China represents one of the most dynamic and untapped cosmetics and toiletries markets in the world, according to a new report from RNCOS, a firm that specializes in Industry intelligence and creative solutions for contemporary business segments. The “Cosmetics and Toiletries Market in China,” report notes while the economy transformation and expansion phase has proved to be highly beneficial for the market during the last decade and although the market has been registering impressive growth rates, the country still possesses immense growth potential. The firm adds that owing to the extremely low-penetration level and vast consumer base, cosmetics and toiletries market in China will surge at a CAGR of over 12% during 2011-2014.

“As per our analysis, skincare dominates the overall cosmetics and toiletries market in China. During 2010, the segment acquired lion’s share and showed further signs of growth, especially in the men’s skin care segment. Other segments, such as hair care, color cosmetics, and fragrances also experienced a double-digit growth during the past few years. Besides, cosmetics imports and exports in the country have also increased tremendously during the last year,” said analysts.

The report also analyzes factors critical to the success of the cosmetics and toiletries industry in China such as Chinese consumer behavior, emerging market opportunities, and key challenges. Forecasts for all the market segments, such as skin care, hair care, color cosmetics, and fragrance have also been included in the report to provide a better understanding of the cosmetics and toiletries industry in the country.