Core Insights - Chinese beauty (C-Beauty) is rapidly expanding its global presence, enhancing its competitiveness in skincare and makeup, and directly competing with Korean beauty (K-Beauty) in international markets [1][2] - Korean beauty exports to China have declined for two consecutive years, with a significant drop of 18.7% in the first ten months of this year, leading to China losing its position as the largest export market for Korean beauty products [1][2] - The market share of domestic Chinese beauty brands has increased to 55.2%, marking three years of steady growth [1] Group 1: Market Performance - From January to September this year, China's beauty exports reached $5.403 billion, a year-on-year increase of 9.13%, with the number of export destinations expanding from 200 to 215 [1] - In contrast, Korea's beauty exports to China amounted to $1.7252 billion in the first ten months, reflecting an 18.7% decline compared to the previous year [1] Group 2: Global Trends - The global search index for "C-Beauty" surged from 44 in July to a peak of 100 in September, surpassing "K-Beauty" which stood at 90 [2] - The rise in interest for Chinese beauty products is closely linked to the popularity of "Douyin makeup," characterized by matte finishes and bold eye makeup, which has significantly increased global exposure for Chinese brands [2] Group 3: Competitive Landscape - Korean beauty is perceived to be overly focused on skincare, while it has been surpassed by Chinese beauty in the makeup sector, prompting calls for diversification in Korea's main export categories [3] - In the first nine months of this year, Korea's lip makeup exports were $466 million, while China's were $646 million; for eye makeup, Korea's exports were $148 million compared to China's $439.37 million, indicating a widening gap [3]

Core Insights - The Southeast Asian beauty market is emerging as a "blue ocean" for Chinese brands, driven by a population of 670 million and over 40% e-commerce penetration, as domestic markets face saturation [1][24] - The market is expected to grow from $22 billion in 2024 to between $31 billion and $36 billion by 2030, with Indonesia, Vietnam, and Thailand contributing nearly 70% of the market share [1][2] Market Size and Growth - The Southeast Asian beauty industry is in a rapid expansion phase, with Indonesia holding the largest market share at 35.7%, followed by Vietnam and Thailand [1][2] - Indonesia is recognized as the largest halal beauty center globally, while Vietnam is becoming a hub for live commerce, and Thailand dominates the efficacy skincare segment [1][2] Online and Offline Channels - The online beauty market in Southeast Asia reached approximately 141.79 billion yuan in the past 11 months, with Shopee capturing 63.9% of the market share [2][3] - TikTok is emerging as a unique platform where content drives sales, with brands achieving significant conversion rates through creative marketing strategies [2][3] Localization Strategies - Successful market entry requires a deep understanding of local cultures, preferences, and needs, moving beyond a one-size-fits-all approach [4][5] - Brands like Fan Beauty Diary and Veenona have successfully established themselves in local markets by leveraging trusted retail channels and adapting products to meet local demands [3][4] Future Outlook - The integration of online and offline strategies is essential for sustained growth, with brands encouraged to test markets through platforms like TikTok and Shopee before scaling [4][5] - Long-term success will depend on creating culturally resonant content and building emotional connections with consumers, rather than relying solely on traffic acquisition [4][5]