NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/05/21 - Recovering economy along with improving income levels will trigger Russian cosmetics industry to once again achieve dynamic growth momentum from 2010 onwards, says RNCOS.
According to our recent market research report, “Russian Cosmetics Market Forecast (2008-2012)”, Russia has emerged as one of the fastest growing cosmetics markets across the European region. Factors including, rising per capita spending on cosmetic products, favorable consumer behavior, increasing product innovation and presence of large number of foreign players have resulted in positive outlook for the Russian cosmetics industry in long term. The industry stood strong against recession and as per our research, it will grow at around 8.8% CAGR during 2010-2013 on the back of various decisive trends discussed and evaluated thoroughly in the report.
The report identified that cosmetics market for mass segment products is dominated by domestic manufacturers who control a substantial share as compared to foreign companies. These brands have emerged as favorable choice for Russian consumers and have contributed towards the positive growth of the industry in the tough time of economic recession. We expect this trend prevail in coming years also, which will further drive the industry’s growth.
Moreover, color cosmetics currently dominate the industry in terms of revenue generation. New product innovations, increasing inclination towards adopting new fashion trends among Russian women and rising frequency of applying color cosmetics will further push the growth of color cosmetics segment in the country.
“Russian Cosmetics Market Forecast (2008-2012)” is a comprehensive analysis of the burgeoning cosmetics industry in Russia and its segments including Hair care, Skin care, Perfumery, Oral care, Bath care, Depilatories, Baby care, etc. The report also discusses the segment-wise market structure, current and past market performance and factors critical to the success of the cosmetics industry in the country. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile and strategic moves of the leading players operating in the industry.
Most importantly, the report also presents industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report is a complete and coherent analysis of the Russian cosmetics industry and will, thus, prove decisive for clients.
RNCOS (RNCOS.com), incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.