Frost & Sullivan, in collaboration with LeadLeo Research, has released the 'White Paper on China's Skin Care Industry 2025'

In 2024, Pueraria surpassed L'Oréal with over 10 billion yuan in online sales, marking a new phase for domestic brands. The online ecosystem represented by Douyin has become a core battlefield, with brands like Han's Bundle achieving an average annual growth rate of 142.8% by binding with Douyin's traffic dividends. Domestic goods continue to seize international brand shares through ingredient innovation (such as Gu Yu's 'Guang Gan Cao Ding') and precision marketing (short drama placements, collaborations with influencers). The number of brands with an online channel share exceeding 90% has increased, reflecting the reshaping effect of channel strategies on the competitive landscape.

The concept of 'efficacy skincare' has achieved an penetration rate of 70%, with moisturizing, repairing, and anti-wrinkle being the top concerns. In 2024, sales of moisturizing products exceeded 100 billion yuan, and the number of anti-aging-related filings increased by 70% annually. Skin care brands have successively launched product series targeting different skin problems and needs, such as repairing products for sensitive skin and anti-wrinkle products for mature skin. This trend of detailed efficacy segmentation has prompted companies to increase R&D investment, explore more active ingredients and technological applications, to meet the increasingly diverse needs of consumers.

From 2022 to 2024, the online sales of China's top ten domestic skincare brands increased from 24.4 billion yuan to 43.55 billion yuan. Among them, the sales of the top three brands rose from 13.38 billion yuan to 22.93 billion yuan, accounting for more than 50%. Perlane, Han's Beauty, and Vichy dominate the market. Specifically, Perlane occupies about 25% of the market share with an absolute advantage. Its sales increased from 5.91 billion yuan to 10.76 billion yuan, a cumulative increase of over 80%. Leading brands build barriers through scientific research investment and omnichannel operations. Mid-tier brands such as Kiehl's and Gu Yu achieve super-industry growth rates by leveraging patented ingredients, further squeezing the survival space of small and medium-sized brands.

International brands such as Sea Blue Mystery and Helena still dominate the ultra-high-end market (above 2,000 yuan), but Perla and Vichy are targeting the mid-to-high-end market (500-1,500 yuan) through collagen technology. Domestic brands have increased their R&D investment from 3% to 8%, attempting to break the 'affordable' label; international brands are accelerating localization marketing, such as L'Oréal's collaboration with the Forbidden City cultural and creative products, leading to an escalating competition in high-value areas like anti-aging.

In 2024, men's skincare category saw a year-on-year increase in Douyin sales by 65%, with sensitive skin care driving growth in dermatological products. Environmental factors have led to 80% of sensitive skin issues being intervenable, giving rise to professional repair brands such as Vichy and Ximuyuan; male efficacy needs have shifted from basic cleansing to anti-wrinkle and sun protection, with raw material suppliers like Huaxi Biotech accelerating their layout in the gender-specific market. It is estimated that related categories will contribute a key incremental increase to the skincare market scale of over 530 billion yuan by 2029.

The 'Cosmetic Efficacy Claims Evaluation Specification' requires that both general and special efficacy claims must undergo human trials, increasing the filing cost and eliminating long-tail enterprises. In 2024, over 60% of consumers will value efficacy data verification, driving brands to publicly disclose ingredient traceability. Products with strong claims such as whitening and anti-aging, as well as sun protection, need to invest more in clinical testing. Compliance is forcing companies to shift from marketing-driven to research-driven, and the industry has entered a stage of 'hardcore ingredient' competition.