In 2024, the beauty industry is undergoing a series of profound changes. From the perspective of market trends, new products continue to emerge. Anti-aging, repair skin care products and makeup have become new growth points. As for the investment sector, it shows a strong interest in cutting-edge technology, perfumes and medical beauty and health products. Meanwhile, the rise of the concept of Green Beauty is reshaping the industry landscape, and the perfume market is becoming increasingly competitive. In this context, beauty buyers need to constantly adjust their strategies to adapt to the rapid changes in the market and the diversified needs of consumers.

1. The Number of New Products Continues to Grow
In 2024, the beauty industry has ushered in a new round of product innovation. Many well-known brands have launched new products, hoping to seize the market opportunity in the new year and achieve a breakthrough in performance. According to incomplete statistics, nearly 50 brands have launched more than 60 new products, covering many fields, such as skin care and makeup.

In the skin care products category, anti-aging and repair products have become mainstream. International brands such as HR, Lancome, Estee Lauder, etc. are competing fiercely in the anti-aging market with their cutting-edge innovative technologies and unique ingredients. Meanwhile, the Chinese beauty brand PROYA has also won the consumer’s favor through its unique cell rejuvenation technology to fight aging from the root.

In terms of repair products, the market demand continues to be strong. Chinese cosmetics brands are particularly prominent in this area, with an increasing share of sales on e-commerce platforms such as Tmall and Taobao. As people pay more attention to skin health, soothing and repair products are expected to become the new blue ocean in the beauty market.

In addition, with the decrease in the use of masks, the facial makeup market is gradually picking up. New makeup and concealer products have become the new favorites of the market. Chinese cosmetics brands such as Carslan and Blankme, as well as international brands such as Estee Lauder and Bobbi Brown, have launched new products based on makeup and concealer to meet consumers' diversified needs for beauty.

2. Beauty Industry Investment Trends
In 2024, the beauty industry has ushered in a new wave of investment and financing. L 'Occitane has taken the lead by acquiring Italian premium home fragrance brand Dr. Vranjes Firenze, further enriching its lineup of beauty and fragrance brands. Meanwhile, international beauty companies such as L 'Oreal, LVMH and Puig are also actively laying out and seeking new growth points.

For instance, L 'Oreal invested in three technology-related companies in just one month, covering various fields such as eco-friendly water technology, hardware technology and skin care technology. LVMH and Puig set their sights on the beauty and health sector and made a series of investment layouts.

Furthermore, the fragrance market continues to receive attention. Shiseido has added a subsidiary in China to enter the medical device business in response to increasingly stringent cosmetic regulations. This initiative demonstrates Shiseido's confidence in the continued growth of the Chinese market and reflects the huge potential of the Chinese beauty market.

Moreover, USHOPAL GROUP's investment in Chinese local high-end perfume brand DOCUMENTS highlights the rise of local Chinese beauty brands. This investment is a recognition of Chinese local brands and an expectation for the future development of the Chinese beauty market.

Overall, the investment in the beauty industry mainly focuses on three major areas of cutting-edge technology, perfume, and medical beauty and health. The Chinese market, with its huge market size and innovation ability, still maintains a strong attraction and has become an important destination for investment in the beauty industry.

3. Perfume Markets are Highly Competitive
In 2024, the perfume market is becoming more competitive. The continued growth of the premium market and emerging markets such as Asia presents new opportunities and challenges for brands.

To seize this opportunity, Kering plans to launch Bottega Veneta, Balenciaga and Alexander McQueen perfume lines, and is considering recycling outsourcing business to strengthen brand control and market competitiveness. Meanwhile, many luxury brands such as Brunello Cucinelli, Ann Demeulemeester, Mellerio and Donna Karan have also entered the perfume field, trying to find new growth by launching new products.

Coty is strengthening its beauty licensing business through cooperation with brands such as Marni and Etro. As the trend of internal beauty business among luxury groups strengthens, such as the cooperation between L 'Oreal and Miu Miu and the establishment of a luxury fragrance division, Coty is also facing a lot of competitive pressure.

While growth in luxury perfumes has slowed, the average perfume market is showing new growth potential. Consumers are paying more and more attention to cost-effective products, which provides a broad space for the development of the average perfume market.