Demand for C&T products from China to grow
Survey shows suppliers in China are tapping emerging markets
A new survey by Global Sources has found suppliers of beauty and cosmetics products in China are anticipating export growth of up to 20% in the next 12 months as they expand their reach by focusing on emerging markets and the popularity in natural beauty products.
The China Sourcing Report: Beauty & Cosmetics, found that suppliers in China have a strong focus on the emerging markets of Asia, the Middle East, Russia and South America and are using more natural, organic and mineral products.
The report, which covers make-up for the face, eyes, lips, as well as skin care, applicators and tools, and nail care, found that suppliers are confident of generating more orders in the year ahead.
“Manufacturers in China’s beauty and cosmetics industry eagerly anticipate export growth of at least 20% in the next 12 months,” explained Livia Yip, report publisher. “This follows exports of make-up and skin care products shooting up 22% year on year to $358m in January – June 2010, according to industry estimates. China customs statistics show outbound shipments in the brushes, applicators and nail care sectors soaring 34% to $55.4m in January – May.”