Event Details
The Beauty industry in China is booming. Today, the market presents numerous exciting opportunities for beauty brands. To stay up to date with the latest beauty trends, Chinese consumers are open to the trial of niche brands or new categories to satisfy their pursuit of beauty but sophisticated. According to Statista, China's cosmetics market reached ยฃ 54.9 billion in 2023. The industry is expected to grow, with a projected market size of ยฃ61.3 billionโ by 2025. As the second-largest cosmetics-consuming marketโ in the world, China has generated huge business opportunities for the cosmetic industry which is one of the promising fields UK companies could explore.
However, along with the emergence of competitive domestic brands as well as the change of consumers' ever-evolving needs, to win the market share, UK brands need to reinvent themselves and stay close to the local market constantly. Meanwhile, alongside the implementation of the Cosmetic Supervision & Administration Regulation (CSAR) in 2021 by the National Medical Products Administration (NMPA) in China, the landscape of cosmetic regulations in China is undergoing significant change. It is time for UK brands to increase their knowledge of the Chinese cosmetic market and understand what the change means for them.
The Department for Business and Trade (DBT) and the Cosmetic Toiletry and Perfumery Association (CTPA) are going to jointly organise the seminar of The View of China Beauty Market on 25th September 2024 in London, to support more UK brands to learn about the opportunities and challenges of China beauty market. During the seminar, we will invite industry experts from China to dive into the implementation of CSAR, share existing trade barriers, and navigate the current China beauty market landscape, and opportunities. UK companies will have the opportunity to meet DBT China colleagues, network of China beauty buyers, and exchange ideas with their peers.