Growth slows down in China

Published: 12-Mar-2014

Growth in China’s cosmetics industry hit a downturn in 2013, according to a report by market analyst Research and Markets

Growth in China’s cosmetics industry hit a downturn in 2013, according to a report by market analyst Research and Markets, impacted by global economic recovery as well as China’s economic growth slowdown.

Nevertheless, gross retail sales of industrial players above designated scale increased by 21.5% year on year to Chinese yuan RMB134.01bn. Currently, the report said, foreign brands continue to dominate the market, with the top three places going to L’Oréal Paris, Olay and Mary Kay which collectively make up 12.45% of retail sales.

The largest category was skin care in 2012, reaching RMB 80.48bn, up 9.9% year on year, while make-up grossed RMB23.4bn, a year on year rise of around 20%. Men’s cosmetics and children's and infants’ cosmetics continue to occupy a relatively small share of sales, at 5% for men’s cosmetics and 5.3% for children’s and infants’ skin care.

The full report, Chinese Cosmetics Industry Report – Forecasts to 2016, analysed trends and developments in the Chinese cosmetics market as well as the operation and cosmetics business performance of four multinational companies and 16 domestic enterprises.

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