Holding up a mirror to the economy

A man passes by a Make Up For Ever store in Beijing, July 28, 2013. [Photo / Asianewsphoto]

Among the company's latest products tailored to the Chinese market are a cosmetic balm for Chinese men looking to mask face blemishes and skin serum products made with traditional herbal ingredients, according to Businessweek.

Skin care products are the largest cosmetics category in China, the Reportlinker report said. Its market size in 2012 hit $13 billion, up 9.9 percent year-on-year.

Among skin care products, the report said cream and anti-aging products are the most popular, with sales standing at above 60 percent in the China skin care product market.

"Chinese women are developing more sophisticated routines," Lui Meng Chow, a Mintel research analyst, said in the company's Facial Skincare China July 2013 report.

"Even though the facial skincare market is mature, there are still gaps that exist between customers' needs and the products that are currently available," Chow said. "Diversification therefore offers an opportunity for domestic small brands and new players in the market, who were initially being squeezed by the sway of foreign giants."

Chow said the impact of rising incomes and increased skin care concerns in China has seen the facial care industry move its focus from providing simple facial care to include products that deliver on specialized facial care treatment.

The analyst said that products with natural ingredients and carrying "zero-burden" claims, such as additive-free products, are favored by customers, following a flurry of product safety scandals.

As for the makeup market, the report said the sector started late, but has developed rapidly with sales in 2012 grossing $3.8 billion, a year-on-year rise of about 20 percent.