NOIDA, India—China represents one of the most dynamic and untapped cosmetics and toiletries markets in the world. It is the second largest in the Asia-Pacific region after Japan and seventh largest in the world. The last six to seven years have been highly beneficial for the market as it underwent a rapid transformation and expansion phase. Moreover, with increasing disposable income, surging working population (especially females), and with strong promotional strategies, RNCOS’ research report “Cosmetics and Toiletries Market in China" anticipates the Chinese cosmetics and toiletries market will grow at a CAGR of around 12 percent during 2010 to 2013.
The report also found the skincare segment dominates the overall cosmetics and toiletries market in China. In 2009, the segment acquired almost half of the market and showed no signs of slowing down, despite post recessionary scenario. Other segments such as, hair care, color cosmetics, fragrances, etc., have also experienced double-digit growth during the past few years. The report included the segment and sub-segment wise analysis, which provides cutting-edge market intelligence and facilitates deep and conceptual understanding of the market from the Chinese perspective.
The Chinese cosmetics and toiletries market provides opportunities to both homegrown and international players. However, international companies such as P&G and L’Oreal are currently leading the Chinese cosmetics and toiletries market. These companies are responsible for generating majority of the industry revenue and are preferred by the consumers over the local companies. The research study also discusses major players and the preferable brands in each segment.