Key takeaways
China's makeup market is recovering well after the epidemic, and the market size is expected to exceed 60 billion yuan in 2023, accounting for 16.2%. The compound growth rate from 2022 to 2025 is expected to increase to 7.7%. By the end of 2023, China's perfume category is expected to account for 4.4% of the overall beauty market, with a compound growth rate of 19.1% from 2022 to 2025, ushering in rapid development
In the cosmetics market, international brands have performed well in terms of sales volume and content consumption, occupying a dominant position in the market. Judging from the data of the past two years, the sales share of international brands in online channels accounts for more than half, and the content playback volume of Douyin also accounts for more than 6%.
At the same time, local brands showed stronger growth. From January to October 2023, the share of online sales of local emerging brands increased by more than 4 percentage points year-on-year, and the number of Douyin playbacks increased by 41.6% year-on-year. It is worth mentioning that from January to October 2023, the top 10 fastest-growing makeup brands are all Benshi brands, and local traditional brands such as Marie Daijia and Mao Geping have made significant breakthroughs in the competition Local cutting-edge brands Fangli and AKF performed well and ranked at the forefront of growth rate.
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