San Francisco, CA (PRWEB) April 07, 2013
The Cosmetic and Personal Care Product Manufacturing industry in China has shown strong growth over the past decade. China has become one of the largest cosmetics markets in the world and ranks second in Asia after Japan. Industry revenue has been growing at an annualized rate of 10.3% in the five years through 2013 to an estimated $15.2 billion, says IBISWorld.
Chinese cosmetic and personal care product manufacturers mostly compete in lower-end market. Only a few Chinese brands, such as Herborist, are able to compete in the high-end market. In 2011, the State Food and Drug Administration launched strict regulations regarding the safe usage of ingredients and additives; 85 cosmetics manufacturers were forced to stop production as a result, says IBISWorld.
Although there are many companies operating in this industry, no firm has a dominant market share. The top four firms account for about 34.0% of industry revenue in 2013. Larger groups have invested much in this industry, strengthening sales channels, acquiring smaller players, and launching new products. For example, Johnson & Johnson acquired Beijing Dabao Cosmetics Co. Ltd. in July 2008, and in 2011, Coty Inc. became the largest shareholder over TJoy.
Enterprises in the Cosmetic and Personal Care Product Manufacturing industry in China are constantly developing new products. Cosmetics and personal care product segments include Chinese medicinal herbs, products for males, products for children, products designed for sports and products for professional beauty. Organic, natural and hypoallergenic products have also become very popular in the Chinese market.
For more information, visit IBISWorld’s Cosmetic and Personal Care Product Manufacturing in China industry report page.
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IBISWorld Industry Report Key Topics
The Cosmetic and Personal Care Product Manufacturing industry in China comprises businesses that manufacture skin cleansers and other skin care products, hair care products, deodorants, fragrances, and other toiletries. Raw materials are sourced from upstream chemical industries and the finished products are sold via extensive sales networks. Medical and pharmaceutical products are not included in this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.