YUNNAN BAIYAO(SZ:000538) Xin Lang Cai Jing·2026-01-07 08:23Industry Overview - China is the world's largest producer, consumer, and exporter of toothpaste, with a total market sales of 33.98 billion yuan in the previous year, reflecting a year-on-year growth of 0.86% [1] - The sales channel structure remains predominantly offline, accounting for 75.96% of total sales [1] Competitive Landscape - The top five brands collectively hold over 65% of the market share, indicating a high market concentration, with two local companies among them [5] - Yunnan Baiyao is the leading brand with a market share of 23.86%, having disrupted the market since its launch in 2005 with a focus on high quality and premium pricing [8] - The second largest brand is Haolai (formerly known as Black Toothpaste) with a market share of 20.10%, established in the 1930s [7] - Procter & Gamble's Crest ranks third with an 8.84% market share, having entered the Chinese market in the late 1980s [7] - The fourth position is held by DenCare (Ling Ling) with a market share of 6.83%, known for its long-standing presence in the market [5] - Colgate ranks fifth with a market share of 5.64%, having entered China in 1992 [5] Brand Strategies - The brand "中华" (Zhonghua) is currently ranked seventh with a market share of 4.06%, having once dominated the market with a share of nearly 40% [3] - The brand "薇美姿" (Suhk) holds a 4.88% market share and has initiated a Hong Kong listing plan, leveraging celebrity endorsements to enhance brand visibility [3] - The competitive strategies of local brands focus on continuous product upgrades and channel optimization to regain market dominance against foreign brands [8] Market Trends - The oral care industry has expanded beyond toothpaste and toothbrushes to include mouthwash and dental irrigators, with brands innovating in functionality and design to meet diverse consumer demands [8]