Boston, MA -- (SBWIRE) -- 03/21/2014 -- This report provides a concise overview of the Fragrances market in China. After reading this report, you will understand the size of the market, and the economic, demographic, and behavioral trends that will drive its evolution, and the leading players within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the Chinese Fragrances sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
China has one of the lowest Fragrances penetration rates among the major economies. Even as the GDP growth rate slowed down in China, GDP per capita is expected to grow at more than 10% during 2012-2017. While growth focus has shifted from investment-driven to consumer-driven economy, it is likely to benefit the CPG market including Fragrances.
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What are the key drivers behind recent market changes?
The most important market driver is Changing Age Structures as Chinese consumers use Fragrances to meet age-specific grooming needs, such as youth-oriented scents.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the Chinese Fragrances sector. This allows for the rapid identification of key growth opportunities across major Fragrance categories and their packaging.
Key Features and Benefits
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Fragrances sector.
Key growth categories are highlighted by analyzing the market dynamics of major Fragrances categories.
Market shares are provided for the leading brands and private labels across Fragrances categories.
An overview of packaging trends in the Chinese Fragrances sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key Market Issues
Mid-Lifers record a substantial increase in heavy consumption compared to Pre-Mid-Lifers, reflecting that changing life-stages have a high impact on Fragrance consumption; premium brands should target this age-group.
China's Fragrances market remains highly underpenetrated, with China traditionally having a low Fragrance usage culture. With increased globalization and evolving life-styles of the country's middle class population, Fragrance sales have grown steadily.
Private Label penetration in China's Fragrances market is low, with international brands driving the market. The strong brand equity of international companies makes it hard for Private Labels to compete.
Companies Mentioned in this Report: China Resources Enterprise, Lianhua, Auchan, Walmart, Carrefour, Chanel S.A., LVMH, Coty, Inc., The PandG
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