According to the CITIC Securities Research Report, from a demand perspective, consumers have a strong understanding of collagen, and demand is strong; from a supply perspective, registration certificates for natural collagen and recombinant collagen are trending upward channels. In the short term, the total number of registration certificates is within a reasonable range. In fact, there are few products on the market, the overall price is high, and the supply does not fully meet the needs of beauty seekers. The industry is still in the dividend period, and all certified persons can find an appropriate ecological position; in the medium term, with the increase in registration certificates, brands with strong product differentiation can be competitive, and differentiation is highly dependent on materials and underlying technology and processes; in the long run, the competitive differences brought about by the products themselves between brands will shrink, and the comprehensive strength of “product+channel+marketing” will play a greater role.

According to the CITIC Securities Research Report, from a demand perspective, consumers have a strong understanding of collagen, and demand is strong; from a supply perspective, registration certificates for natural collagen and recombinant collagen are trending upward channels. In the short term, the total number of registration certificates is within a reasonable range. In fact, there are few products on the market, the overall price is high, and the supply does not fully meet the needs of beauty seekers. The industry is still in the dividend period, and all certified persons can find an appropriate ecological position; in the medium term, with the increase in registration certificates, brands with strong product differentiation can be competitive, and differentiation is highly dependent on materials and underlying technology and processes; in the long run, the competitive differences brought about by the products themselves between brands will shrink, and the comprehensive strength of “product+channel+marketing” will play a greater role.