C-beauty brands outperform in China: report
Sales of brands amongst the top 20 brands in colour cosmetics grew to 28% in 2022.
The retail value of C-beauty brands doubled from 14% to 28% between 2017 and 2022, Euromonitor International showed in its latest report.
The report also showed that the mature industry supply chain, changing consumer awareness, a highly developed digital landscape, the availability of sufficient talent, and government and capital market investment boost quality and number of C-beauty brands in the market.
After rapid growth, a significant issue for C-beauty brands is maintaining their performance and searching for a second growth curve for a solid market position.
C-beauty brands also sought future growth in areas like R&D, brand value communication, and premiumisation.
Expansions of C-beauty brands to fragrances and overseas also pose competition with foreign brands in the broader market on an equal footing.