China’s medical cosmetology industry has seen the world’s fastest growth rate of 40 per cent since 2015, far exceeding the global growth rate of 7 per cent. The information is contained in a white paper recently released by SoYoung, China’s most popular medical cosmetology mobile app, Beijing Morning Post reported on August 9.
The paper shows that 1 in every 2.5 medical cosmetology consumers around the globe is Chinese. And 14 million Chinese people are projected to seek beauty through medical cosmetology in 2017, up 42 per cent than 2016 year-on-year. This is much higher than the global growth rate of 7 per cent.
Post-90s consumers are predicted to account for 53 per cent of the whole industry in 2017, quite different from the U.S. where according to statistics, consumers aged over 36 exceed 74 per cent.
Young consumers in China choose medical cosmetology mainly to be much more confident and meet job demands, while American consumers seek to resist senility.
In addition, statistics reveal that people with high incomes are much more inclined to choose medical cosmetology.
Nearly 80 per cent of women with monthly incomes of more than 30,000 RMB ($4,497) say they intend to seek beauty through medical cosmetology.
However, the rapid growth of the Chinese medical cosmetology industry does not only bring opportunities, but also challenges for practitioners.
Some beauty parlors without operation qualifications seek excessive profits by any means, thereby posing potential risks to consumers’ interests, the white paper disclosed.