China's professional skin care market soon surpass US
27 Feb '07
2 min read
In fact, the facial treatments sector in China is currently the third-largest in the world, larger than any single country in Europe, according to preliminary data from Kline's GLOBAL COSMETICS & TOILETRIES 2006 service.
While it is already a highly fragmented market space, with more than a thousand local brands competing with approximately 100 imports, the promise of a steadily expanding growth market is alluring.
Kline's study forecasts annual growth of nearly 15% in China through 2011, compared to just over 9% for the U.S. market. This will push sales in the Chinese market past the $1.4 billion mark––and the U.S. market––within this timeframe.
However, with this promise come significant hurdles. The competition between foreign imports and local Chinese brands has created a polarized pricing structure that challenges marketers to find their niche for both pricing and distribution.
marketing@alchempro.com
