Industry Analysis & Industry Trends
The Cosmetic and Personal Care Product Manufacturing industry has shown strong growth over the past decade. China has become one of the largest cosmetics markets in the world and ranks second in Asia after Japan. Industry revenue has been growing at an annualized rate of 9.9% in the five years through 2014 to an estimated $17.0 billion. Over the next five years, industry revenue is forecast to grow 5.0% annually to total $21.5 billion in 2019. The demand for cosmetic and personal care products in China is expected to be high over the period, which serves as a strong driver. However, the rising price of raw materials continues to shrink profitability.
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 mature phase of its life cycle, as indicated by the moderate growth rate of industry value added (6.5%) over the decade to 2019. This is slightly higher than China's GDP growth of about 7.3% over the same period.
Many major enterprises monopolize the Chinese market, making it difficult for new companies to enter the industry. Over the 10 years to 2019, the number of industry enterprises has been falling at an annualized rate of 0.2%.
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... purchase to read more