Investment Rating - The report provides a positive investment rating for the facial mask industry, highlighting its growth potential and market dynamics [12][18]. Core Insights - The facial mask market in China is expected to grow from 47.8 billion yuan in 2018 to 75 billion yuan by 2025, with a compound annual growth rate (CAGR) of 6.7% [12][13]. - Sheet masks dominate the market, accounting for 72.8% of the market share, while cream masks show higher growth potential [12]. - Regulatory changes are pushing the industry towards transformation, with stricter guidelines enhancing product safety and transparency [14]. - Consumer preferences are shifting towards efficacy, with 23.9% prioritizing product effectiveness in their purchasing decisions [15]. Industry Macro Market Research - The facial mask industry is defined as skincare products applied to the face, designed to enhance skin absorption of nutrients and achieve various skincare benefits [10]. - The market is expanding due to increasing skincare demands and innovations in product technology [12]. Online Industry Trend Overview - The online facial mask market is projected to grow from 20.85 billion yuan in 2023 to 27.24 billion yuan by 2025, with Douyin (TikTok) showing significant sales growth [18]. - Douyin's sales are expected to rise from 11.26 billion yuan to 19.10 billion yuan, capturing 75% of the market share by 2025 [18]. Head Brand Analysis on Douyin - The top brands on Douyin, such as EIIO and Zao Wu Zhe, have shown remarkable growth, with some brands achieving over 200% growth [28]. - The competitive landscape on Douyin is characterized by a mix of established and emerging brands, with a focus on innovative marketing strategies [31]. Consumer Purchase Behavior - The main factors influencing consumer decisions include product efficacy (23.9%), ingredients (21.1%), and skin feel (19.5%) [15][16]. - The market is witnessing a segmentation between convenience-focused sheet masks and more intensive cream masks, reflecting diverse consumer needs [15]. Regulatory Trends - The implementation of stricter regulations, such as the "Cosmetics Supervision and Administration Regulations," is shaping the industry by ensuring product safety and compliance [14]. - Future regulations will focus on sustainable packaging and the introduction of new standards for "pure masks" [14]. Brand Performance on E-commerce Platforms - Taobao's facial mask sales are experiencing a decline, with a 9.2% drop in sales for the first nine months of 2025 [22]. - In contrast, Douyin's facial mask sales are growing at a rate of 23.3%, with cream masks showing exceptional growth [25]. Market Share and Sales Data - The top brands on Taobao include Proya and L'Oreal, while Douyin's leading brands are EIIO and Original Password, showcasing a shift in brand dominance [28][37]. - The report highlights the sales performance of various brands, indicating a competitive market with significant growth opportunities for emerging players [29][37].