According to CHAILEEDO data, in January-October 2024, the scale of the cosmetics industry in China reached 759.222 billion yuan, an increase of 3.3% year-on-year.
In addition, the total GMV of the beauty category (skincare, makeup, perfume, body care & cleansing, hair care) on four mainstream online platforms – Taobao/Tmall, JD, Douyin, and Kwai – exceeded 454.328 billion yuan, with a year-on-year growth of 9.18%, compared to 8.79% growth of the same period last year.
From January to October, the market share of the top 20 online brands reached 22.1%, an increase of 4.64 percentage points compared to the same period last year.
Upon closer analysis, the performance of the L’Oréal brand stands out, as its GMV in the first ten months exceeded 10 billion yuan. Additionally, there are 6 brands with GMV exceeding 5 billion yuan.
It’s worth noting that among the top 20 brands, 7 are Chinese domestic brands, accounting for 33.66% of the total GMV of the top 20 brands.
From the perspective of growth rate, as high as 95% of the top 20 brands achieved year-on-year growth, with 75% of them achieving double-digit year-on-year growth. Brands like Whoo, KANS, and Kefumei experienced growth multiple times over.
Focusing on Chinese domestic brands, in January-October 2024, the total GMV of the top 20 Chinese domestic brands through online channels reached 55.33 billion yuan, with a year-on-year growth of 50.62%, far exceeding the overall market level.
Among these Chinese domestic brands, there are 10 brands with GMV exceeding 2 billion yuan, and 2 brands exceeding 5 billion yuan.
From a growth rate perspective, 3 Chinese domestic brands achieved growth rates multiple times over, with the KANS brand leading the growth rate list of the top 20 Chinese domestic brands at 132.2%.
