Market status and future investment strategy of China's personal care industry from 2023 to 2028

(1) Overview of personal care industry development

① Overview and classification of personal care products

Personal care products refer to residents' daily consumer goods used for skin protection or conditioning and personal hygiene. The products cover a wide range, and the common products include skin care products, bath products, paper products, etc.

② Overview of the development of personal care industry

Personal care market demand is huge, the development prospect is broad. Personal care products are daily consumer goods for the mass market. With the improvement of consumers' hygiene habits and the popularity of mass daily chemical products, personal care products have prominent advantages in market cultivation, audience, frequency of use, and use scenarios.

Demographic changes, consumption upgrades brought about by rising income levels, changes in consumption habits, increase in core consumer groups, and diversification of sales channels will be the core factors that determine the future capacity of China's personal care market. According to data from Insight Consulting, China's personal care market size grew to 458.7 billion yuan in 2019, far exceeding the 305.8 billion yuan in 2015, with a compound annual growth rate of 10.7%, and is expected to grow to 701.4 billion yuan in 2024, with a compound annual growth rate of 8.9%.

(2) Overview of the development of infant and child care industry

① Overview and classification of baby care products

Baby and child care products refer to care products specially developed for infants and children's skin and used for daily cleaning and skin protection of infants and children, mainly including body wash, body lotion, massage oil, lotion, wipes, etc.

Development overview of baby and child care industry

Thanks to the demand of young parents to pursue quality life and the growth of online channels, according to Euromonitor data, from 2015 to 2019, China's infant and child care market achieved rapid and steady growth, and the industry growth rate slowed down slightly in 2020, but it is expected that the market size of China's infant and child care will exceed 30 billion yuan in 2021. And will continue to maintain rapid growth in the future.

The "China Infant and Child Care Research Report 2021 Edition" shows that for baby and child care products, with the increasing popularity of e-commerce channels, integrated e-commerce platforms (Tmall/Taobao, Jingdong, etc.) have become one of the main channels for mothers to buy care products.

(3) Overview of essential oil industry development

① Overview and classification of essential oil products

Essential oil refers to the volatile aromatic substances obtained from the processing and extraction of fragrant plants or fragrant animals, and essential oil products refer to the formula products containing essential oil components. The company's essential oil products mainly include plant essential oil patch, plant essence oil perfume ring, citronella aromatherapy box, etc.

② Overview of essential oil industry development

The essential oil industry is an emerging industry and is still in the stage of rapid development. Due to health, environmental protection and other factors, plant essential oils extracted from natural plants and related application products are sought after by end consumers, and the market potential is huge. According to the data of Sihan Industry Research Institute, the market size of China's plant essential oil industry is expanding year by year from 2017 to 2021, and the market size reached 6.94 billion yuan in 2019, an increase of 21.54%. In 2020, the market size will reach 8.25 billion yuan, an increase of 15.63%. With the growth of demand in downstream daily chemical, medical and other fields, the scale of China's plant essential oil market shows a trend of gradual expansion.