China is an enticing location for the global cosmetic manufacturers, and the retail sales of cosmetics and toiletries have recorded a remarkable double-digit growth in the past few years. The international cosmetics majors have carved a niche place for themselves in the flourishing market by bringing stimulating changes to the competitive landscape, and providing a new dimension to the cosmetics industry. Of various segments, the male grooming market in China has been witnessing significant growth, and we estimate that it will increase with a CAGR of more than 20% during 2012 to 2014.
According to our new research report, “Chinese Male Grooming Market Analysis”, male consumers in China are ready to spend more on cosmetics products due to the rising affluence, increased product knowledge & exposure, and desire for better lifestyle. Urban male consumers are more fashion-conscious and sophisticated, and thus, they play a major role in infusing growth in the overall cosmetic industry. Our study found that hair care segment currently dominates the Chinese male grooming market, but with the introduction of innovative products, the skin care section will see a rapid growth in near future.
In order to provide a complete understanding of the market to clients, our comprehensive study has analyzed the opportunities and challenges in the male grooming market of China. In addition, our report forecasts the share of players in the Chinese male grooming market. It also provides business description, strategic analysis and initiatives of key players, including P&G and L’Oreal, to throw light on the competitive landscape prevailing in the industry. Overall, our research work aims at presenting a balanced picture of the market to the clients.