Industry Analysis & Industry Trends
The Cosmetic and Personal Care Product Manufacturing industry has posted strong growth over the past decade. China has become one of the largest cosmetics markets in the world and ranks first in Asia. Industry revenue has been growing at an annualized rate of 7.1% in the five years through 2015, to an estimated $18.7 billion.
Over the next five years, industry revenue is forecast to grow 7.6% annually, to total $27.0 billion in 2020. Demand for cosmetic and personal care products in China is expected to be medium over the period; as the government continues to build a clean environment, consumption in gifts such as high-end cosmetics continues to decrease.
Chinese cosmetic and personal care product manufacturers mostly compete in lower-end markets.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
This industry is in the growing phase of its life cycle, with value added increasing slightly faster than China's GDP growth between 2010 and 2020.
China has a large potential market for cosmetics and personal care products. Currently, Chinese people spend less than $20 each year on such products per capita, much less than the world average. But the expenditure has been rising. Especially, Chinese consumers have the largest consumption of luxurious cosmetic and personal care products worldwide.
China has now become an important global production base for cosmetics and personal products. As product quality and brand image improve, some domestic brands, such as Herborist, have sought to develop foreign markets... purchase to read more