NewswireTODAY - /newswire/ -
Noida, Uttar Pradesh, India, 2012/02/08 - Fragrance market in China is anticipated to grow at a CAGR of around 14% during 2011-2014, acknowledged RNCOS.
Fragrances are symbolized as luxury products in China. Usage of perfume (fragrance) is mainly limited to the developed cities. However, growing affluence and increasing product awareness facilitated increasing sales of fragrances during the last few years. Strong growth in the earning capabilities of higher-income classes propelled the fragrance market sales. Thus, from the changing perception of fragrances from sheer luxury to a much necessity, it is anticipated that the premium fragrance market will grow in future with cosmetics companies targeting the young mass. Resultantly, the sales are also expected to grow at a CAGR of around 14% during 2011-2014, says our new report “Cosmetics and Toiletries Market in China”.
Thus, the increasing eagerness to be an attraction, together with the increasing power of spending, has increased the demand for high quality cosmetics products in the country. With the paradigm shift towards western culture, and changing lifestyle, customers are even becoming more knowledgeable and aware about upcoming variety of products. In this context, the entry of foreign cosmetics and toiletries manufacturers helped towards strengthening the market developments. In the face of stiff competition, domestic players started upgrading their production technology and quality, which is to an extent quite indicative of creating a highly competitive scenario for specialized products in future.
Apart from the changing perception of the population towards the increasing use of fragrances, the report also analyzes factors critical to the success of the cosmetics and toiletries industry in China. It not only discuss the market structure, current and past market performance of the cosmetics sector in China, but also sheds light on qualitative aspects including consumer behavior, emerging market opportunities, and key challenges. Forecasts for all the market segments, such as skin care, hair care, color cosmetics, and fragrance have also been included in the report to provide a better understanding of the cosmetics and toiletries industry in the country. Overall, the report excels in portraying a clear picture and a balanced outlook of the cosmetics and toiletries industry in China to the clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.