Euromonitor International released in April 2013 its report on the latest market trends and sources of future market growth for the Beauty and Personal Care industry in China. A help to find hidden opportunities in the most current research data available, to understand competitive threats along with a detailed market analysis, and to plan your corporate strategy with this expert in qualitative analysis and growth projections.
Strong value growth continues, with steady demand
Beauty and personal care continued its vigorous current value growth in China in 2012, due to rising disposable incomes and growing awareness of personal hygiene and outer appearance. In addition to strong value growth across the board, skin care, baby and child-specific products and men’s grooming recorded double-digit current value growth, due to strong consumer demand for specifically targeted personal care products, and the rising demand for a fairer, younger and more rejuvenated appearance, especially amongst women.
Rising incomes and pursuit of personal wellbeing fuel the premiumisation trend
Growing disposable incomes and the rising pursuit of personal wellbeing underpinned the premiumisation trend in beauty and personal care. More consumers were inclined to trade up to high-end products for better quality and efficacy, resulting in the more robust value growth of premium cosmetics than mass cosmetics in 2012. In line with this trend, many of the leading players unveiled or launched premium and even luxury new products in beauty and personal care, represented by Aupres Premium from Shiseido and Osiao from Estée Lauder.
Multinationals further consolidate the market, with stronger competition
Multinationals, represented by Procter & Gamble, L’Oréal and Shiseido, continued to take the …
