美妆行业周度市场观察-20250820

Investment Rating - The report does not explicitly provide an investment rating for the beauty industry Core Insights - The children's cosmetics market is experiencing rapid growth, with over 28,000 products expected to be registered in China by 2025, driven by strong consumer demand and an increase in parental acceptance [3] - The luxury beauty segment is facing challenges, with the global luxury market experiencing zero growth for two consecutive years, leading to a significant decline in sales in China [5] - The rise of niche and domestic brands is evident, with Chinese brands occupying 16 out of the top 20 spots on the Douyin beauty list in July [3] - The "blind box" sales model is gaining popularity on Douyin, stimulating consumer spending but raising concerns about product quality and after-sales service [5] - The beauty market is undergoing a brutal reshuffle, with many high-growth startups facing closure due to capital pressures and operational challenges [6] - The trend of "economic upward beauty" is emerging, characterized by bold colors and nostalgic aesthetics, reflecting consumer desires for emotional expression [6] - Brands are increasingly focusing on women's narratives and social responsibility, aligning marketing strategies with evolving gender perceptions [8] Industry Trends - The children's cosmetics market is projected to reach $2.36 billion by 2032, driven by the Alpha generation [3] - The luxury beauty segment is struggling, with a reported $5.7 billion loss attributed to reduced spending by Generation Z [5] - The "blind box" sales model has expanded into various sectors, including beauty, and is driven by Douyin's algorithms and consumer demand for surprise [5] - The average lifespan of brands in the clean beauty segment is only 3.2 years, highlighting the challenges faced by new entrants [6] - The nostalgic "economic upward beauty" trend is gaining traction, with brands leveraging this to market multifunctional and cost-effective products [6] - Women's marketing is shifting towards authentic needs and systematic strategies, with brands integrating gender equality into their social responsibility practices [8] - Light luxury brands are entering the fragrance market as a growth strategy, reflecting a shift from single product sales to lifestyle branding [8] Top Brand News - L'Oréal's performance in China has stabilized after five quarters of decline, but the overall North Asia market saw a 1.1% drop due to weak tourism retail [11] - Jinbo Bio has achieved significant growth in the medical beauty sector, with revenue increasing from 233 million to 1.443 billion yuan from 2021 to 2025 [12] - Pizhuan's new product line focuses on health-oriented whitening, combining traditional herbal culture with modern technology [12]