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 12.2% in the five years through 2015, to an estimated $19.9 billion. Over the next five years, industry revenue is forecast to grow 3.4% annually, to total $23.6 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 mature phase of its life cycle, as indicated by the moderate growth rate of industry value added (6.3%) over the decade to 2020. 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 5 years to 2020, the number of industry enterprises has been increasing at an annualized rate of 0.3%.
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