China represents one of the most dynamic and untapped cosmetics and toiletries markets in the world. Last decade has proved highly beneficial for the market as it underwent rapid transformation and expansion phase. Chinese cosmetics and toiletries market is the second largest in the Asia-Pacific region after Japan and third largest in the world. Although the market has been registering impressive growth rates, the country still possesses immense growth potential. Owing to the extremely low penetration level and vast consumer base, cosmetics and toiletries market in China is expected to grow at a CAGR of over 12% during 2011-2014.
As per our new research report "Cosmetics and Toiletries Market in China", skincare dominates the overall cosmetics and toiletries market in China. During 2010, the segment acquired lion's share and showed further signs of growth, especially in the men's skin care segment. Other segments, such as hair care, color cosmetics, fragrances, etc also experienced double digit growth during the past few years. Cosmetics imports and exports in the country have also increased tremendously during the last year. We also noted that the market is currently lead by international companies, such as P&G and L'Oreal. Market dynamics in this industry are fast changing with regular launches of new and improved products by both domestic and international players, who are trying to woo customers in this very competitive battle for market share.
During the last few years, the State Food & Drugs Administration (SFDA) have tightened control on various fronts to better guard the interest of consumers, which are discussed in detail in the government regulation section of the report.
Besides, the report analyzes factors critical to the success of the cosmetics and toiletries industry in China. Additionally, the report not only discuss the market structure, current & past market performance of the cosmetics sector in China, but also sheds light on Chinese consumer behavior, emerging market opportunities, and key challenges. Forecasts for all the market segments i.e. Skin care, hair care, color cosmetics, and Fragrance have also been included in the report to provide better understanding of the cosmetics and toiletries industry in the country.
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