Considering China and the skin care and cosmetic industries there in 2010, it is possible to say that this country has experienced great growth. The skin care and cosmetic industries in China are divided into male and female ones and it is possible to notice the tendency of the men’s skin care industry development increase.
The research conducted in the sphere of cosmetics and toiletries market in China by RNCOS shows that male skincare industry suffered greater growth than women’s one.
However, the general tendency was still to the height among other cosmetic facilities. Domestic China skin care cosmetics occupied the dominating place even though the international cosmetics also took its positions (Skin Care to Drive Cosmetics Industry in China 2010).
For example, French company LANCOME has occupied about 22 cities in China and leads the skin-care industry there successfully removing national manufactures. LANCOME has managed to become a China’s market leader in high‐end cosmetics.
However, there are other competitors which want to have domination in the cosmetics market of China, these are American companies (ESTEE LAUDER, CLINIQUE, SK‐II, and ELIZABETH ARDEN), Japanese (SHISEIDO), French (DIOR, CHANEL and BIOTHERM. The researchers of Chinese skincare market managed to experience 13% growth in China market and they are sure that his growth has become possible with the gene‐repair positioning (Lee 2012).
Anti-aging is one of the most popular series in skincare cosmetics. Women are afraid of looking old, therefore, they are able to pay thousands of dollars to look young and attractive. Anti-age companies managed to increase their sales on 22 % in the first quarter of 2010. At the second quarter this activity reached 53 % (Tianyu 2010). Despite the growth in cosmetics sales in 2010, the researches managed to see the reduced rates of growth.
Thus, in 2009, the nominal; growth in the sphere of the skincare industry was 16.9%, while in 2010 this growth was just 16.3%. The increased demand on the skincare products encouraged some companied to increase their prices and it has not affected the industry sales which remained at the high level (China’s cosmetics market 2010 2011).
The attractiveness of skincare industry in China cannot be overestimated as more and more people want to have a good look. Ecology, genetically modified food and other particular aspects which harmfully affect human skin are the main factors which predetermine the development and growth in the skincare industry. The growth of the harmful effect on skin encourages the growth of the skincare industry in cosmetics.
Reference List
‘China’s cosmetics market, 2010’, 2011, Li & Fung Research Centre. Web.
Lee, A 2012, ‘Lancome in China”, in Stepping Forward Strategically in China’s Markets, Alvin Lee, Wenge Fu and Jinchao Yang, 335-349, Cengage, Singapore.
‘Skin Care to Drive Cosmetics Industry in China’, 2010, RNCOS. Web.
Tianyu, Y 2010, ‘Skincare items popular despite cost’, China Daily. Web.