The beauty and cosmetics industry in China is one of the fastest-growing and most promising fields of business in China for the near future. As of 2020, China became the world’s second-largest beauty and personal care product after the U.S, according to Statista. Consumption in the cosmetics sector in China is expected to exceed that of the United States by 2024, being until today the world leader in the beauty market.
Due to the urbanisation, growing income, and social media influence, the beauty and personal care market is facing a burgeoning demand for higher quality, premium brand products, leading to many new brands entering the China market – whether domestic or international. In this article, we take a deeper look into what are the top 10 brands, domestic and international, that have presented rapid growth in the last year in China and that are propelled to take the East by storm in the coming ones.
In this article you’ll learn…
The top 10 Fastest Growing Domestic Beauty Brands in China
The cosmetic industry covers a wide range of products including skincare, color cosmetics, haircare and toiletries but is also finding new ways to target a new generation of consumers such as entering the blockchain beauty market. Oushiman or OSM (欧诗漫) ranked first in our ranking of The Top 10 Fastest Growing Domestic Beauty Brand in China by generating $13.3M in MIV® in Q1 2022 and presenting a growth of 848% since the first quarter of 2021. The local skincare brand recently collaborated with Tencent’s popular video game Honor of Kings and has obviously helped OSM grow its media exposure and potential audiences.
The second top ranked beauty local brand is Kans (韩束) which generated $11.3M in MIV® in Q1 2022 across 1508 placements and presented a 718% growth since the first quarter of 2021. Founded in 2002 in Shanghai with the slogan ‘science realizes your beauty’ it has grown to become one of the brands involved in FutureisClean. A movement that promotes the use of clean technologies. According to Daxue Consulting, the brand accounts for 2.1% of the brand shares in the skincare market in China
The top 10 Fastest Growing International Beauty Brands in China
Ranked first in our Top 10 Fastest Growing International Beauty Brands in China is Tula Skincare. The brand is built on the power of probiotic extracts & superfoods, implying that what is good for the body is also great for the skin. The brand has seen a colossal growth in China in the last year of 2668% from Q1 2022 vs Q1 2021. The American brand generated $189K in MIV® in Q1 2022 across 100 placements. Tula was the first brand to launch a campaign To Fight Negative Self-Talk for which they partnered with nearly 400 influencers and content creators. The campaign was massively distributed across social media.
The second top ranked beauty brand is Pixi and generated $2.4M in MIV® in Q1 2022 and presented a 597% growth in China since the first quarter of 2021. The british brand was created 20 years ago and has built a loyal worldwide following thanks to its pure products. The skincare brand is all about preserving youth and has for example recently launched a collaboration in partnership with Hello Kitty.
Hair Care is also a key market in China. Based in Stockholm, the minimalist hair care brand, Sachajuan, ranked third in our fastest growing international beauty ranking in China. Established in 1997, the brand’s philosophy to simplify haircare by reducing superfluous products, ingredients, and routines has seen a 402% growth Q1 2022 vs Q1 2021. The brand generated $317K in MIV® in Q1 2022 in China across 99 placements.
As we mentioned, the beauty market is growing exponentially in China and is set to surpass the one of the United States. Many beauty brands, local and International, are entering the market but still few have proven to understand how to surpass the beauty conglomerates in the region.