NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/07/22 - The rising consumption of moisturizing skin care products and the growing usage of foot care products will help the Russia skin care market to grow at a CAGR of 8% during 2010-2012.
According to our new research report “Russian Cosmetics Market Forecast (2008-2012)”, Russia has emerged as one of the fastest growing cosmetic markets in Europe, driven by favorable market dynamics, rising per capita spending on cosmetic products and favorable consumer behavior. Market developments, particularly skin care segment, have been phenomenal over the past few years. The report reveals that the segment is well poised to attain one of the fastest growths in coming years supported by various market drivers discussed and analyzed in the report.
The study has found that the facial care sub segment is working as catalyst for the overall skin care market developments. It is one of the most developed segments in the Russian beauty care market. For majority of women and increasing number of men, moisturizing cream, lotion or special cleansing gel constitutes important part of their day-to-day life. In 2008, the total sales of facial care products in Russia were estimated at around US$ 1.20 Billion as compared to industry estimates of US$ 1.03 Billion in 2007.
Apart from the skin care segment, other prominent segments such as hair care, color cosmetics, oral care, male grooming, sun care, etc have also shown promising growth results in previous years, and are further anticipated to propel the cosmetics market to register record sales in 2010. One of the dominant market drivers for future growth will be the higher proportion of female population in the country which contributes majority of cosmetics sales. In 2009, the share of female population was 54.2%, and is expected to reach 54.6% by 2012.
“Russian Cosmetics Market Forecast (2008-2012)” provides extensive research and objective analysis of the Russian cosmetics market potentials. Detailed statistics and analysis have been covered for all major cosmetics market segment including skin care, hair care, sun care, color cosmetics, depilatories, baby care, etc. Besides providing historical and current market performance, the report facilitates segment wise forecasts which will prove valuable to clients in order to understand the market dynamics and to take investment decisions.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.