Sector predicted to grow at a value CAGR of 11.1% until 2017
The Chinese fragrance sector is predicted to grow at a value CAGR of 11.1% until 2017, according to new findings from Canadean.
The continued growth is being put down to the rising affluence of the Chinese middle class and the increasing influence of western brands and culture, particularly in Guangzhou and Shanghai.
Female fragrance, which accounted for the largest share of the market in 2012, with 83.5% value and 84.3% volume shares, has been singled out as the category to watch, as it is expected to grow ahead of the sector at a value CAGR of 11.3% and volume of 7.2% up to 2017. On the other hand, male fragrance is predicted to grow at a value and volume CAGR of 10% and 6.6%, respectively, while unisex scents are predicted to grow the least at a value of 9.9% and volume of 6.5% to the same year.