26 Jun 2012
New research uncovers growth in China's male grooming market
BY Pete Hayman
Image: Demand for male grooming services is growing
A new report published by India-based research group RNCOS suggests that China's male grooming market could be worth RMB10bn (US$1.5bn, EUR1.3bn, £6.4bn) by 2014.
According to the research, the sector is currently experiencing "significant growth" as affluence levels across the country increase, as well as product knowledge and exposure.
The report also cites a desire for a better lifestyle as to why spending on cosmetics products has increased, with urban consumers seen to be "far more fashion-conscious".
China's male grooming industry is expected to grow at a compound annual growth rate of 21 per cent between 2012 and 2014, with skincare to dominate the market in the short term.
The RNCOS report said: "Our study found that hair care segment currently dominates the Chinese male grooming market, but with the introduction of innovative products, the skincare section will see a rapid growth in near future."
Details: www.rncos.com
Image: Netfalls-Remy Musser/shutterstock.com
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