Core Insights - The men's beauty market is experiencing significant growth, with L'Oréal China aiming to reach 150 million consumers by 2030, particularly targeting males aged 15 and above [1][2] - Men's grooming products have shown explosive growth in 2023, with men's hair care sales soaring by 122.75% and men's foundation sales increasing by 228.78% [1][5] - The competitive landscape is shifting, with traditional brands facing challenges while new entrants like KANS and SAZA are achieving substantial growth [1][12] Market Performance - In the first eight months of 2023, the total transaction value for men's beauty products reached 60.35 billion yuan, reflecting a 10.39% year-on-year increase, with transaction volume up by 33.47% [5][6] - The breakdown of key categories shows men's facial care at 47.35 billion yuan (2.05% growth), men's hair care at 6.75 billion yuan (122.75% growth), men's body care at 3.56 billion yuan (1.61% growth), and men's color cosmetics at 2.69 billion yuan (54.88% growth) [6][7] Consumer Trends - The demand for men's beauty products is evolving from basic grooming to more diverse offerings, including anti-aging serums and makeup products [3][18] - Social media engagement around men's beauty topics is surging, with "men's skincare" videos on Douyin reaching 12.24 billion views and "men's makeup" videos hitting 7.59 billion views [3][4] Brand Dynamics - The top 20 brands in the men's beauty sector are experiencing a divide, with 9 brands showing declining sales, while others like KANS and SAZA are achieving exponential growth [12][16] - L'Oréal, Ocean Supreme, and Left and Right Color are leading the market, with L'Oréal's sales declining by 4.16% while KANS saw a 123.79% increase [11][12] Future Outlook - The men's beauty market is projected to reach 170 billion yuan in 2024, with a compound annual growth rate of 11% expected to push the market to 292 billion yuan by 2029 [3][4] - The competition is intensifying, with brands focusing on product diversification and brand building to capture the evolving consumer preferences [28][29]

Core Insights - L'Oréal China aims to reach 150 million consumers by 2030, with a focus on men aged 15 and above as a key demographic [3][4] - The men's beauty market is experiencing significant growth, with men's hair care sales soaring by 122.75% and men's foundation sales increasing by 228.78% in the first eight months of the year [3][8] - The competitive landscape is shifting, with traditional brands facing challenges while new entrants like KANS and SAZA are achieving rapid growth [4][15] Market Performance - In the first eight months of the year, the four main categories of men's beauty products generated a total transaction value of 60.35 billion yuan, with a year-on-year growth of 10.39% [9] - Men's facial care remains the largest segment, while men's hair care has emerged as a significant growth area, indicating a shift in consumer needs [10][13] - The top-performing categories include men's care sets, men's shampoo, and men's foundation, with the latter showing the highest growth rate [12][13] Brand Dynamics - The top 20 brands in the men's beauty market show a split, with 9 brands experiencing a decline in sales, while 4 brands, including KANS and SAZA, report over 50% growth [18][19] - L'Oréal leads the market, followed by brands like Ocean King and Left and Right Color, which are gaining traction through targeted marketing and product innovation [15][19] - The competition is intensifying as both domestic and international brands expand their offerings, with a focus on men's skincare and grooming products [20][21] Consumer Trends - There is a noticeable shift towards more sophisticated skincare needs among men, with increasing interest in anti-aging and multifunctional products [21][22] - The demand for men's makeup products is rising, with a reported growth rate exceeding 25% in men's makeup consumption [29] - Brands are responding to these trends by diversifying their product lines to include more advanced and multifunctional offerings [36] Future Outlook - The men's beauty market is expected to continue evolving, with a focus on brand differentiation and comprehensive product offerings [35][36] - As competition intensifies, brands will need to enhance their research and development capabilities to meet the growing and changing demands of male consumers [36] - The market is poised for further growth, driven by shifts in consumer attitudes towards beauty and grooming among men [36]