The cosmetics market in China – Trends, perspectives and issues as seen from the PCHi 2012 in Shanghai
China. 1.3 billion inhabitants, the fastest growing economy worldwide, rising salaries and a growing urban middle class, which is today almost the same size as the whole USA population. According to forecasts by the UN Population Division and Goldman Sachs, in 2030 the entire Chinese population may attain the middle class standard set by the World Bank.
The Chinese middle class is becoming increasingly sophisticated and China has become one of the most attractive countries for investments in the personal care and cosmetics sector. Today, the European Union (EU) remains the largest marketplace worldwide, but when considering individual countries, China’s cosmetics and personal care market is the third largest after the USA and Japan. At the same time, it is important to note that the country still has great growth opportunities and has yet to reach its full potential. As a result, several international brands and ingredient suppliers have made large investments in China. Till today, international brands occupy the leading positions within the Chinese high-end personal care market, especially in the biggest cities, while domestic bra ... ...