NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/11/03 - Aggressive new product launches along with increasing awareness about professional skin care products will enable the market to grow at 12.7% CAGR by 2013, says RNCOS.
According to our recent research offering, “Cosmetics and Toiletries Market in China”, China provides one of the fastest growing and still an untapped cosmetics and toiletries market in the world. Market showed no signs of slowdown even in the testing scenario of the post recessionary period and posted positive year on year growth in 2009. Especially, skin care segment has been a key growth contributor and steered overall industry to sustain its growth momentum. The research further revealed that the segment will continue to post staggering market developments and will grow at a CAGR of 12.7% during the forecast period 2010-2013.
The study identified that, growing number of discerning Chinese consumers is leading into more diversified demand for skin care products. To meet the demand arising from different consumer segments, skin care players are introducing new products with added functionalities. Besides moisturizers, other products like, whitening, toners, and anti-ageing skin care have received positive response from the consumers and shown impressive growth. We anticipate this trend to remain applicable during our forecast period also, which will enable skin care segment to register one of the fastest growths among cosmetics and toiletries segments.
Apart from skin care, various other segments such as, hair care, fragrances etc. are also posting tremendous growth rates. Healthy growth in the earning capabilities of higher-income groups pushed the hair care and fragrance market sales. It is believed that the premium market sub-segments will grow in future as the cosmetics companies are increasingly targeting the young and affluent consumer segments.
Our report, “Cosmetics and Toiletries Market in China”, provides extensive research and objective analysis of cosmetic and toiletries market potentials in China. The report contains information/statistics on current and futuristic market trends of segments such as, hair care, fragrance, make-up, and skin care. The future outlook presented in report has been derived by interacting with the industry veterans, developers, analyzing information from research papers, journals, and our industry-specific in-house developed models.
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.