MEATH, Ireland—Skin care reigns supreme in China, according to Diagonal Reports, and they are embracing new beauty approaches such as aesthetic medicine. Chinese women are prepared to pay for effective facial care products and treatments because they want perfect skin and have very exacting standards. They spend proportionately more per capita on skin care than their Caucasian counterparts; and the skincare category accounts for most of the personal care market in China, which is also one of the largest world markets for luxury skin care products.
A huge industry has developed to meet high consumer demand for skincare. Spa chains, which combined have many tens of thousands of units nationally, provide routine skin care treatments and, in addition, their VIP spas offer a range of minor and not-so-minor aesthetic procedures.
Surgery Over Skin Care
Chinese women, in their quest for perfect skin and enhanced beauty, have enthusiastically embraced aesthetic medicine. Technology and science—whether lasers/IPL, fillers or cosmetic surgery –are recognized as very effective ways of delivering the desired outcomes. These can be a blemish-free skin and altered facial features (e.g., Asian eye procedure) or body parts (e.g., breast enhancements).
Artificial beauty is now widely accepted by Chinese society, especially urban dwellers. It is fair to say that cosmetic surgery is now viewed as a quite normal procedure much like teeth straightening is regarded in the west. The beauty market in China is a predominantly young market. The pursuit of a flawless skin rather than anti-aging (e.g., prevention or removal of lines) is the main driver in contrast to more mature U.S. and European markets.
Demand for medicalized beauty now outstrips supply. Sales of invasive and non-invasive treatments are forecast to increase by almost 40 percent over the next three years, according to new research published by Diagonal Reports. The aesthetics industry in China is gearing up to meet this higher demand. Some of the Chinese laser clinic chains interviewed by Diagonal Reports plan to double the number of units they operate. This expansion will take place outside the tier-one cities.
The premium segment accounts for almost a quarter of the value of the medicalized beauty market. These clinics can command up to a 100-percent price premium for their cosmetic surgery procedures. The importance of this segment is due to a number of factors. The main issues are consumers feel they lack protection as regulations have yet to catch up with an industry still in its infancy, and they also fear the consequences of botched procedures.
Foreign companies and brands, which can guarantee the highest of quality standards and the best technology, are knocking on an open door.
