中国香妆市场，到新的临界点了吗？

Core Insights - The Chinese cosmetics market is projected to reach a retail total of 1,073.8 billion yuan in 2024, with domestic brands increasing their market share from 52% to 55%, marking a historic turning point where Chinese brands gain dominance in the "trillion club" [1] - The rise of domestic brands is attributed to a systematic evolution of the commercial ecosystem, driven by government policies, scientific research, consumer behavior, talent development, and cultural integration [2] Policy Support - The regulatory framework established by the national drug monitoring system has created a balance between safety and innovation, enhancing industry professionalism and competitive barriers [4] - The implementation of the new Cosmetics Supervision and Administration Regulations since 2021 has ushered in a strong regulatory era, promoting compliance and accelerating industry evolution [4] Research and Development - Companies in the Chinese cosmetics industry are increasing R&D investments, with a significant number of global patent applications related to cosmetics originating from China [5] - Domestic brands are narrowing the technological gap with foreign brands by integrating resources and focusing on independent innovation [5] Consumer Behavior - The Chinese market remains the largest cosmetics consumer globally, with changing consumer preferences emphasizing quality and value [6] - The Z generation shows a strong preference for domestic brands, while older consumers are also contributing to the growth of the anti-aging market [6] Talent Development - Over 20 universities in China have established programs related to cosmetics technology, fostering a new generation of professionals in the industry [7] - Leading companies are focusing on organizational agility and efficiency to maintain competitive advantages in a challenging market [7] Cultural Integration - The rise of the "new national trend" movement has led domestic beauty brands to incorporate Chinese cultural elements into their narratives, enhancing their appeal [8] - A significant percentage of young consumers express a higher willingness to purchase products that feature national trend elements [8] Industry Evolution - The convergence of policy, market dynamics, technology, talent, and culture provides unprecedented support for domestic cosmetics brands [9] - Despite the growth, challenges such as global supply chain restructuring and intense domestic competition remain, necessitating a focus on quality and cultural identity [10] Brand Development Conference - The China Cosmetics Association is organizing a brand development conference aimed at installing three key engines for industry evolution [11] - The conference will release authoritative rankings and discuss sustainable growth strategies, addressing industry pain points and fostering collaboration [12][14] Historical Context - The evolution of the Chinese cosmetics industry can be categorized into three phases: from imitation to independent innovation, and now to global expansion [25] - The current phase emphasizes the importance of brand value and cultural identity as key competitive advantages [27]