According to the 2020 High-end Luxury Beauty Brand Consumer Trend Report, there are three major trends in the luxury beauty market. First, the market demand for high-end products continues to accelerate. Second, luxury brands have embarked on a new digital journey. Third, the battle of luxury and beauty makeup is still fierce, perfume category or into the next growth point. By 2019, high-end beauty accounts for 48 percent of the cosmetics market value.