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 9.6% in the five years through 2016, to an estimated $22.2 billion.
Over the next five years, industry revenue is forecast to grow 8.0% annually, to total $32.6 billion in 2021. 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 Products Chapter
Skin care products
Skincare products are the largest segment in this industry, accounting for 55.2% of total industry revenue in 2016. Skincare products are used to clean and protect the skin, and to keep skin healthy. The vast majority of women use skincare products, underpinning skincare's dominance of the industry. Competition in skincare market is particularly intense. Asians commonly advocate fair skin and skin whitening, so its skincare spending is quite high. In whitening field, local Asian manufacturers such as Shiseido are expected to be the leading in this market.
Hair care is a relatively mature segment with high penetration rates. In .. purchase to read more