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Singapore Cosmetic Market Forecast to 2017
Singapore is emerging as the favorite destination among the Southeast Asian countries for global cosmetic players, with high spending on cosmetic products. Rising beauty concerns among both men and women are further fuelling growth in the Singapore cosmetics industry. Entry of new cosmetic brands coupled with product launches is creating an exceptionally bright future for the cosmetics sector in the country. Moreover, some of the leading global cosmetic manufacturers have made Singapore a hub to supply their products in other neighboring countries.
In their latest research study, “Singapore Cosmetic Market Forecast to 2017”, RNCOS analysts identified that cosmetic products market in the country has been witnessing significant growth, with rising influence of many international brands, which are offering innovative cosmetic products. Moreover, the cosmetics market in the country is anticipated to grow at a CAGR of around 4% during 2013-2017. We have also studied the trends in the Singapore cosmetic market, like growing men's grooming market, increase in online cosmetics buying, etc. to understand the direction of growth in the cosmetics industry.
In the report, we have studied the Singapore cosmetics industry in terms of market size, major segments including skincare, fragrance, haircare and color cosmetics. We have studied all these market segments with forecast till 2017. In addition, the report covers the market potential areas including hair and beauty salon market, spa industry and cosmetic surgery market. The report also covers the distribution channel and market entry strategies for foreign cosmetic companies in Singapore.
RNCOS report also highlights the regulatory framework for cosmetic industry in the country, including the licensing procedure for foreign players with fee details and import duties, etc. In addition, we have done the consumer behavior analysis to understand the demographics, preference and brand loyalty of customers towards cosmetic products.
With the industry’s immense growth potential, the study foresees huge opportunities for both existing and new cosmetic players. Our report also includes the profiles of key industry players, like L’Oreal, Procter & Gamble, Shiseido, Beiersdorf, Estee Lauder, LVMH Fragrance & cosmetics among others. Overall, the objective of the study is to help clients understand the prospects of the industry, and make sound investment decisions in view of those.