Industry Overview - The functional skincare market has become a dominant segment within the broader skincare industry, driven by increasing consumer awareness of skin issues and ingredient research [3][5] - Functional skincare products are designed for individuals with specific skin concerns, including whitening, anti-aging, sun protection, and hydration, often containing medicinal ingredients [1][5] Market Growth - The global functional skincare market is projected to grow from $35.3 billion in 2016 to $168 billion by 2024, while the Chinese market is expected to increase from 7.42 billion yuan to 48 billion yuan in the same period [5] - The demand for functional skincare products is fueled by the rise of ingredient-conscious consumers, sensitive skin populations, and post-aesthetic treatment recovery needs [3][5] Product Categories - Functional skincare products encompass three main categories: dermatological skincare, efficacy-driven skincare, and medical-grade skincare, with "pharmaceutical cosmetics" falling under dermatological skincare [5] - Professional skincare products are further divided into patch-based and non-patch-based forms, with patch-based products, such as masks, projected to grow from 2.38 billion yuan in 2017 to 19.34 billion yuan by 2024 [5] Industry Leaders - Companies like Huaxi Biological, Beitaini, and Juzhi Biological are recognized as industry leaders, driving development through innovation [9] Consumer Trends - The evolution of functional skincare reflects a dual pursuit of beauty and health, highlighting a growing consumer awareness of personal skincare needs [11]