Recent figures from the National Bureau of Statistics of China have confirmed that despite the global economic turmoil, the Chinese cosmetics market continued to grow at a fast pace over the three first quarters of 2009.
The still low per capita consumption of cosmetics and toiletries products in the country offers “tremendous opportunities to both domestic as well as international brands” said research firm RNCOS in a recent report.
According to RNCOS, the Chinese cosmetics market will see tremendous growth in coming years and will remain far from attaining saturation level.
“The emergence of domestic companies in the Chinese cosmetic market landscape along with changing market dynamics will drive the future growth of the industry. There are no signs of the market attaining saturation point in near future and thus, it will continue enjoying tremendous growth,” RNCOS commented.