With increase in working female population, color cosmetics sales are anticipated to grow at a CAGR of around 13% during 2011-2014, RNCOS acknowledged.
(prHWY.com) May 4, 2012 - NOIDA, India -- On the back of increasing working women population, improving standards of living, rising product awareness, transition in the perception of using color cosmetics among women, the color cosmetic products market is fast gaining popularity in China. Although this segment represents a limited consumer base, it is still growing steadily. Among all the color cosmetics products, lip products account for the major share in the Chinese color cosmetics sector as these are regarded as the most convenient, inexpensive, and visible means to enhance appearance among the young Chinese women. Thus, owing to these drivers and trends noticeable among Chinese population, the color cosmetics industry is expected to grow at a CAGR of 13% during 2011-2014, according to a research report by RNCOS, "Cosmetics and Toiletries Market in China".
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. Taking into consideration, the vast potential consumer base inspite of an extremely low penetration level, cosmetics and toiletries market in China is expected to grow at a CAGR of over 12% during 2011-2014.
Although women are the primary driver of the Chinese cosmetics and toiletries market, the perception of male consumers towards cosmetics and toiletries has also changed over the last two years. As a result, the sales of male cosmetics and toiletries products are expected to be the fastest growing segment for the next few years. Besides, the rural region still holds immense potential for big players, but threats from counterfeit and low-priced products also exit.
Besides, the report also analyzes factors critical to the success of the cosmetics and toiletries industry in China. It not only discusses 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 fragrances have also been included in the report to provide a better understanding of the prevailing trend of the cosmetics and toiletries industry in the country.
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http://www.rncos.com/Report/IM001.htm
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