Prospects for China's cosmetics industry

 The global cosmetics market reached US$500 billion in 2017 and is expected to surpass US$800 billion by 2023 with an annual growth rate of about 7%. The cosmetics industry is one of the fastest growing industries of the last decade. According to data, China's cosmetics market will reach US$60 billion in 2021. By 2050, it is expected to become the world's largest consumer cosmetics market worth approximately US$450 billion. In the future, it is expected that these products will be further subdivided and specialized into cosmetics for children and pregnant women, cosmetics for men, cosmetics for sports, and cosmetics for the elderly.

The influence of social media and the internet has increased awareness of the risks associated with using many chemicals in cosmetics and the health benefits of natural products derived from plants and other natural sources. For this reason, the cosmetics industry is currently paying more attention to natural products. The current review focuses on possible uses of natural products from various biological sources in skin care cosmetics, including topical care products, fragrances, moisturizers, UV protection and anti-wrinkle products. The recent implementation of strict regulations on the manufacture and sale of cosmetics has adversely affected the cosmetics industry in China in the short term. However, in the long term, it is expected to develop rapidly as a healthy cosmetics industry using traditional Chinese medicine and folk herbs.

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