The Chinese male grooming industry is expected to reach nearly RMB 10 Billion by 2014, with a CAGR of around 21 per cent during 2012-2014, according to a study by RNCOS.
China is an enticing location for the global cosmetic manufacturers, and the retail sales of cosmetics and toiletries have recorded a remarkable double-digit growth in the past few years.
According to RNCOS new research report, "Chinese Male Grooming Market Analysis", male consumers in China are ready to spend more on cosmetics products due to the rising affluence, increased product knowledge & exposure, and desire for better lifestyle.
Urban male consumers are more fashion-conscious and sophisticated, and thus, they play a major role in infusing growth in the overall cosmetic industry. The study found that the hair care segment currently dominates the Chinese male grooming market, but with the introduction of innovative products, the skin care section will see a rapid growth in near future.