Skincare to be One of the Fastest Growing Health and Beauty Sectors in China to 2017
04 September 2013
Skincare is one of the fastest growing Health and Beauty Sectors in China. According to research by Canadean, the sector will grow at a value Compound Annual Growth Rate (CAGR) of 11.3% to 2017. This growth has been driven by consumers’ growing spending power and a growing awareness regarding personal appearance and health.
Facial Care took the highest share of the sector in 2012, with a value and volume share of 93.0% and 92.8% respectively. This has been aided by product innovations from established and trusted brands such as L’Oreal, and a rising disposable income among consumers.
Depilatories will display the highest growth of the sector over the next five years, with a value CAGR of 12.5% and volume CAGR of 9.6% to 2017, as manufacturers push out further marketing campaigns and high quality products.
The Canadean Report: ‘The Future of the Skincare Market in China to 2017’ was published in August, 2013
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