The China cosmetic market continues to be one of the largest and most competitive beauty industries in the world. In 2024, the market share of various beauty sectors is being shaped by new trends, evolving consumer preferences, and a growing demand for both luxury and affordable beauty products. With the rapid rise of skincare, makeup, and emerging beauty technologies, the market is attracting global brands while offering significant growth opportunities for local companies.
Skincare Dominates the Market Share
In 2024, skincare holds the largest share of the China cosmetic market. As consumers become more conscious about their skin health, the demand for skincare products has surged across all age groups. From anti-aging creams to moisturizers, serums, and sunscreens, skincare products continue to dominate both online and offline beauty sales. As a result, global and local skincare brands are competing fiercely to capture the attention of the Chinese consumer.
The rise of clean beauty and natural ingredients has reshaped consumer purchasing behavior. Chinese consumers are increasingly looking for products that are eco-friendly, cruelty-free, and free from harmful chemicals. Brands that cater to these demands are securing a larger slice of the market share. Skincare companies that use plant-based ingredients or promote sustainable packaging have seen significant growth in recent years, and this trend is expected to continue in 2024.
Makeup’s Growing Share
While skincare remains dominant, makeup is experiencing rapid growth and steadily gaining a larger share of the market. In particular, younger consumers, particularly Gen Z, are driving this trend, with an increasing demand for bold, creative, and high-performance makeup products. Brands that offer long-lasting, vibrant products with a focus on personalization are gaining traction.
E-commerce’s Influence on Market Share
In 2024, e-commerce continues to play a significant role in the shifting China cosmetic market share. Online platforms such as Tmall, JD.com, and Taobao dominate beauty product sales, offering consumers convenience and a vast range of products to choose from. Online beauty shopping also benefits from the growing influence of social commerce, where influencers and beauty bloggers actively promote and sell products via live streaming and content sharing.
Social media platforms like Xiaohongshu (Little Red Book) are also impacting consumer purchasing behavior, particularly when it comes to beauty products. These platforms allow users to share reviews, tutorials, and recommendations, making them powerful tools for shaping market trends and driving sales.
Technological Advancements
Technology is playing an increasingly important role in shaping the China cosmetic market share. Innovations such as virtual try-ons, AI-powered skin assessments, and augmented reality (AR) makeup apps are attracting more tech-savvy consumers who want personalized shopping experiences. Brands that incorporate these technologies into their e-commerce platforms are gaining a competitive edge, as they offer customers more confidence in their product choices.