New Regulations, Foreign Competition, Force the Upgrade of Firms in China's Cosmetic and Personal Care Product Manufacturing Industry
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New Regulations, Foreign Competition, Force the Upgrade of Firms in China's Cosmetic and Personal Care Product Manufacturing Industry

Shanghai : China | Sep 16, 2012 at 1:07 PM PDT
Source: PRWeb
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However, Chinese cosmetic and personal care product manufacturers mostly compete in lower-end markets, while the high-end market is dominated by global groups...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 9.1% in the five years through 2012 to an estimated $12.1 billion.

Chinese cosmetic and personal care product manufacturers mostly compete in lower-end markets, while the high-end market is dominated by global groups such as P&G, Unilever, and L'Oreal. Foreign enterprises have acquired many domestic brands in recent years...In 2008, German manufacturer Beiersdorf acquired 85.0% of shares in C-bons Daily Chemical Co...Nevertheless, no firm, domestic or foreign, has a dominant market share.

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 and 85 manufacturers in the Cosmetic and Personal Care Product Manufacturing industry in China were forced to stop production...In addition, manufacturers are constantly developing new products to expand market share. 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...With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions...For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebchina/cosmeticmanufacturing/prweb9887572.htm

 
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