The skin care and cosmetics market in China is showing no signs of slowing down according to a report published by RNCOS in Newswire Today.
And according to an article in China Daily which discusses the findings of a survey carried out by TNS Research International, around 68 per cent of Chinese people said that spending money on their personal appearance and skin is very important to them.
Speaking to the paper, 29 year old office worker Susie Zhang admits she spends almost half of her monthly salary on facial care products to improve her appearance.
She said: “Every evening, I use even more skincare products including scrubs, facial masks and many others.
“I think skincare and beauty products are an investment that pays you back,”
Skin care products are still being developed and launched throughout the country which is also still regarded as one of the most untapped skin care markets in the world. This is according to a report carried out by RNCOS entitled, “ Cosmetics and Toiletries Market in China.”
Despite gloomy forecasts due to the economic recession, China still reported a positive year growth in the facial care products market in 2009. Experts are also predicting that the market will continue to grow at such a fast rate until the year 2013.
With more consumers in the Chinese market with different skin needs and expectations, this has led to new products being designed and marketed to the rest of the country. As well as the common products such as moisturisers, market research shows that items like anti-ageing products, toners and whiteners are also becoming very popular.
Sales of hair products and fragrances are also growing at a very fast rate as the younger consumers are being targeted and those with higher incomes.