Skin Care Products Consumption Value Per Capita Surges YoY, States CRI in Its Research Report Now Available at MarketPublishers.com01 Sep 2016 • by Natalie Aster
LONDON – China’s skin care product market is the leading emerging one worldwide for the population and economy. In value terms, sales of skin care products grew from over USD 13.47 billion in 2011 to USD 19.46 billion in 2015, registering a CAGR of close to 9.1%, thus surpassing the growth pace of GDP over the corresponding period.
By value, the consumption of skin care products per capita surges YoY in China. The consumption ability and willingness are intensified by the increased attention to beauty, health and material life. Furthermore, consumers’ overall expenditure increases with the availability of bounteous varieties and functions of skin care products in the country. Nevertheless, the sales of skin care products are fuelled by different online sales promotions with the evolution of the electronic commerce industry.
The main consumers in the domestic skin care product market comprise children, males alongside young women in China. Meantime, the pursuance of health and getting around to nature become a trend with the redeveloping of the industry structure. The mainstream of skin care product developing migrates to new raw materials like biologic preparation, plant extracts and bioactivity extractives. The market size of the skin care product manufacturing industry will likely maintain an annual growth rate of more than 8% and exceed that of GDP over the coming several years.
In-demand market research study “Skin Care Product Manufacturing Industry Overview in China, 2016-2020” elaborated by China Research and Intelligence Co. (CRI) gives an in-depth look at the performance of the industry in China. The study provides the definition and classification of skin care products; offers accurate data on the production of, and demand for skin care products; casts lights on the development opportunities and driving factors pertaining to the country’s skin care product manufacturing industry faces; assesses the risks and challenges in the industry development. The comprehensive report further investigates the competitive landscape and offers a granular analysis on the 5 leading skin care product manufacturing firms in China. A detailed pricing analysis for major raw materials of skin care products as well as skin care products. An all-round future outlook for the development of skin care product manufacturing industry through 2020 is also at hand in the study.
Other insightful market research studies drawn up by CRI can be found at its page.