"China's Consumption of Beauty Functional Foods Rapidly Increasing... Need to Secure Market Leadership"

[Asia Economy Reporter Jeong Hyunjin] As the consumption of beauty efficacy foods is increasing in China, the largest export market for Korean cosmetics, there is a claim that active entry into the related market is necessary to secure market dominance.

The Shanghai branch of the Korea International Trade Association (KITA) announced on the 19th through the report titled 'Current Status and Implications of the Chinese Beauty Food Market' that the market size related to beauty foods with effects such as skin function improvement and anti-aging in China grew from 9 billion yuan (approximately 1.55 trillion KRW) in 2016 to 16.4 billion yuan last year, and is expected to reach 23.8 billion yuan in 2023.

According to the report, by product category, whitening, anti-aging, moisturizing, and hair loss prevention functional foods showed high consumption. In particular, in China, white skin color is recognized as a symbol of beauty, and KITA analyzed that 47% of all beauty food buyers purchased whitening functional foods. It was revealed that the main consumers of whitening functional foods are the 'Jiuwu Hou' generation, referring mainly to those born between 1995 and 1999.

For anti-aging functional foods, the main consumers were the 'Baling Hou' generation born between 1980 and 1989 and the 'Jiuling Hou' generation born between 1990 and 1999, who tend to consider plant-based chemical ingredients. Although the hair loss prevention functional food market is still small, one out of six Chinese people experiences hair loss symptoms, and 41.9% of all hair loss sufferers are young people aged 26 to 30, indicating significant growth potential in the related market.

Shim Junseok, head of the Shanghai branch of KITA, said, "Currently, there is high demand for overseas products from countries like Australia and the United States in China, but there are not many Korean brands, so our companies should actively enter not only the cosmetics market but also the beauty food market." Shim added, "Since beauty foods are classified as health foods, it is necessary to first obtain the 'Health Food Sales Permit' when exporting. When marketing locally, it is important to comply with the 'Advertising Law of the People's Republic of China,' and phrases such as unverified efficacy, comparisons with other products, or guarantees of disease improvement are prohibited, so caution is required."

This content was produced with the assistance of AI translation services.