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NewswireTODAY - /newswire/ -
London, United Kingdom, 2008/04/23 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report showing that China’s skin care market is expected to grow at a CAGR of 12.5% from 2008 to 2012.
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Report Buyer has added a new report showing that China’s skin care market is expected to grow at a CAGR of 12.5% from 2008 to 2012.
“Cosmetics and Toiletries Market in China” identifies that rising purchasing power and growing product awareness is leading to expansion in demand for skin care products in the world’s largest economy. Other than these primary forces, factors such as rising disposable income, shift towards a westernised culture and a changing lifestyle are also fuelling growth in the industry.
The study notes that China's cosmetics and toiletries industry ranks second after Japan (as of 2007) and has been witnessing strong growth in the Asia-Pacific region. Improved living standards along with rising consciousness about the looks have been propelling Chinese consumers to go for more cosmetic and toiletry products in their daily life.
The report shows that China has the largest populace in the age group of 15 to 59 years, which is considered more fashion-conscious. Subsequently, domestic players in the skin care market are launching new products with added features to cater to the needs of this consumer segment.
Authors of the report note that apart from domestic players, the growing skin care sector of China is also attracting many foreign players. The report identifies that many international brands like Olay, L’Oreal and Aupres have successfully established themselves in skin care products market of China. For instance, in 2006, among the top ten skin care brands in China, eight were foreign. Moreover, due to relatively high purchase and usage rate, all foreign brands are showing positive growth.
“Cosmetics and Toiletries Market in China” is available from Report Buyer. For more information, see website.
Report Buyer product ID: RCS00396
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