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BRIC: Continued Domination of Global Beauty Sales
By: Carrie Lennard, Euromonitor International
Posted: July 13, 2011, from the July 2011 issue of GCI Magazine.
page 3 of 3The men’s grooming category, however, is also worth noting. As attitudes toward grooming change among men, male grooming products are seeing strong performances, and men’s grooming is set to post an average annual growth rate of 13% until 2015. Men’s hair care, skin care and deodorants are likely to remain the market drivers due to constant new product launches and promotions.
The beauty and personal care market is predicted to see growth of more than $10 billion by 2015, by far the highest of any country globally. Key factors driving this will be China’s strong GDP growth and Chinese consumers’ higher disposable incomes.
Carrie Lennard is a research analyst at Euromonitor International.