During the 2019 Hanhoo product conference, Hanhoo (a famous domestic cosmetic brand in China) claimed that the essence market size in China reached 40 billion yuan in 2019 . Other data also suggests it is a promising market. The latest data from Tao Data shows that during the last 60 days (starting in April this year), facial essence sales have become the largest skincare sub-category across all e-commerce platforms in Alibaba, increasing 36% month-on-month . According to the 2018-2019 Cosmetic Consumer Report co-released by Nandu Big Data Research and JD.com, in the online cosmetic market, essences had the highest growth rate, with an increase of 90%, 25% higher than the growth rate of the category ranked second, i.e., sunscreen . Essences accounted for 10% of the online skincare product market .