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Category: China
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After two years of contraction, Chinese consumption of luxury goods appears to be recovering. According to Oliver Wyman, a net 31% of Chinese consumers are willing to spend more on personal luxury goods in 2026, compared to a net contraction of -6% in 2025 and -2% in 2024. This evolution comes improving consumer confidence, favorable…
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It appears the Chinese beauty market has entered a period of structural recovery, moving beyond the volatility of previous years driven by consumer’s new priorities and category diversification. According to KPMG, beauty retail sales grew by 5.1% in 2025 a rebound from a -1.1% decrease in 2024.
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While 80% of Chinese consumers remain optimistic about the domestic economic outlook, per capita luxury expenditure is projected to contract by approximately 4% over the next twelve months according to data from a Kearney survey of 3,000 Chinese aspirational luxury shoppers conducted in 2025.
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India’s beauty market, valued at around $20bn in 2025 is being reshaped by three major trends.
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The ranking of the top ten listed Chinese beauty companies from 2022 to H1 2025 from KPMG China provides valuable insights on the key trends on the Chinese beauty market.
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According to iiMedia Research, the engine of the cosmetics market is the 26-40 demographic, which collectively accounts for 77.8% of consumption. Within this group, the 26-30 segment represents 41.0%, while the 31-40 bracket makes up 36.8%. These consumers prioritise functionality, ingredient safety and brand reputation. They select products that address daily skincare requirements or enhance…
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China’s beauty industry is entering a new phase of growth. After expanding at a CAGR of 5.3% between 2019 and 2024 to reach an estimated €91bn in 2025, the market should accelerate to a 7.2% CAGR through 2029, hitting €121bn, according to China Insights Consultancy (CIC).
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China’s beauty market, only second to the US at an estimated $77.3 billion in 2025 according to PwC, is undergoing a fundamental rebalancing. Its growth now trails the global average (4% CAGR 19-25), signaling not stagnation but a structural internal realignment. The long-standing dynamic where China was a net importer of prestige brands and an…