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China's professional skin care market soon surpass US
27 Feb '07
2 min read
Fueled by a still-booming economy and an accompanying wave of consumerism, the Chinese market for professional skin care products posted a robust 15% gain in 2006.
This rate outpaced the U.S. and European markets and is expected to continue to do so over the next five years, according to a recently published study by Kline & Company. These prospects have skin care marketers around the globe taking notice.
“The sheer size of this market alone makes it attractive,” says Carrie Mellage, industry manager for the Consumer Products practice of Kline's research division.
“Factor in the growth potential and it's easy to see why China is becoming such a critical element in sales and marketing strategies for the global consumer products industry, especially for high-margin sectors like professional skin care.”
According to the National Statistics Bureau of the People's Republic of China, disposable per capita income has surged by an average of 11.3% over the last five years. This has helped to drive personal care expenditures up by 13.4% each year, Kline estimates.
This trend is a major force in the market for professional skin care products––sold primarily through beauty institutes, spas, and salons or dermatologist and plastic surgery clinics––with Chinese consumers focusing more of their attention––and their income––on enhancing their appearance.
Kline's study, Professional Skin Care 2006, Volume III: China, pegs the overall market at $720 million at the manufacturer level and rising, quickly gaining ground on the $870 million U.S. market.
This rate outpaced the U.S. and European markets and is expected to continue to do so over the next five years, according to a recently published study by Kline & Company. These prospects have skin care marketers around the globe taking notice.
“The sheer size of this market alone makes it attractive,” says Carrie Mellage, industry manager for the Consumer Products practice of Kline's research division.
“Factor in the growth potential and it's easy to see why China is becoming such a critical element in sales and marketing strategies for the global consumer products industry, especially for high-margin sectors like professional skin care.”
According to the National Statistics Bureau of the People's Republic of China, disposable per capita income has surged by an average of 11.3% over the last five years. This has helped to drive personal care expenditures up by 13.4% each year, Kline estimates.
This trend is a major force in the market for professional skin care products––sold primarily through beauty institutes, spas, and salons or dermatologist and plastic surgery clinics––with Chinese consumers focusing more of their attention––and their income––on enhancing their appearance.
Kline's study, Professional Skin Care 2006, Volume III: China, pegs the overall market at $720 million at the manufacturer level and rising, quickly gaining ground on the $870 million U.S. market.
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