to the market. With the best production line and supply chain, these new products were born. Since 2017, NBC has invested over 450 million RMB in the research and development work, as well over 350 million RMB in upgrading the production plants and the relevant equipment to meet the market growth.

 

Was once again being recognized with its endeavors at the 2019 Beauty Economy and CIBE 30 Anniversary Ceremony. Fan Zhanhua, CEO of NBC (first right) won the Golden 30 Beauty Influential Personality Award whilst NBC won a special award too.

 

In 2019, a new scene in the beauty market has been revealed. NBC commits to provide the best products to clients, whilst expanding the ‘blue ocean’ market in the beauty sector.


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