Chinese have never been so strong in pursuit of beauty. It also brought the booming development of cosmetics industry.
According to the QCC data, there are currently 8.754 million cosmetics-related companies in China. In 2019, 2.462 million cosmetics companies were newly registered. From January to October 2020, a total of 2.197 million new cosmetics companies were established. In terms of regional distribution, Guangdong Province ranked first with 909,000 enterprises, and Shandong and Shanxi ranked second and third.
Regionally, according to the data, cosmetics-related enterprises in China are mainly concentrated in the central and eastern regions and coastal areas, of which Guangdong Province has the most numbers of cosmetics companies 909,000 companies; Shandong Province and Guangdong Province are not much different, ranking second with 832,000 companies, followed by Shanxi with 628,000 companies.
As the second largest consumer of cosmetics in the world, although China cosmetics market can continue to expand rapidly, the relevant enterprises are still mainly small and medium-sized enterprises. According to the data from Qichacha, related enterprises with a registered capital of less than 1 million RMB accounted for 74% of the total, and they were the main force in the market, while only 4% had a registered capital of more than 10 million RMB.