泡泡玛特稳坐潮玩“王座”，中小品牌如何寻破局新径？

ITBEAR科技资讯2025-12-17

五年前泡泡玛特带着王牌IP Molly登陆资本市场时，行业还在激烈讨论“下一个泡泡玛特何时出现”。彼时其8.5%的市场占有率仅比第二名高出0.8个百分点，竞争格局近乎胶着。如今这家潮玩巨头市值突破2500亿港元，市占率攀升至14%，而主要竞争对手的份额已萎缩至6%，行业格局呈现明显分化态势。支撑泡泡玛特构筑护城河的，是其独创的“艺术家发掘-IP孵化-全渠道运营”生态体系。这套被CEO王宁形容为“...

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