Core Viewpoint - The article discusses the shift in male consumer behavior from spending primarily on relationships to focusing on self-consumption, indicating the rise of a new economic trend termed "He Economy" [3][15][34]. Group 1: Changing Male Consumer Behavior - In recent years, male consumers have begun to prioritize self-spending over relationship-oriented purchases, marking a significant shift in consumption patterns [3][15]. - The percentage of men choosing not to give gifts during traditional romantic holidays has increased, with over 30% opting out during the 2024 520 festival [15]. - The average age of first marriage for men in China has surpassed 30, reflecting a declining willingness to marry among younger generations [15][42]. Group 2: Economic Impact and Market Trends - The male consumer market is projected to exceed 6 trillion yuan by 2025, with a compound annual growth rate of nearly 10% [20]. - Male online shopping expenditure has reached an average of 10,025 yuan per year, surpassing that of female consumers [15]. - The success of products and services targeting male interests, such as gaming and fitness, indicates a growing market for male-oriented consumption [17][21]. Group 3: Emerging Consumption Categories - Categories such as technology products, fitness equipment, and skincare for men are experiencing significant growth, with male consumers increasingly willing to invest in these areas [17][25]. - The rise of "He Economy" is prompting brands to rethink their marketing strategies to better cater to male consumers' interests and lifestyles [34]. - The popularity of products like the game "Black Myth: Wukong," which sold over 29 million copies, highlights the increasing engagement of male consumers in entertainment and gaming [21]. Group 4: Cultural Shifts and Future Outlook - The article draws parallels between current trends in China and historical shifts in Japan, where male consumers began to prioritize personal interests over traditional relationship spending [36][41]. - The concept of "lonely consumption" is emerging, where men focus on self-satisfaction and personal enjoyment rather than societal expectations [35][44]. - As the market transitions from an incremental to a stock-based economy, the untapped male consumer segment presents new opportunities for brands willing to adapt [46].

Investment Rating - The report does not explicitly provide an investment rating for the men's skincare industry in China. Core Insights - The men's skincare market in China is rapidly growing, with a market size of approximately 170 billion yuan in 2024, representing a year-on-year growth of 17%. It is projected to reach 292 billion yuan by 2029, indicating significant potential for expansion [4][35][36]. Summary by Sections Industry Overview - The skincare market in China is characterized by diversification, precision, and technological advancement. The market is expected to grow from approximately 3,635 billion yuan in 2024 to 4,337 billion yuan by 2028, driven by e-commerce innovations, technological advancements, and a growing demand for natural ingredients [3][29][31]. Men's Skincare Market Insights - The men's skincare market is expanding due to changing social perceptions and increasing awareness among men regarding skincare. The market is diversifying with a variety of products, and the demand for functional products is on the rise. The market is expected to see a significant increase in high-end products [4][35][36]. Market Size - The men's skincare market in China is projected to grow to approximately 170 billion yuan in 2024, with a year-on-year growth rate of 17%. The market is expected to reach 292 billion yuan by 2029, with significant growth in categories such as masks and sunscreens [4][35][36]. Product Efficacy - The primary focus of men's skincare products is on moisturizing, cleansing, and oil control. The market is evolving towards more specialized and personalized products, with innovations in technology and formulation [38][40]. Brand Performance - In the online sales channels for men's skincare, platforms like Taobao and Douyin lead in sales. While foreign brands dominate the market, domestic brands are experiencing rapid growth, indicating a potential shift in the competitive landscape [5][35]. Consumer Demographics - The consumer base for men's skincare products is diverse, with a significant portion of male consumers aged 18-35 developing systematic skincare habits. The market is also seeing a rise in demand from older male consumers for advanced skincare solutions [35][43][46]. Development Trends - The market is witnessing a trend towards younger consumers, with an increasing number of males starting to use skincare products at a younger age. The popularity of natural ingredients is also on the rise, driven by the values of the younger generation [52][56].