in-cosmetics Asia, 3-5 November 2015, Halls 101 – 103, BITEC Bangkok, Thailand
The Chinese skincare and cosmetics market is considered one of the most sophisticated and competitive in the world. Indeed, it is the world’s second largest cosmetics consumer market (second only to the US) with an annual volume of retail sales of approximately RMB200 billion. While the Chinese economy has slowed, research has shown that the domestic personal grooming market has flourished thanks to a growing interest from consumers born in the 1980s and 1990s, who are more willing to spend money on facial care at an earlier age[1].
Euromonitor values the personal care market in China at around US$48.9 billion, and estimates that it has grown over 10 per cent since 2013/2014. Further proof of this comes from research by Kantar Worldpanel[2] which shows that the average number of skincare products bought per household has risen steadily over the past 12 months to reach an average of 3.63. However, the same report highlights the opportunity for expansion that still exists in the Chinese market by comparing it to the neighbouring Korean market which has an average of seven skincare items per household.
There is therefore a real opportunity for companies to further educate Chinese consumers and add to their skincare routines with additional steps and more products. The sheer size of the domestic market in China means that there is scope for quick growth and the establishment of a large group of loyal consumers. This opportunity is not just restricted to the multinationals, with local Chinese manufacturers rapidly developing their offering and giving the market a value for money option that is proving to be real competition for the larger players.
The recent growth of the Chinese market and the opportunity that exists there for cosmetics companies means that it was the natural choice for the Country Focus at this year’s in-cosmetics Asia. The show will host over 40 Chinese personal care ingredients suppliers at the event, with a dedicated Chinese pavilion highlighting some of the most innovative companies from the country. There will also be a Chinese Product Trail that will allow visitors to easily identify the most inventive ingredients the region has to offer and meet the key players in the market.
Visitors to the event will have unrivalled access to the latest insight and intelligence on the Chinese market. The Marketing Trends theatre will see a number of sessions dedicated to the Chinese market. Florence Bernardin of Information & Inspiration will look at what happens when ‘Herbal medicine meets the modern age in China’ (Tuesday 3rd November, 12:00-12:45). She will also give attendees an overview of the Chinese market in her session entitled ‘What’s hot and what’s not in China’ (Wednesday 4th November, 16:00-16:45) and finally she will look at ‘China vs Asia: the different faces of anti-ageing’ (Thursday 5th November, 11:00-11:45).
Discussing her involvement, Florence said: “The Chinese cosmetics market is fascinating and dynamic, with consumers influenced by a range of factors, many of which are unlike those seen anywhere else in the world. The dedicated Marketing Trends presentations focussing upon the Chinese market at in-cosmetics Asia will provide valuable information on this market and how to meet the needs of consumers and their evolving beauty routines.”
Sarah Gibson, Exhibition Director, in-cosmetics Asia said: “With more than 4,000 cosmetic manufacturers, both foreign and domestic alike, already in China, gaining any kind of advantage in such a competitive market is difficult. However, this market is also only likely to continue its growth, with it continuing to buck the general economic trends, consequently there is a real opportunity for those looking to gain a foothold in one of the largest, and yet still relatively untapped markets in the world.
“The insight available from in-cosmetics Asia will allow attendees to come away with the knowledge to make informed decisions on where the opportunities lie in China, what challenges lay ahead and the types of trends we will be seeing over the coming years. It will also allow them to get face-to-face with some of the most innovative and influential companies in that market.” concluded Gibson.
For more information on the event and the China Country Focus in particular visit www.in-cosmeticsasia.com/CountryFocus
ENDS
For further details visit http://www.in-cosmeticsasia.com/
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For further press information please contact Jess Davis at the in-cosmetics group press office on +44 (0) 20 7240 2444 or e-mail in-cosmetics@stormcom.co.uk
Notes to editors:
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[1] Euromonitor: Beauty and Personal Care in China, May 2015 and Skincare in China, May 2015
[2] www.kantarworldpanel.com/global/news/the-thriving-mask-market-in-China