Interviews
News Flash
Global cosmetic & toiletries market reached at $150bn in 2004 by Kline & Co
11 Jul '05
4 min read
Bonner notes that marketers of cosmetics and toiletries have eyed the developing markets in Asia, Latin America, and Eastern Europe and their growth potential for some time.
Penetration rates for some personal care products are still relatively low, especially in rural areas. But leading marketers are now starting to capitalize on these developing markets.
“Channels of distribution are developing quickly, and a greater variety of consumer products are becoming more readily available to more people,” Bonner says.
“They expect to see strong growth in these countries over the next five to ten years as marketers look outside of the mature regional markets for new sources of revenue.”
Skin care products represent the largest product category examined in Kline's study and demonstrated the strongest growth from 2003 to 2004, estimated at nearly 5% on a global basis. Hair care followed close behind, thanks in part to strong growth in Asia and Latin America.
Asia is the leading region in terms of skin care product consumption, accounting for approximately $17.5 billion in manufacturers' sales in 2004.
While Japan accounts for the bulk of sales, China and South Korea each contributed more than $2 billion to the total and represent larger markets for skin care products than any single country in Europe.
“Even in developing countries, skin care is helping to drive overall market growth, and in the mature markets, the anti-aging trend is still going strong,” says Bonner.
Penetration rates for some personal care products are still relatively low, especially in rural areas. But leading marketers are now starting to capitalize on these developing markets.
“Channels of distribution are developing quickly, and a greater variety of consumer products are becoming more readily available to more people,” Bonner says.
“They expect to see strong growth in these countries over the next five to ten years as marketers look outside of the mature regional markets for new sources of revenue.”
Skin care products represent the largest product category examined in Kline's study and demonstrated the strongest growth from 2003 to 2004, estimated at nearly 5% on a global basis. Hair care followed close behind, thanks in part to strong growth in Asia and Latin America.
Asia is the leading region in terms of skin care product consumption, accounting for approximately $17.5 billion in manufacturers' sales in 2004.
While Japan accounts for the bulk of sales, China and South Korea each contributed more than $2 billion to the total and represent larger markets for skin care products than any single country in Europe.
“Even in developing countries, skin care is helping to drive overall market growth, and in the mature markets, the anti-aging trend is still going strong,” says Bonner.
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
