抗衰产业链之美护专题（上）

Global Beauty and Personal Care Industry Overview - The global beauty and personal care market has shown fluctuating growth, with a strong recovery post-pandemic. The market size has been on an upward trend, with a year-on-year growth of 8.58% starting from 2021, indicating resilience and growth potential [3][7][8]. - Skincare products have been gaining market share, increasing from 31% in 2011 to 40% in 2023, while other categories like hair care and cosmetics have seen slight declines [11][12]. - The top 10 countries account for 63.11% of the global beauty market, with the US and China being the largest markets, holding 20.86% and 13.59% of the market share, respectively [16][18]. China Beauty and Personal Care Industry Review - The Chinese beauty and personal care market is gradually rebounding, achieving low single-digit growth in 2023, but still not reaching pre-pandemic levels. Skincare remains the largest category, but growth has been slow due to maturity and inventory issues [31][34]. - The market concentration is low, with only three domestic brands in the top 10, while multinational brands dominate the market share [35]. - Online channels have seen rapid growth, becoming the primary sales channel, with online retail sales increasing from 16.2% in 2014 to 43.6% in 2023 [43][44]. Germany Beauty and Personal Care Industry Review - The German beauty and personal care market has maintained steady growth, reaching a market size of €20.599 billion in 2023, with a significant increase in growth rate from 2022 to 2023 [61][63]. - Offline channels remain the primary sales channel, accounting for 80.6% of the market share in 2023, although online channels are providing opportunities for niche brands [65][67]. - The market concentration is relatively low, with the top 10 brands showing a growth of €9.29 million from 2014 to 2023, including two men's brands entering the top 10 [69].