Singapore cosmetics market is projected to grow at a CAGR of 4% during 2013-2017, says RNCOS in its latest research report.
Noida, UP -- (SBWIRE) -- 04/23/2014 -- Singapore has rapidly adopted the western trend of purchasing online and cosmetic is one industry that is reaping benefit from it. An increasing need for comfort among consumers is a prime reason for increasing online cosmetic sales. In mid-2012, there were more than 4 Million internet users representing 75% of the total population. With growing internet usage and changing work lifestyle, the online shopping culture has grown in the country. Generally, consumers in Singapore purchase branded products online as there is no fear of quality in case of branded products. There are a number of popular online portals selling branded cosmetic products in Singapore.
In their latest research study, “Singapore Cosmetic Market Forecast to 2017”, RNCOS analysts identified that cosmetic products market in the country has been witnessing significant growth with rising influence of international brands offering innovative cosmetic products. Moreover, the cosmetics market in the country is anticipated to grow at a CAGR of around 4% during 2013-2017. We have also studied the trends in the Singapore cosmetic market like growing men's grooming market, international brands expanding their operations etc to understand the direction of growth in the cosmetics industry.
In the report, we have studied the Singapore cosmetics industry in terms of market size, major segments including skincare, fragrance, haircare and color cosmetics. We have studied all these market segments with forecast till 2017. In addition, the report covers the market potential areas including hair & beauty salon market, spa industry and cosmetic surgery market. The report also covers the distribution channel and market entry strategies for foreign cosmetic companies in Singapore.
RNCOS report also highlights the regulatory framework for cosmetic industry in the country including the licensing procedure for foreign players with fee details and import duties etc. In addition, we have done the consumer behavior analysis to understand the demographics, preference and brand loyalty of customers towards cosmetic products.
With the industry’s immense growth potential, the study foresees huge opportunities for both existing and new cosmetic players. Our report also includes the profiles of key industry players, like L’Oreal, Procter & Gamble, Shiseido, Beiersdorf, Estee Lauder, LVMH Fragrance & cosmetics among others. Overall, the objective of the study is to help clients understand the prospects of the industry, and make sound investment decisions in view of those.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.