Core Insights - The competition in the sunscreen cosmetics market is intensifying, with numerous domestic and international brands launching new products, including Miss Tina, Plant Doctor, Anessa, and Huaxizi [2] - Consumer demand is driving the growth of sunscreen beauty products, with 38.82% of consumers using them daily, an increase of 12.71 percentage points since 2020 [2] - Despite the increase in product launches, market growth is slowing, with the market size expected to decrease from 31.37 billion yuan in 2022 to 29.78 billion yuan in 2024, although recovery is anticipated in the coming years [2] Market Trends - Brands are focusing on niche segments, with sunscreen foundation becoming a popular category, showing a sales increase of 517.7% year-on-year in 2024 [2] - Outdoor sunscreen products are also gaining traction, with brands like Anessa and Diqiao launching new offerings tailored for outdoor use [2] - Product development emphasizes efficacy and ingredient upgrades, with innovations such as Lin Qingxuan's "net film sunscreen technology" and Miss Tina's "royal light filter" [2] Brand Dynamics - Foreign brands like Miss Tina and Anessa currently dominate the market, but domestic brands are gaining traction through competitive pricing, with products from brands like Meikang Fendai and Liusi Mu performing well on platforms like Douyin [3] - The transaction volume for mid-to-high-end products priced between 200 yuan and 500 yuan has surpassed that of products priced between 50 yuan and 100 yuan on the "Tao Tian" platform [3] - As summer approaches, competition in the sunscreen cosmetics sector is expected to intensify further [3]

Core Insights - The online beauty and skincare market in China is projected to reach a GMV of 420 billion yuan in 2024, showing a counter-trend growth despite the "consumption downgrade" narrative, indicating a complex consumer behavior where budget-consciousness coexists with a willingness to spend on high-value products [1][2][5] - The market is characterized by a dual focus on practicality and emotional value, leading to significant growth in mid-range products and innovative categories like "emotion skincare" and "tech skincare" [1][13] Group 1: Market Trends - The beauty and skincare market's online sales are expected to reach 420.15 billion yuan in 2024, reflecting a year-on-year increase of 8.4%, with a volume of 4.89 billion items sold, up 7.4% [2] - In the context of "consumption downgrade," consumers are increasingly price-sensitive, with mid-range products dominating the market due to their cost-effectiveness [5][7] - The market continues to concentrate around leading and mid-tier brands, with the top 10 brands experiencing a sales growth of 17.1% and an increase in market concentration [9] Group 2: Product Innovations - The integration of skincare and makeup is creating new opportunities, with the foundation category seeing a remarkable growth of 43.5% [10][15] - The demand for multifunctional products is rising, with emotional healing and whitening being key growth drivers in the powder market, which achieved a sales figure of 5.05 billion yuan in 2024 [15] - The "emotion skincare" segment has seen a staggering growth of 466.7%, driven by consumer demand for products that address psychological needs [13] Group 3: Sunscreen Market Dynamics - The sunscreen market is evolving, with sales expected to reach 12.7 billion yuan in 2024, marking a 3.1% increase, as consumers seek products that combine skincare and makeup [22][24] - The demand for diverse sunscreen products is growing, with innovative combinations like sunscreen foundation seeing a sales increase of 517.7% [24] - Brands like L'Oréal are successfully adapting to the trend of multifunctional products, achieving a 116% growth by offering a wide range of sunscreen solutions [27][32]